The Kadena price has had a spectacular rally in the past few months. The KDA price is trading at $8.54, which is just a few points below its all-time high of $8.78. The price is about 3,870% above its lowest level in June while its total market capitalization has jumped to more than $1.9 billion. It is the 91st biggest cryptocurrency in the world.
What is Kadena coin and is it an Ethereum-killer?
Kadena is an Ethereum-killer that many people have never heard about. It is a relatively new blockchain project that enables developers to build quality decentralized applications. It has smart contract features whose language is known as Pact.
In addition to this, it has Kuro, irs layer-2 blockchain that supports about 8,000% transactions per second. This is significantly fast speed considering that Ethereum handles less than 20 TPS while Solana handles about 2,000.
Another feature of Kadena’s blockchain is that its Layer 1 and Layer 2 can have about 480,000 TPS. Also, its transactions have no additional costs and it has also partnered with other leading blockchain projects like Terra, Polkadot, and Cosmos.
Therefore, Kadena could prove to be a major Ethereum-killer as more developers shift to its network. Besides, the developers have already raised about $15 million from a group of investors like Susquehanna, SV Angel, and InBlockchain.
Kadena price prediction
The daily chart shows that the Kadena price has been in a strong bullish trend in the past few months. The rally got supercharged when it rose above the key resistance level at $1.8565, which was the previous all-time high. The coin has also formed a bullish pennant pattern, which is usually a bullish signal. It is also being supported by the 25-day and 50-day moving averages while the RSI has been rising.