The Kadena (CCC:KDA-USD) crypto doesn’t look like the rest of the cryptos who have been flying upward in recent months. Its proof-of-work model might fly in the face of a more eco-conscious crypto crowd, but it has no intent to fall back from the consensus mechanism. Rather than spending time seeking out a new proofing algorithm, the network is dedicating itself to pushing into the trendiest blockchain industries. In recent weeks, the network has added two updates which vastly expand the capabilities of the KDA coin. Now, the value of KDA-USD is surging as a result and Kadena price predictions are becoming a big topic of discussion.
Kadena is a blockchain network that claims to be one of the most high-scaling layer-1 networks in the world. Through its “braided chains” solution, it claims it can process nearly 500,000 transactions per second. With speeds this fast, there is no need for the layer-2 scaling which other networks like Ethereum (CCC:ETH-USD) are seeking out to accommodate increasing transactions.
Recently, Kadena has also been adding a number of tools which will help to greatly build-out its existing ecosystem. Notably, the network is adding wrapped versions of its coins that allow users to use their KDA on the Ethereum ecosystem. Of course, being able to take a currency to an ecosystem as robust as Ethereum is a big plus to attract new holders. Further, Kadena plans on expanding its wrapped coin offerings to a number of other ecosystems like Polkadot (CCC:DOT-USD) and Terra (CCC:LUNA-USD).
The network is also making headway in the non-fungible token (NFT) space. It is launching a blockchain gaming token which will fuel the network’s incoming NFT market. Users will be able to buy non-fungible in-game items and developers promise extremely low fees.
Kadena Price Predictions Soar on DeFi, NFT Bullishness
The day before the first of these announcements came forward — Oct. 28 — KDA started trading at $5.85. Since then, it has surged a jaw-dropping 350% or so as of this writing. Topping out at a current all-time high of $28.25, KDA has also brought huge amounts of capital to the network. Today alone, the network is seeing over $310 million in Kadena swapping hands. This upward trend in buying translates to a more than $4 billion market capitalization.
Can this momentum continue as Kadena continues to roll out sleek new products? Let’s have a look at some KDA price predictions and see:
- Within the next 30 days, CoinArbitrageBot is forecasting a surge of around 40%, taking the KDA coin to $36.94.
- Digitalcoin’s year-end prediction for KDA targets a price of $38.05.
- WalletInvestor’s 12-month prediction is largely neutral. The site expects Kadena to continue trading at $27 in November of 2022.
- Likewise, Gov.capital expects KDA to trade sideways throughout the coming year, remaining just above $26 in 12 months’ time.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.