Kadena’s grand finale sees KDA nosedive 60% while Cardano’s Charles Hoskinson offers a lifeline… or a nettle.
Kadena, that beleaguered purveyor of digital dreams, has decided to pack it in, leaving its token KDA to plummet like a lead balloon at a hot-air balloon festival. A sudden and dramatic 60% price drop in 24 hours? Why yes, thank you, that’s just the kind of chaos one might expect from a blockchain startup.
In a twist of fate worthy of a Dickens novel, Charles Hoskinson-the man who once promised us all a utopia of immutable ledgers-has reached out to the Kadena community. Whether this is a genuine act of solidarity or a calculated ploy to steal their remaining users remains to be seen. 🤔
Kadena’s Grand Exit and KDA’s Descent into Oblivion
On Monday, Kadena officially declared bankruptcy, citing “challenging market conditions” as the reason for ceasing all operations. Their blockchain, once a beacon of hope, is now a ghost town, with developers fleeing and miners packing their metaphorical pickaxes. The network’s upkeep? A thing of the past.
KADENA PUBLIC ANNOUNCEMENT
We regret to announce that the Kadena organization is no longer able to continue business operations and will be ceasing all business activity and active maintenance of the Kadena blockchain immediately.
We are tremendously grateful to everybody who…
– Kadena (@kadena_io)
With a parting shot of $0.089 for KDA (down 60% in a day), Kadena’s token has joined the ranks of crypto’s most tragic tales. Once worth $27.64 in 2021, it’s now a mere shadow of its former self, with a 24-hour trading volume of $48 million and liquidity so low it could double as a metaphor for existential despair. 💸
Some traders, ever the drama queens, have accused the team of manipulation. Alas, no evidence has surfaced-just a lot of fingers pointing and a few very confused monkeys on Twitter.
Hoskinson’s Olive Branch (or a Banana?)
Enter Charles Hoskinson, the crypto knight in a Cardano-embroidered cape, offering a message on X: “Anyone from the Kadena ecosystem want to reach out?” A bold move, or a desperate attempt to fill Cardano’s otherwise empty chair at the blockchain roundtable? 🪑
Anyone from the Kadena ecosystem want to reach out?
– Charles Hoskinson (@IOHK_Charles)
While Kadena’s team abdicates their responsibilities, the blockchain itself will persist-somehow. Miners and developers, armed with nothing but caffeine and hope, will keep the network running. Meanwhile, Hoskinson’s past flirtations with cross-chain collaboration (like supporting XRP) suggest he’s not above playing matchmaker in the crypto apocalypse. 💍
Kadena’s Future: A Shakespearean Tragedy?
Though the company has exited stage left, the Kadena blockchain trudges on, sustained by the indomitable spirit of miners and developers. KDA tokens will continue to be minted until 2139, a promise as comforting as a teakettle in a storm. Over 566 million tokens await circulation, a treasure trove for those brave enough to hold them. 🏴☠️
Launched in 2017 by ex-JPMorgan execs, Kadena aimed to be the next big Layer-1 blockchain. Alas, scalability proved elusive, and developers chose other projects. This year’s $50 million Leap Grant Program? A valiant effort, but not enough to resurrect a project drowning in its own hype.
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2025-10-23 11:21