The crypto market has not been around for a very long time. But despite its short time in the limelight, it has been able to rise to prominence incredibly fast. The prime example of this incredible growth is Bitcoin, which has been able to grow by an incredible degree. Within a matter of just a decade, Bitcoin has been able to rise to close to $70,000, making it the highest performing asset ever. Furthermore, what is even more impressive is that the most excessive growth occurred in a span of just five years.
Thanks to the path that Bitcoin has paved for the entire market, various cryptocurrencies can see success similar to it. Even obscure coins like Dogecoin and Solana have been able to increase extensively. Since all of these cryptocurrencies have been able to see success, even some smaller crypto have hope in the market and show great promise. One of these promising cryptocurrencies is Kadena.
The current price for Kadena is closer to $6, which is a fairly good price for relatively new crypto. However, what is more, interesting to see is that it has seen a rise of almost 58% in a single day. This price jump left the current price for the crypto at close to $6.87.
Following the incredible rise in price in a single day, the trading volume for Kadena also happened to rise extensively. In 24 hours, the trading volume skyrocketed by 400%, which sent the entire market into a frenzy. But if the trading volume wasn’t enough to convince you of its promising nature then a market cap of over $900 million surely will. With a total of 153 million tokens in circulation, there is still plenty more supply than there is demand. But that could soon change in the future.
It is obvious that the recent crypto rally throughout the market has greatly helped Kadena rise in price. The recent rallies were also responsible for getting the biggest cryptocurrencies in the market to their all-time high. Bitcoin and Ether especially benefited from the recent rally, as they were able to easily cross their previous records. But even smaller coins like Shiba Inu saw incredible success throughout this rally. Shiba Inu saw a rise of 50% recently and an overall rise of over 500%. Some are even saying that it might surpass Dogecoin in the future.
Kadena will most likely continue to rise in the future, but not as drastically as other coins. People are still very skeptical about how this particular crypto will pan out. But they do believe that it is a good investment, but not the type where you will go all in on.