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Kadena: What Is KDA And Is It A Good Investment?



The price of Kadena has rallied in the past few days. The KDA token has risen to $ 20, up about 28% from this week's low. It is also slightly below the all-time high of $ 28. The total market capitalization is more than $ 3 billion.

What is KDA and is it a good investment?

The smart contracts industry has seen strong growth this year. While Ethereum still ranks first, other smaller networks are gaining momentum. Most of these competing projects try to prevail by building platforms that are easy to use and relatively fast.

While Ethereum is a good smart contracts platform, it also has its limitations and challenges. For example, it's one of the slowest smart contract platforms out there. It can process fewer than 20 transactions per second. In addition, the transactions are relatively expensive.

Newer projects like Solana, Binance Smart Chain (BSc), Avalanche and Algorand are better than Ethereum in many ways. They're faster, cheaper to process, and highly interoperable with other chains.

Those are the benefits of Kadena too. First of all, Kadena is a smart contracts platform that enables developers to create high-quality projects. The main reason developers turn to ADA is because of its relatively low cost and rapid speeds. For example, while Solana can process around 2,000 transactions per second, Kadena can process around 480,000.

Kadena uses a smart contract known as a Pact. Pact is described as "human-readable, incomplete Turing language for smart contracts, specially designed for blockchains with powerful security features." That makes it one of the best platforms out there today.

The challenge, however, is that Kadena is relatively new, faces stiff competition, and has not had much success. This means that there are no major blockchain projects built on top of Kadena.

The graph above shows that the Kadena price rose to an all-time high of $ 28.60 this month. It was a remarkable achievement, as it was about 33% above the low in September that year. After that, it fell about 43% as some investors took profits.

During the decline, Kadena formed a flag pattern. In price action, this pattern is usually a bullish sign. So I suspect the coin will continue to rise in the near future as the bulls target the all-time high. That can happen if some of the previous sellers invest in ADA again.

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