Kadena Blockchain Shuts Down Amidst Market Challenges

The Kadena blockchain, a layer-1 network designed for business applications, has announced its closure due to unfavorable market conditions. According to Cointelegraph, the native token KDA experienced a significant drop of 60% within 90 minutes following an announcement from the project’s founding team. In a statement on social media X (formerly Twitter), Kadena explained that it can no longer sustain business operations and maintain its blockchain due to these challenges. The company expressed gratitude for those involved in the project’s journey while acknowledging the impact of market conditions on its decentralized offering.