Kadena Shuts Down: Blockchain Network Crashes 60% After Founder Departure

The cryptocurrency industry experienced a major setback with Kadena, a Layer-1 network aimed at enterprise applications, shutting down all operations. The project’s founding team cited market conditions as the reason for abandoning maintenance, leading to a drastic 60% drop in its native token, KDA, within hours. Despite this closure, the Kadena blockchain itself will continue functioning through independent miners and validators. Kadena’s future remains uncertain as community-led efforts may determine the network’s long-term viability.