Kadena Token Plummets 60% After Shutdown Announcement

The Kadena organization announced the immediate cessation of all operations and maintenance of its blockchain, citing prolonged market challenges. This decision marks the end of nearly a decade of development for the proof-of-work Layer-1 network, founded by former JPMorgan and SEC executives Stuart Popejoy and Will Martino. 60% price drop in KDA token reflects panic selling as the organization’s closure leaves its blockchain independent via miners and node operators.