Kadena’s Demise: Why Enterprise-Grade Blockchain Lost its Traction

Kadena, once touted as a ‘JPMorgan-bred’ blockchain with enterprise-grade features, has shut down its operations. Its native token KDA plummeted over 60%, reflecting the harsh reality of market shifts and a failure to connect with users and developers. Kadena’s story sheds light on systemic risks in the crypto infrastructure layer as projects struggle to compete in a dynamic landscape. This article explores the key reasons behind Kadena’s downfall, offering valuable lessons for future L1 efforts.