Kadena rises 55% after listing on Binance

Binance surprised the Kadena community by placing the coin on its platform this Friday (11), causing it to actively skyrocket in the market.

Although a new and unknown project, the coin has a feature that draws attention to its ecosystem, which is advised by cryptographer Stuart Haber, most quoted by Bitcoin creator Satoshi Nakamoto in his white paper.

I am eagerly looking forward to my chat with the other Stuart blockchain. But don’t forget the other “most cited author”, my co-author and partner Scott Stornetta, @strangethingitl. https://t.co/2yTFxEjXyH

— Stuart Haber (@StuartHaber) August 7, 2021

Stuart Haber appears twice in the Bitcoin-launched document, and he ended up becoming the “most quoted by Satoshi”. He believes in the potential of blockchain technology and often mentions Bitcoin in his few public tweets.

Binance Lists Kadena, Price Up 55%

Binance announced last Thursday evening (10) at Brasília time that it would be adding the Kadena cryptocurrency to its market, which was eventually listed at 8:30 PM and the price has already skyrocketed on the exchange.

Kadena’s trading pairs on the exchange will initially be only KDA/BTC, KDA/BUSD and KDA/USDT. Prior to this offering, cryptocurrency was bought with more liquidity on Kucoin and others like Bittrex, for example.

With the arrival on Binance, the global coin community has one more option to trade, which has already delivered a ROI of 660% since its launch in January 2020. Despite this, according to data from CoinGecko, this coin has plunged by 73% since then. the November 2021 record, when each KDA was worth $27.60.

When listed on Binance, it rocketed 55% to reach a price of US$9.67 per coin, after opening on the exchange it was listed at US$6.21.

What is Kadena? Competitor of Ethereum and Solana

Known for creating the JPMorgan banking blockchain, the creators of Kadena are Stuart Popejoy and Will Martino. Recently, seeing that Solana was going through several problems in the market, Stuart criticized this network saying it can be hacked.

This network also uses Proof of Work mining, similar to Bitcoin, but claims that its network transactions are free.

In addition, Kadena is also a competitor to Ethereum and instead of using Solidity to create smart contracts, it uses the Pact language. This informs the developers of the project that network users are more secure against code problems.

Despite being a relatively new project, having been on the market for just over two years, it is already a partner of Ledger, Polkadot and other companies in the industry. In any case, it is still a solution that has to prove itself over time and can pose a high risk in market transactions.