Kadena Halts Operations as Native Token Drops 50%

Kadena Ceases Operations Amid Market Turmoil

Key Highlights

• Kadena's operating company has terminated all business and network functions, citing challenging market conditions.
• The native token experienced a 50% decline following the announcement.

Market Impact

Kadena announced today the immediate cessation of all business activities and the discontinuation of its blockchain network maintenance, leading to a sharp 50% decline in its native token's value. The decision, driven by unfavorable market conditions, leaves only a small team to oversee the transition, effectively ending Kadena's network development. Users and token holders now face the absence of technical support and future updates.

The shutdown signals the end of Kadena's blockchain operations, prompting third-party developers and service providers to shift focus to alternative networks.