Kadena Price Up By 9.16% – Time to Buy KDA Coin?

• Pack 4.2.0 launches for improved user experience spurring investors to buy KDA
• Kadena-based launchpad Backalley launches token sale
• The Kadena ecosystem is rapidly expanding with two more launchpads

The crypto market is marching towards resurgence as premier digital asset Bitcoin flips bullish. This has seen the nascent industry hit the $2 trillion mark after a dismal start to 2022. Several altcoins are also contributing to this change in fortune, including the highly smart contract protocol Kadena. A weekly gain of 78.53% has seen several investors rush to buy KDA.

The Kadena is a high-throughput network, as the development team notes that the smart control platform processes a whopping 480,000 transactions per second (TPS).

Built using an in-house tool called Pact, the Kadena network makes the design of safer smart contracts possible while tapping into the well-known security apparatus of the Bitcoin network.

Despite this, Kadena is virtually gas-free, attracting several development teams to the protocol. This might be a great time to buy KDA at a discount with a rapidly expanding ecosystem.

Pact 4.2.0 Launch Generates Excitement

The Kadena team has been working hard in making the protocol more accessible for developers and even more intuitive.

To that end, the Kadena blockchain has recently launched a higher form of its building infrastructure called Pact 4.2.0. This new upgrade comes with anonymous ‘lambda’ functions, which are important in building smart contracts.

Also in tow are new natives for improved user experience, improvements to persistence, and bug fixes to make the protocol safer from malicious attacks.

This would invariably allow smart contracts to be developed with less code, enabling faster ideation and launch of decentralised applications (dApps).

Backalley Token Sale

Kadena has been growing its ecosystem in the last few months and has recently seen an influx of dApps. One of such is Backalley – a launchpad that enables KDA users to access next-generation decentralised finance (DeFi), non-fungible token (NFT), and gaming applications on the Kadena network.

The launchpad is currently preparing for its token sale starting February 14. Users will be able to stake a claim to the 700 million BKA tokens on offer with the KDA token.

More Launchpads Open on Kadena

Launchpads are gaining more traction by the day as more mainstream investors flock into the crypto space. Kadena is also seeing remarkable adoption and has recently onboarded two more launchpads beside Backalley.

Two new entrants are KDLaunch and Hypercentpad, which are expected to create innovative features and allow more users to tap into the Kadena ecosystem.

Kadena’s strong appeal is generating massive buzz among crypto denizens, making now an ideal time to buy KDA.

Technical Analysis of KDA – Breaking Above the Bearish Tide

The crypto market is enjoying a bit of relief after the bearish pains of the early days of 2022. Given this, the nascent industry recently crossed the $2 trillion mark, pointing to a major uptrend as blockchain-based assets find their feet once more.

Kadena is also benefiting from this parabolic surge and is trading at $9.78, up 9.16% in the last 24 hours. Added to this is an impressive weekly gain of 78.53%, which signals a bullish trend building up.

This shows in the 50-hour exponential moving average (EMA) price of $8.39, which is substantially lower than the current KDA price.

The moving average convergence and divergence (MACD) is pointing to a buy signal as the relative strength index (RSI) figure of 66.78 shows that KDA is trading very close to the overbought region.

Furthermore, Kadena breaking above the 61.8% Fibonacci retracement level of $9.75 shows that this is an ideal time to buy KDA as the bullish tide rises.

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