Kadena stop work, KDA drop 70%, miners dey control
Kadena don stop all business operations and blockchain maintenance, dem hand over network security to miners and community nodes through one transition binary. Official support plus developer grants for dApps and smart contracts don stop. The announcement make KDA price drop by 70%, KDA/USDT fall to $0.077 for Binance. Traders see RSI go down to 17 plus volume spike pass 222 million, show say the coin don oversold and people dey forced to sell. Over 566 million KDA tokens still lock for mining rewards until 2139. After KDA don drop 99% from the peak for November 2021, e still get risk to drop more, $0.057 na the main support level. The network transition don cause worry for long-term stability and governance. Crypto traders suppose dey watch Kadena support levels, market sentiment and upcoming governance updates for better entry points.
Bearish
Di Kadena shutdown and miner takeover put pressure sharp sharp on KDA price, wey cause big sell-off plus technical signs show say dem don oversold am. For short term, forced liquidations and low RSI just dey show say downwards movement go continue. No official support plus confusion about how dem go handle governance for long term dey make investors lose confidence, e limit di buyers dem. Over 566 million tokens still lock till 2139, e reduce circulating supply but no too much to stop di immediate down pressure. Traders fit see small bounce around $0.057 support, but di bad feeling plus technical background mean say risk still dey say price fit go down more. Overall, news dey bearish for KDA.