Following the news on upcoming Kadena Account Protocols, prices of KDA jumped straight to the top with over a 40% increase just from last week.
KDA, which is regarded as a potential competitor to ETH, managed to score the 5th spot in the top 100 best-performing coins by market cap over the course of the week, alongside being the 60th most valuable cryptocurrency on the market.
This swift surge of price and performance was primarily due to Kadena’s announcement on Twitter regarding the KIP-0014 update which will have two new account protocols - Guard and Rotatable. Likewise, with this update, Kadena will be bringing in staking support, and a clean, new look for the website.
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What initially put Kadena on track was that it was created by ex-employees of JPMorgan @SirLensALot and @_wjmartino_who were part of its blockchain development crew. Not only that, Kadena’s Layer 1 PoW blockchain, which is one of the most secure smart contract languages in blockchain development, is said to handle 480k transactions per second.
At the moment of writing this article, the price of KDA sits at $16.09, just above NEAR Protocol and PancakeSwap coins, without any major fluctuations, and a total volume of $136,538,176 over the last 24 hours.