JPMorgan’s Blockchain Offshoot Kadena Will get First Ever Token Itemizing

Bittrex World, one of many world’s hottest platforms for trading cryptocurrencies, is about to turn out to be the primary crypto trade to listing a token by JPMorgan’s blockchain spin-off Kadena.

Kadena token (KDA), is lastly getting its first official itemizing on June 25. Whereas token deposits on KDA wallets on Bittrex can be found instantly, the trading is about to open on June 26 at 10:00 a.m. EST.

On the preliminary launch, KDA might be trading in opposition to two cryptocurrencies — Bitcoin (BTC) and main USD stablecoin, Tether (USDT).

Buying and selling on Bittrex World isn’t out there within the U.S. and a few sanctioned international locations

By introducing the KDA token on Bittrex World, Kadena obtains vital publicity. Bittrex is likely one of the largest crypto exchanges on the planet, with a mean day by day trading quantity of about $37 million as of press time.

Nevertheless, KDA trades is not going to be open for all customers worldwide. Bittrex World is not available in america or other sanctioned countries like Egypt and Cambodia.

KDA to debut trading at a market cap of $13 million

Kadena’s KAD token is the native cryptocurrency for Kadena’s hybrid blockchain platform. This platform relies on conventional Proof of Work (PoW) consensus. After Kadena launched mining in November 2019, a complete of 35 million KDA tokens have entered into circulation up to now. Will Martino, co-founder and CEO at Kadena, says that about 100 million KDA tokens might be mined over the subsequent yr. The worth of Kadena’s KDA token will depend upon the demand and provide.

As of press time, main crypto monitoring web sites like CoinMarketCap and CoinGecko don’t present KDA token’s statistics in full, whereas offering some data on historic value adjustments since early June 2020. Martino mentioned that some “buggy integrations” may very well be a motive for the difficulty, noting that previous to Bittrex itemizing, KDA’s market cap stands at $13 million. He mentioned:

“KDA has been primarily OTC-only since launch in January. Itemizing on Bittrex World is the primary for KDA. Some fly-by-night so-called exchanges, like Hotbit, have made quite buggy integrations that present value knowledge feeds from which CoinMarketCap and CoinGecko pull.”

Kadena introduces a HIPPA-compliant utility for monitoring COVID-19 check outcomes

Alongside its first itemizing, Kadena is open-sourcing a decentralized utility, or dApp, for monitoring and validating COVID-19 check outcomes. The dApp is designed to supply a protected method for outcomes to get shared amongst medical groups and sufferers. Kadena’s COVID-19 dApp is straight away out there on testnet and doesn’t require onboarding KDA tokens or a crypto pockets, the agency mentioned.

Moreover, Kadena plans to scale its sharded layer-1 PoW blockchain from 10 chains as much as 20 chains. The scaling course of will happen on July 31, Kadena famous.

Spun out of JPMorgan’s Blockchain Heart for Excellence, Kadena raised over $15 million through three token sales in 2019, Martino informed Cointelegraph. “The outcomes of the Nov 2019 token sale haven’t been publicly damaged out,” the exec added.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *