Kadena announced the cessation of operations, and KDA plummeted nearly 60%

ChainCatcher news, according to The Block, the organization behind the public chain project Kadena has begun liquidation and will cease all business and maintenance activities due to unfavorable market conditions; its PoW chain will continue to operate until miners and maintainers exit.

The current price of KDA is approximately $0.092, with a daily decline of over 59%, significantly down from the 2021 peak of $27. The team stated that approximately 566 million KDA will be continuously distributed as mining rewards until the year 2139. Kadena was founded by Stuart Popejoy and William Martino in 2019, raising a total of about $15 million.