Looking over the cryptoasset markets of recent, many altcoins have seen surges in their price, with some coins even tripling in value. Just over the last month, Solana (SOL) has been on a bullish streak seeing a rise of over 50%. Shiba Inu has seen an even greater price movement increasing over 100% of recent. Though both have seen positive movement, they pale in comparison to Decentraland (MANA) which has skyrocketed over 400%.
Dominating the latest bullish run of the crypto markets, is underdog Kadena, a cryptoasset created as a ‘chainweb’ which is a parachain to the Kusama (KSM) network with the moto that ‘makes blockchain work for everyone’. Over the month of October and through into November, Kadena has shown that is wishes to contend with the other big blockchain projects. As reported through the market periodical, the coin has increased by 1165% since the 1st October till the time of witing.
The Kadena coin has had a bullish run of recent, with analysts stating the coin is showing an RSI of 88, suggesting exponential growth but also that it is overbought. As with any asset that is suggested to be overbought, this could mean some investors may be looking to cash out of their coins. During the peak of this rally for Kadena, the coin reached a price of $28.20. This shows the community is interested in this project and could more positive movements in the future.
There is yet to be an indication of a bearish trend with Kadena, as many technical analyses prove that this coin is moving up. Despite the high current spike in price, many KDA traders have expressed strongly in holding their assets for the long term.
If are looking to trade Kadena KDA, the best brokerage in the UK to choose is BC Bitcoin!
