YEREVAN (CoinChapter.com) — Kadena (KDA) skilled a big price bounce final week, almost 23%, reaching $0.6332. This enhance adopted Binance’s announcement of latest futures buying and selling for Kadena. This information contributed to the token’s surge.

Unpacking Kadena’s Market Dynamics

On September 18, Binance launched the KDA/USDT USD-Margined perpetual contract, which led to a rise in On September 18, Binance launched the KDA/USDT USD-Margined perpetual contract, which led to a rise in buying and selling exercise.

During the last 24 hours from the snapshot, Kadena’s buying and selling quantity escalated by 2667.24%, reaching upwards of $101,081,543.

The market cap additionally skilled important progress, up by 22.96%, reaching round $183,330,908. These figures underscore the market confidence in Kadena after Binance’s futures itemizing announcement.

Kadena’s Worth and Provide Metrics

Kadena’s price trajectory has garnered consideration, significantly when considered alongside its historic information. The chart initially reveals a gradual enhance in Kadena’s price from a low of about $0.5237, reaching a peak following the Binance announcement.

Furthermore, the circulating provide of KDA tokens is at present 289,548,698, accounting for 28.95% of the full and most provide of 1,000,000,000 KDA.

This provide dynamic, coupled with the introduction of high-leverage futures buying and selling, suggests potential for extra vigorous buying and selling classes forward, as merchants can now extra aggressively speculate on Kadena’s price actions.

Kadena’s Vivid Future: How Binance Futures Trading Boosts Token Costs

Binance’s introduction of futures buying and selling sometimes units a optimistic precedent for the tokens concerned. Historic developments from different tokens like UXLINK and AERGO verify that futures listings on Binance usually result in sustained curiosity and price will increase.

With Kadena’s confirmed scalability as a proof-of-work blockchain and its present market momentum, there’s a strong case for its continued upward trajectory.