The Kadena team announced the immediate cessation of operations, with the KDA price plummeting by over 60% in a single day.

The Kadena team announced that due to unfavorable market conditions, it will immediately cease all business operations and active maintenance. The team expressed gratitude to all supporters and expressed regret that they can no longer promote this unique decentralized project. Kadena's native token KDA fell by more than 60% that day and is currently priced at approximately $0.11. It previously hit a high of $27 in 2021. The Kadena blockchain will continue to operate until miners and maintainers exit, and approximately 566 million KDA mining rewards will continue to be distributed until 2139. The project was founded in 2019 by former SEC and JPMorgan Chase employees Stuart Popejoy and William Martino, who participated in the development of the predecessor of the JPMorgan Kinexys blockchain. Kadena has raised approximately $15 million in funding to date.