• Kadena pumps after Binance listing.

• Profit-taking has triggered a minor correction, but overall momentum is bullish.

• Kadena’s core metrics as a platform blockchain are behind its strength.

Kadena (KDA) is one of the best performers today and is currently up by over 14%. This follows news that the KDA token was now listed on Binance, the world’s largest exchange by volumes,

The Binance listing is huge as it opens Kadena up to a wider range of investors. This will result in higher volumes and greater demand when the money returns to the crypto market.

However, Kadena is more than just a Binance-driven pump. Kadena is a worthwhile investment. Kadena can scale well and has one of the lowest fees platforms blockchains. Kadena, which runs on the Proof-of-Work algorithm, is one of the most secure platform blockchains. It is ideal for companies looking to create sophisticated financial solutions that need high levels of security.

Interestingly, though Proof-of-Work is getting a bad reputation lately for its energy consumption, Kadena doesn’t have this problem. Because the Kadena Proof-of-Work algorithm does not increase the cost of use, this is why. It combines the safety of PoW and the efficiency of Proof-of-Stake, which allows it to combine both.

This is one of the major factors that contributed to Kadena’s price and adoption increase over the past year.

Kadena Profit-taking triggers correction.

Source: TradingView

Hour before the Binance listing, Kadena’s price was pumping hard. The price corrected a few hours later as traders profited from the anticipation of a post news dump.

Bulls appear to be regaining control. This is an indication that investors continue to buy into Kadena in anticipation for even greater gains. With Bitcoin now pushing back above $40k resistance, Kadena could easily retest the week’s high of $8.30.

Summary

After the Binance listing,

Kadena was pumped. Despite the fact that the price dropped because of profit-taking, it appears to be stabilizing. This shows that there is still strong demand despite price-taking.