Kadena shuts down operations as token plunges 50%
Crypto Briefing
Kadena's operating company halted all business and network maintenance due to unfavorable market conditions, causing its token to drop 50%.Summary
Kadena's operating company announced the immediate cessation of all business operations and maintenance for the Kadena blockchain network, citing unfavorable market conditions as the primary reason. This decision caused the project's native token to plummet by 50% shortly after the news broke. A small internal team will remain only to manage the transition process. The wind-down effectively ends Kadena's active development and technical support, prompting third-party developers and service providers to shift focus to alternative blockchain ecosystems.
(Source：Crypto Briefing)