Kadena shuts down operations as token plunges 50%
Key Takeaways
- Kadena’s operating company has ceased all business and network operations, citing adverse market conditions.
- The project’s native token dropped 50% following the shutdown announcement.
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Kadena’s operating company announced today it will immediately halt all business operations and stop maintaining the Kadena blockchain network, causing the project’s native token to plunge 50% within hours of the news.
The company cited unfavorable market conditions as the main reason for the shutdown, retaining only a small internal team to manage the transition process. The decision brings an abrupt end to Kadena’s network maintenance and active development, leaving users and token holders without technical support or future updates.
The wind-down effectively marks the conclusion of Kadena’s blockchain operations, as third-party developers and service providers begin pivoting away from the network toward alternative ecosystems.
