Kadena shuts down operations as token plunges 50%

Key Takeaways

Kadena’s working firm has ceased all enterprise and community operations, citing antagonistic market situations.
The venture’s native token dropped 50% following the shutdown announcement.

Kadena’s working firm introduced right now it would instantly halt all enterprise operations and cease sustaining the Kadena blockchain community, inflicting the venture’s native token to plunge 50% inside hours of the information.

The corporate cited unfavorable market situations as the primary purpose for the shutdown, retaining solely a small inside workforce to handle the transition course of. The choice brings an abrupt finish to Kadena’s community upkeep and lively growth, leaving customers and token holders with out technical assist or future updates.

The wind-down successfully marks the conclusion of Kadena’s blockchain operations, as third-party builders and repair suppliers start pivoting away from the community towards different ecosystems.