JPMorgan’s Blockchain Offshoot Kadena Gets First Ever Token Listing

Bittrex International, one of many world’s hottest platforms for buying and selling cryptocurrencies, is about to change into the primary crypto alternate to record a token by JPMorgan’s blockchain spin-off Kadena.

Kadena token (KDA), is lastly getting its first official itemizing on June 25. Whereas token deposits on KDA wallets on Bittrex can be found instantly, the buying and selling is ready to open on June 26 at 10:00 a.m. EST.

On the preliminary launch, KDA shall be buying and selling in opposition to two cryptocurrencies — Bitcoin (BTC) and main USD stablecoin, Tether (USDT).

Buying and selling on Bittrex International isn’t obtainable within the U.S. and a few sanctioned international locations

By introducing the KDA token on Bittrex International, Kadena obtains important publicity. Bittrex is without doubt one of the greatest crypto exchanges on the planet, with a median day by day buying and selling quantity of about $37 million as of press time.

Nonetheless, KDA trades is not going to be open for all customers worldwide. Bittrex International is not available in the US or other sanctioned countries like Egypt and Cambodia.

KDA to debut buying and selling at a market cap of $13 million

Kadena’s KAD token is the native cryptocurrency for Kadena’s hybrid blockchain platform. This platform relies on conventional Proof of Work (PoW) consensus. After Kadena launched mining in November 2019, a complete of 35 million KDA tokens have entered into circulation thus far. Will Martino, co-founder and CEO at Kadena, says that about 100 million KDA tokens shall be mined over the subsequent 12 months. The worth of Kadena’s KDA token will rely upon the demand and provide.

As of press time, main crypto monitoring web sites like CoinMarketCap and CoinGecko don’t present KDA token’s statistics in full, whereas offering some info on historic value modifications since early June 2020. Martino stated that some “buggy integrations” could possibly be a motive for the problem, noting that previous to Bittrex itemizing, KDA’s market cap stands at $13 million. He stated:

“KDA has been primarily OTC-only since launch in January. Listing on Bittrex International is the primary for KDA. Some fly-by-night so-called exchanges, like Hotbit, have made somewhat buggy integrations that present value knowledge feeds from which CoinMarketCap and CoinGecko pull.”

Kadena introduces a HIPPA-compliant utility for monitoring COVID-19 check outcomes

Alongside its first itemizing, Kadena is open-sourcing a decentralized utility, or dApp, for monitoring and validating COVID-19 check outcomes. The dApp is designed to supply a protected approach for outcomes to get shared amongst medical groups and sufferers. Kadena’s COVID-19 dApp is instantly obtainable on testnet and doesn’t require onboarding KDA tokens or a crypto pockets, the agency stated.

Moreover, Kadena plans to scale its sharded layer-1 PoW blockchain from 10 chains as much as 20 chains. The scaling course of will happen on July 31, Kadena famous.

Spun out of JPMorgan’s Blockchain Heart for Excellence, Kadena raised over $15 million by way of three token sales in 2019, Martino instructed Cointelegraph. “The outcomes of the Nov 2019 token sale haven’t been publicly damaged out,” the exec added.