Solana (SOL) and Kadena (KDA) are increasing in the cryptocurrency market.
Starting with Solana, the blockchain has always been a competitor to Ethereum, and despite its ups and downs, it appears that the blockchain is on the rise.
This year has not been the best for Solana; in 2022, it lost much of its value gained over the years. User trust has ensured that Solana has recovered its feet in recent weeks, aspiring to be reborn.
Indeed, it appears that not only has the price of its SOL token increased, but so has on-chain activity. We’re talking about a constantly evolving blockchain and one of the world’s most adaptable tokens.
In terms of Kadena, the cryptocurrency also did not have the finest 2022. The price of Kadena is heavily influenced by government rules. Tax rules, investment regulations, mining limits, government intentions for official digital currencies, and other variables have all had a significant impact on Kadena.
Kadena, on the other hand, appears to be getting back on track in recent days. If we used to be skeptical of Kadena’s project, believing that it would not survive the weak market, today’s signals tell us otherwise: Kadena is very well positioned for 2023.
Solana’s resurgence and the SOL token
The increases of DEX wallets in the Solana network are a good sign for the corporation as a whole. This, albeit reflexively, generates public interest in the Solana network’s adoption and can be viewed as a growth factor.
Solana has witnessed a rise in revenue as a result of the expansion in DEX wallets, giving the company a financial break.
Furthermore, the increase in revenue might be interpreted as an indication of the popularity of Solana and its products, which may draw additional traders to the platform.
One of the reasons for Solana’s growth could possibly be ascribed to social activity. Mentions on Solana’s social media profiles have risen by 41% in the last several days. As a result of all of this, Solana’s token (SOL) has risen in the rankings. In the last month, volume has climbed from $496 million to $2.65 billion.
After more than a year of violent retreat punctuated only irregularly with moments of uncertain recovery, the market’s bullish change of pace is thus clearly obvious. Solana’s negative trend is likewise coming to an end, according to chart analysis.
Kadena’s predictions for 2023
Even during the most recent bull run, there was little talk about the Kadena project. The project would have benefited from more attention from the start.
Attention that appears to be surfacing now, at the start of 2023. Despite the fact that it is a risky product, it appears to have developed well and is, for all intents and purposes, a highly promising potential. We’re talking about a PoW protocol that also aims for scalability, which may appear to be a contradiction in terms, but may become the soul of KDA.
As the market tightens, lowering development workforce, Kadena revealed a few weeks ago that it intends to launch an ambitious effort to boost the number of developers.
At the moment, Kadena’s protocol incorporates truly secure smart contracts, zero-cost business and operations transactions, scalability, and energy efficiency.
There appear to be all of the ingredients for a great initiative, and 2023 views the energy factor as a trend, so being part of the sustainable side of crypto is critical.
Kadena’s concept is sound, and commercial potential may exist. Despite the fact that the project’s depth has been lacking in recent years, 2023 might be a catapult for Kadena.
Disclaimer: The thoughts and opinions expressed in this price analysis, as well as any information supplied, are presented in good faith. Readers are responsible for conducting their own research and due diligence. Any action the reader takes is entirely at their own discretion. Cryptotechnews24 and its affiliates are not liable for any direct or indirect loss or damage.
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