Important points
Kadena’s operating company has suspended all business and network operations due to the deteriorating market environment. The project’s native token fell by 50% following the closure announcement.
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Kadena’s operating company announced today that it would immediately cease all business operations and cease maintaining the Kadena blockchain network, resulting in the project’s native tokens dropping 50% within hours of the news.
The company cited unfavorable market conditions as the main reason for the closure, leaving only a small in-house team to manage the transition process. This decision will result in an abrupt end to Kadena’s network maintenance and active development, and users and token holders will no longer receive technical support or future updates.
The termination effectively marks the end of Kadena’s blockchain business as third-party developers and service providers begin to pivot away from the network and toward alternative ecosystems.
