Binance, the largest cryptocurrency exchange, announced its support for network upgrades of Cosmos (ATOM) and Kadena (KDA), which may have an impact on the market.
Support from Binance
Binance announced that it will support the hard forks of Cosmos (ATOM) and Kadena (KDA). The Cosmos (ATOM) network upgrade will occur at block height 21,835,200. Binance will suspend deposits and withdrawals of tokens on the Cosmos (ATOM) network starting from August 21, 2024, at 13:30 (UTC). The Kadena (KDA) network upgrade and hard fork will occur at block height 5,060,924. Binance will suspend deposits and withdrawals of tokens on the Kadena (KDA) network starting from August 21, 2024, at 23:00 (UTC).
Prices of ATOM and KDA
Following the news, market attention turned to the prices of ATOM and KDA. The price of ATOM, which had reached over $10 last year, is now trading at $4.74 after a modest 4.13% increase. The market cap of ATOM reached $1.854 billion, with trading volume exceeding $82.9 million, representing a 26% increase. The price of KDA also saw a rise, now trading at $0.4881 after a 6% increase. The market cap surpassed $139 million, while trading volume grew by 109%, reaching over $9 million. KDA's market cap positions it at 268th place.
The network upgrades for Cosmos and Kadena might significantly impact the market. Stay tuned for further developments.
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