Today, Binance announced the launch of futures trading for Kadena (KDA) in an effort to expand the trading options and improve the trading experience for its users.
KDAUSDT Futures Launch
The KDAUSDT perpetual contract will launch with up to 75x leverage. Key details: - Launch Time: 13:00 (UTC) - Underlying Asset: Kadena (KDA) - Settlement Asset: USDT - Tick Size: 0.0001 - Capped Funding Rate: +2%/-2% - Funding Fee Settlement Frequency: Every four hours starting at 16:00 (UTC) - Trading Hours: 24/7 - Multi-Asset Mode: Supported - Maximum Leverage: 75x.
KDA Price Surge Following Binance Announcement
Following Binance’s announcement, KDA’s price spiked to $0.64. At the time of writing, KDA is up by over 26% in 24 hours and has a market cap of almost $183 million.
What is Kadena (KDA)?
Kadena (KDA) is a Proof-of-Work (PoW) blockchain that combines Bitcoin’s PoW consensus mechanism with directed acyclic graph (DAG) principles to deliver a scalable version of Bitcoin. The project provides Bitcoin-level security and high throughput needed for enterprise use. Key features of Kadena include: - Energy efficiency at scale - High transaction throughput - Ability to pay gas fees for users. KDA is the blockchain’s native token with a total supply of 1 billion tokens.
The launch of KDA futures on Binance contributes to the increased popularity and price of Kadena, potentially affecting its usage and adoption across various sectors.
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