Several crypto exchanges, including Bybit and OKX, have begun delisting the Kadena (KDA) coin after the network’s development team announced it was shutting down operations due to difficult market conditions, leading to a significant price collapse.
In just one week, Kadena’s market cap fell from $82 million to $19.5 million, while the coin’s price fell by 76% to $0.058.
The Kadena team, founded in 2020 by several former JP Morgan executives, confirmed that all commercial activities and physical maintenance of the network had been halted immediately, noting that the decision was a result of “unfavorable market conditions.”
For its part, OKX announced the suspension of deposits for the currency, the discontinuation of spot trading on October 26, the final deletion of trading pairs on October 29, and the disabling of withdrawals on January 22, 2026.
Decrypt reports that Kadena’s losses have reached nearly 99.7% compared to its peak in 2021, when it reached a record price of $27.64 per coin.
