Autor: dot-traders

• Kadena is a blazingly fast Ethereum rival that handles over 450k transactions per second.
• Its price has rebounded in the past few weeks as cryptocurrencies rebound.

Kadena price has been in a strong bullish trend in the past few days as investors bought the coin’s dip. The coin surged to a high of $1.2472, the highest level since November 15. It has jumped by more than 200% from the lowest level this year. So, is it safe to buy Kadena?

What is Kadena and is it a good buy?

Kadena is a leading proof-of-work (PoW) layer-1 network that makes it easy for developers to build decentralized applications. It is an Ethereum rival that was created by two ex-JP Morgan employees. 

Kadena is known for several key reasons. First, it is a proof-of-work blockchain like Bitcoin and Litecoin. This means that new coins are validated through mining. While PoW is not an environment-friendly process, Kadena’s developers believe that their technology has lower emissions than other networks.

Second, Kadena is known for the speed of its transaction. While Ethereum handles less than 20 transactions per second (TPS), Kadena handles over 450k. This makes it one of the fastest network in the blockchain industry.

Further, Kadena launched Kadena Eco in 2022 to incentivize developers to the network. Kadena Eco is a $100 million grant program that provides funding to developers who are building projects in the network.

Kadena’s ecosystem is relatively small but its developers hope that it will keep growing. According to DeFi Llama, the network has a total value locked (TVL) of over $9.1 million, with Kaddex having dominance of 82%. At its peak, it had a TVL of over $31 million.

Kadena price has rallied because of the upcoming news and milestones in the network In a tweet, the developers said that they will unveil new Kadena Eco grantees announcements and a roadmap upgrade.

Still, the biggest challenge that Kadena faces is that its industry is getting competitive, with projects like BNB and Tron having a substantial market share.

Kadena price forecast

                                                    Kadena chart by TradingView

The four-hour chart shows that the KDA price has been in a strong bullish trend in the past few weeks. In this period, the coin has rallied above the 25-day and 50-day moving averages while the MACD has moved above the neutral level. 

Kadena’s current price is at the highest point since November 27 while the Relative Strength Index (RSI) has been in a bullish trend. Therefore, Kadena price will likely continue rising as buyers target the key resistance level at $1.200. 

The post Is it safe to buy Kadena as the rebound accelerates? appeared first on CoinJournal.

Digibyte price has been in a slow recovery pace in the past few weeks as investors buy the coin’s dip. The DGB coin was trading at $0.0077 on Monday, which was about 26% above the lowest level this year. According to CoinMarketCap, it has a market cap of over $122 million, making it the 164th biggest coin in the world.

What is Digibyte and is it a good buy?

Digibyte is a proof-of-work (PoW) cryptocurrency that was established in 2014. It was created from the code of Litecoin and has a unique Genesis Block. Since then, it has gone through a series of soft forks and hard forks that led to the improvement of the network.

Digibyte has extensive speed and scalability features. According to its developers, it has a block timing rate of 15 seconds. Like Bitcoin, Digibyte has a supply limit of 21 million coins that will be fully mined by 21 million.

Other features in its ecosystem are multiple algorithms, GPU/FPGA mining, on-chain scaling, and educating the importance of running a full node. 

There are several reasons why Digibyte price has recovered recently. First, this recovery is in line with the performance of other cryptocurrencies, including BTC and ETH. They have all recovered as investors buy the dip.

Second, the coin has gained several integrations recently. For example, it was one of the networks that was added in Atomic DEX ecosystem. It was also added to Santiment’s platform, meaning that users can conduct on-chain analytics on the network. Meanwhile, the Digibyte Foundation was relaunched in November. 

Still, like other coins, Digibyte’s on-chain analytics have not been encouraging as investors ponder the collapse of FTX that we wrote about here. The number of new wallets has been falling while user transactions have declined.

Digibyte price forecast

                    Digibyte chart by TradingView

The four-hour chart shows that the Digibyte price has been in a slow bullish trend in the past few weeks. In this period, it has managed to form an ascending triangle pattern and move above the 25-day and 50-day moving averages. The MACD has moved above the neutral point while the Relative Strength Index (RSI) has moved to the neutral point.

Therefore, the Digibyte price will likely have a bullish breakout as buyers target the next key resistance level at $0.00900. This view will be confirmed if the price moves above the important resistance level at $0.0080. A drop below the support at $0.0075 will invalidate the bullish view.

The post DigiByte price prediction for December 2022 appeared first on CoinJournal.