The Kadena Organization, responsible for the Kadena Layer 1 blockchain, has announced its immediate shutdown, leading to a 60% drop in the KDA token's value. Despite the organization's closure, the network will continue to operate through independent miners and smart contract operators, though without support from the founding team. This announcement has exacerbated the token's decline, which has fallen 85% over the past year, now trading at just 0.3% of its 2021 peak valuation. The Kadena network had previously reached a total value locked (TVL) of $9 million in March 2022, with a fully diluted valuation (FDV) of $6.5 billion. Interest in KDA saw a brief resurgence in December 2024, marked by the highest trading volume since Q2 2022. In July 2025, CEO Stuart Popejoy discussed a $50 million ecosystem funding plan, though the status of these funds remains unclear. The organization plans to engage with the community regarding the future of locked and unmined tokens.
Kadena Organization Ceases Operations, KDA Token Drops 60%
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