The company behind the Kadena blockchain announced on Tuesday that it is shutting down – and while the decentralized blockchain will remain online, the KDA token linked to it has rapidly fallen in price following the news.
The Kadena organization wrote on X that it “is no longer able to continue operations and will immediately cease all operations and active maintenance of the Kadena blockchain.”
Traders were quick to react to the news, with KDA’s price currently down over 47% at the time of writing at a price of $0.121. That’s more than 99% lower than the all-time high price of $27.64 in 2021, according to data from CoinGecko.
PUBLIC ANNOUNCEMENT KADENA
We regret to announce that the Kadena organization is no longer able to continue its business operations and will immediately cease all business operations and active maintenance of the Kadena blockchain.
We are extremely grateful to everyone who…
— Kadena (@kadena_io) October 21, 2025
The network was founded by a pair of JP Morgan veterans, Stuart Popejoy and William Martino, who had helped develop the financial giant’s first foray into blockchain. The Kadena mainnet went online in January 2020.
Editor’s note: This story is current and will be updated with additional details.