Price analysis of the Solana (SOL) and Kadena crypto looks anything but negative. Chart analysis and the advent of various events, have shaken both crypto projects greatly.
As we approach what looks like the end of the bearish period for Solana and its SOL token, Kadena seems to be one of the projects with the highest potential growth in 2023.
Solana (SOL) and Kadena (KDA) rising in the crypto market
Starting with Solana, the blockchain has always stood as a rival to Ethereum, following its ups and downs, it seems that the blockchain is picking up its pace to the upside.
This past year for Solana has not been the best, during 2022 it found itself losing much of its value achieved over the years. User confidence has ensured that in recent weeks Solana has found its footsteps, to aspire to be reborn.
Indeed, it seems, not only has the price of its SOL token gone up, but on-chain activity is also on the rise. We are talking about a continuously developing blockchain and one of the most versatile tokens in the world.
With regard to Kadena, the crypto did not have the best 2022 either. Government regulations have a strong impact on Kadena’s price. Tax policies, regulations concerning investments, restrictions on mining, government plans on official digital currencies, and other factors have greatly affected Kadena.
In recent days, though, Kadena seems to be getting back on track. If we used to look at Kadena’s project with little confidence, thinking that it could not survive the bear market, today’s signs tell us otherwise: Kadena is very well positioned for 2023.
The resurgence of Solana and the SOL token
The growths recorded on DEX wallets in the Solana network show a positive signal for the company as a whole. This, albeit reflexively, brings a general interest in the adoption of the Solana network and can be seen as a growth factor.
As a result of the growths in DEX wallets, Solana has seen an increase in revenue, which has allowed the company a financial breather.
Moreover, the increase in revenue can be seen as an indicator of the popularity of Solana and its products, a factor that could attract more traders to the platform.
One of the reasons related to Solana’s growth could also be attributed to activity on the social front. Mentions on Solana’s social accounts have increased by 41% in recent days. All this has led Solana’s token (SOL) to rise in the rankings. Volume has increased from $496 million to $2.65 billion in the past month.
The market’s bullish change of pace is thus quite evident after more than a year of furious retreat, which had been interspersed only intermittently with episodes of tentative recovery. Chart analyses also see Solana’s bearish trend toward an end.
Kadena a future outlook for 2023
Even during the most recent bullish period, little was said about the Kadena project. The project would have probably deserved more attention from the start.
Attention that seems to be popping up right now during the beginning of 2023. Even though it is a product with quite a few risks, it seems to have developed really well and is for all intents and purposes a very good prospect. We are talking about a PoW protocol that nonetheless aims at scalability, two concepts that might seem like a contradiction in terms, but in fact may become the soul of KDA.
As the market is tightening, reducing development staff, Kadena announced a couple of weeks ago, plans to kick off an ambitious program to increase the number of developers.
At the moment, Kadena’s protocol includes really secure smart contracts, zero-cost transactions for business and operations, scalability, and energy efficiency.
There seem to be all the ingredients for a strong project, 2023 also sees the energy factor as a trend, so it is very important to be part of the sustainable side of crypto.
Kadena’s concept is smart, the potential in the market could be there. Even though the past years have not been of strong depth for the project, 2023 could be a springboard for Kadena.