Kadena’s KDA token has been removed from major cryptocurrency exchanges after the company behind the blockchain announced it on Tuesday. shut down— and long-running networks will no longer be supported.
Bybit and OKX announced on Wednesday that KDA trading services are beginning to be removed from their respective exchanges.
OKX has already suspended deposits to KDA and plans to suspend spot trading services on October 26th, ahead of the removal of trading pairs on October 29th. Customer withdrawals to KDA will expire on January 22, 2026. On the other hand, Bybit will terminate all lending and borrowing services related to KDA and plans to terminate KDA’s indefinite contract from October 24th.
The company behind the Kadena blockchain announced on Tuesday that it would cease operations, citing unfavorable market conditions, but the decentralized network itself will continue to operate independently.
“We are pleased to announce that the Kadena organization is no longer able to continue business operations and will cease all business activities and active maintenance of the Kadena blockchain, effective immediately,” X’s official Kadena account posted on Tuesday.
Kayden public announcement
Unfortunately, the Kadena organization is no longer able to continue its business operations and we are announcing that we will cease all business activities and active maintenance of the Kadena Blockchain effective immediately.
We would like to express our sincere gratitude to everyone who cooperated. …
— Chain (@kade_io)
Following this announcement, the KDA token plummeted, recently dropping more than 65% to $0.072 on the day. The token price is down 99.7% from its 2021 peak of $27.64.
The team said the Kadena blockchain operates independently through decentralized proof-of-work mining and smart contracts managed by individual maintainers, and the company’s closure will not disrupt network operations. The developer plans to release updated binaries to ensure uninterrupted service without developer involvement.
Founded in 2020 by former JPMorgan executives Stuart Popejoy and William Martino, Kadena positions itself as a “blockchain for business” using proof-of-work consensus: Bitcoin.
The founders had developed JPMorgan’s initial blockchain initiative before launching their own project, arguing that it could surpass and prove more reliable than Bitcoin. Ethereum. But momentum could not be maintained, culminating in Tuesday’s announcement that the organization behind the network was shutting down operations.
