KAVA Soars 31% This Week With Anticipation Of Mainnet Upgrade

Name	Symbol	Market	Market Cap ($)	Algorithm
Kava BEP2 Token	KAVAUSD	Crypto	532,006,529	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Kava BEP2 Token

KAVAUSD

Crypto

532,006,529

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.0612	14.20%	0.4922	0.4918	0.492

Price Change

Price Change %

Current Price

Bid Price

Offer

0.0612

14.20%

0.4922

0.4918

0.492

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.5091	0.4157	0.4304	0.431	0.245000 - 1.15

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.5091

0.4157

0.4304

0.431

0.245000 - 1.15

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	13:04:00	72.94	0.4922	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

13:04:00

72.94

0.4922

USD

Price x Volume	Volume	Base Symbol	Related Pairs
1,665,230.89	3,573,342.74	KAVA	KAVAEUR	KAVAGBP	KAVABTC

Price x Volume

Volume

Base Symbol

Related Pairs

1,665,230.89

3,573,342.74

KAVA Soars 31% This Week With Anticipation Of Mainnet Upgrade

14/05/2023 3:20pm

NEWSBTC

KAVA, the utility token of decentralized blockchain Kava, has been on a strong bullish trend in the last few days. The cryptocurrency maintained this momentum despite the bearish market sentiment in the past week, garnering an impressive 31% price gain. To end what was a largely positive week, a proposal to initiate the first phase of Kava Horizon was submitted by the Layer-1 ecosystem. Related Reading: BRISE Gains 21% In 24 Hours – Could This Be A Market Recovery? KAVA Price Overview Recently, the KAVA token has been on a positive price rally, gaining more than 30% of its value in the last seven days. For long-term investors, this may be seen as some form of recovery, as the coin had not been performing well until a week ago. To put this into perspective, the token has only increased by 1.6% in the past month. In fact, up until the 8th of May, the price of KAVA was on a steady decline, losing nearly 29% of its value in three weeks. That said, an upward price movement that started a week ago has seen the token climb up to its previous high of $0.96. As of this writing, KAVA is valued at $0.969, tallying a 4.7% increase in 24 hours. KAVAUSD trading at $0.9754 | Source: KAVAUSD chart from TradingView This latest price increase has been linked to the upcoming upgrade on the mainnet. Scheduled for 17th May, 2023 (15:00 UTC), the “Kava 13” upgrade aims to bring architectural enhancements to the security, scalability, and functionality of the network. Consequently, this will help developers to scale and accelerate their protocols and improve user experience across the ecosystem. According to CoinGecko data, KAVA has a market capitalization of $495.5 million, which places it as the 90th largest cryptocurrency in the market. It is, however, worth noting that the token’s daily trading volume has dipped by 51.7% to $21.9 million in the last 24 hours. Kava Submits Proposal To Initiate ‘Horizon’ On May 13, 2023, Kava advanced its plans to implement the first phase of the Kava Horizon. Codenamed “Proposal 141”, the proposal to initiate this change is now live for community voting. This proposal, if approved, will permanently end all emissions (including POS rewards, Rise rewards, grants, and other reward emissions) by December 31, 2023. However, before this is implemented, two independent foundations will be created to oversee the steady development and maintenance of the permissionless and decentralized blockchain. These two foundations will receive the bulk of emissions till they eventually cease at the end of the year. A future software upgrade – launched subsequent to proposal 141 – will control the flow of all accumulated rewards from the aforementioned foundations. Related Reading: Tether Holds $3.4 Billion In Gold Reserves, Nears ATH Market Cap 1 Year Post Terra Collapse Featured image from Securities.io, chart from TradingView

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KAVAUSD Kava BEP2 Token