• Kava (KAVA) saw a more than 10% surge on Wednesday and is currently trading more than 20% up this week.
• The surge was sparked by the announcement that the cryptocurrency would be listed on Coinbase.
• Kava is a decentralized blockchain that seeks to combine the speed and interoperability of Cosmos with the developer power of Ethereum.
Kava (KAVA) saw an incredible surge in its price on Wednesday, with the cryptocurrency seeing a more than 10% rise and trading more than 20% up this week. This surge was sparked by the announcement that Kava would be listed on Coinbase, the world’s most popular cryptocurrency exchange.
Kava is a decentralized blockchain that seeks to combine the speed and interoperability of Cosmos with the developer power of Ethereum. This combination allows developers to build fast and secure decentralized financial applications. Kava is already used by many DeFi projects, including MakerDAO and Compound, and its listing on Coinbase will likely open up the platform to more users and developers.
The surge in Kava’s price was further bolstered by the broader crypto market rally this week, with the likes of Bitcoin and Ethereum both gaining close to 30%. Kava has now reclaimed the $1.0 per token level for the first time since mid-November and rallied above its 100-Day Moving Average for the first time since August 2022. This month’s gains for Kava now stand at just under 80%, with the cryptocurrency’s listing on Coinbase likely to provide further upward momentum.
The listing of Kava on Coinbase is thus another milestone for the cryptocurrency, and its surge in recent days could be a sign of further gains to come. Kava is currently targeting the $1.30 resistance zone, and if it can break through this level then further gains could be on the horizon. With Coinbase’s backing, Kava could be well positioned to continue its impressive run and challenge the previous all-time high of $2.43.