Kaia (KAIA) is a newly launched crypto token that has been attracting attention in recent days. Its launch is the result of a merger between two blockchain companies, Klaytn and Finschia.
The relevant governance decisions were made on February 15, 2024, when the two projects were proposed merging their networks was submitted. The goal is to combine the technologies, services and business strengths of Finschia and Klaytn and ultimately establish themselves as Asia’s leading blockchain.
This plan was implemented after broad approval from token holders, with 95% yes votes for Finschia and 90% for Klaytn. According to the company, the merger will create a consolidated network with around 420 dApps and over 45 governance members.
Kaia’s new Chain project aims to provide access to Web3 to hundreds of millions of users in Asia using its powerful public blockchain. The native token KAIA experienced a sharp price increase in the last few days.
Kaia Coin: The reasons for the price increase
The Kaia coin is currently trading at $0.1365 laut CoinMarketCapwhich corresponds to an increase of almost 10% within one day. During the rally, a record high of $0.1572 was also reached on October 31st.
The current price is 22.28% higher than the all-time low of $0.1139 on October 29, indicating high interest from investors.
A sharp increase in trading volume was also recorded on October 31st. At times this was over 130 million US dollars. However, it fell to $77 million in the last 24 hours. While this figure may seem modest compared to the volumes of larger altcoins, it represents a notable milestone for a newly launched cryptocurrency.
KAIA is listed on leading crypto exchanges
In addition, the rebranding has attracted interest from well-known crypto brands such as Binance and CryptoCom, further increasing user interest in the newly named token. The world’s largest crypto exchange Binance KAIA) quit on October 31st that the token KLAYTN would now trade as KAIA.
Furthermore, CryptoCom has reported that the Kaia token is now available on both their trading platform and mobile app. Users can now purchase the KAIA cryptocurrency with US dollars, euros and over 20 other fiat currencies.
Recently, various crypto projects have undergone significant changes, including mergers and rebranding initiatives, to strengthen their market presence and potentially adapt to changing trends.
The best-known example of this is Artificial Superintelligence Alliance (FET) – a new token that was created after the merger of Fetch.ai, SingularityNet and Ocean Protocol.
