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Home»ALTCOIN NEWS»Layer 1 Altcoin KAIA Stumbles Due to New Surprise Binance Listing
ALTCOIN NEWS

Layer 1 Altcoin KAIA Stumbles Due to New Surprise Binance Listing

By Crypto FlexsNovember 1, 20242 Mins Read
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Layer 1 Altcoin KAIA Stumbles Due to New Surprise Binance Listing
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The price of layer-1 blockchain KAIA is falling after receiving sudden support from Binance, the world’s largest cryptocurrency exchange platform by trading volume.

In a new announcement, Binance revealed that it has added Ethereum Virtual Machine (EVM)-based digital assets to its product range starting October 31.

“Binance is excited to announce the addition of Kaia to Binance Simple Earn, ‘Buy Crypto,’ Binance Convert, and Binance Margin.”

The listing news did not have an overwhelmingly positive impact on KAIA, as the cryptocurrency price fell sharply. KAIA has fallen 9.3% from its high of $0.150 on October 31st to its current price of $0.136.

According to Kaia’s official website, the smart contract platform aims to provide enterprise-grade performance and stability while lowering fees and providing high-speed transfers.

“Kaia Blockchain achieves instant finality for transactions, provides high transaction processing speeds tailored to real-world use cases, lowers the cost of running blockchain applications, lowers the barrier to entry for end users, and enables easy technology adoption across a variety of industries. The goal is to promote ”

The project also has its own virtual machine based on EVM, allowing interoperability with Ethereum (ETH).

“The Kaia Virtual Machine (KVM) provides a powerful environment for smart contract execution based on the Ethereum Virtual Machine.

  • Supports all EVM opcodes and additional Kaia-specific precompiled contracts.
  • Compatible with Solidity and Ethereum development tools (e.g. Remix, Hardhat, Foundry).
  • Developers can port their Ethereum smart contracts to Kaia with minimal modifications.”

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may incur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

Featured Image: Shutterstock/Dan Collier/Nikelser Kate

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