- Kava 8 mainnet launch is less than two days away.
- Users on the platform will soon enjoy multiple new features.
- The price of KAVA could surge during this time.
There are only less than two days for the Kava platform’s latest launch. Users are staying tuned to see the launch of the Kava 8 mainnet. The platform promises a very exciting launch saying that it is the most feature-packed launch so far.
Kava started in 2018. The cross-chain DeFi lending platform acts somewhat like a decentralized bank. To specify, Kava allows users to take loans by locking in their collateral in exchange for the stablecoin — USDX.
At the moment, the platform runs on Cosmos SDK. Kava 8 will allow Kava Swap to go live. This is a cross-chain Autonomous Market Making (AMM) platform. It is a space where users can swap assets between different blockchains.
To highlight, the Kava 8 upgrade will have the platform shift from chain-id “kava-7” to chain-id “kava-8”. Specifically, the upgrade will go live at 15:00 UTC on August 30, 2021. This means that the Kava chain will halt at block height 1878509, a couple of hours before the time of upgrade.
Presently, the platform’s native token KAVA is trading at $8.15, according to CoinGecko. Moreover, it has a market cap of $664,321,232 and is trading at a volume of $98,030,228. As the crypto space saw a surge over the past week, KAVA was also subject to it.
In particular, the token saw a significant hike in its price. In fact, it set a new all-time high record at $8.84 on August 22, 2021. The KAVA token is used on the platform for a variety of functions. For instance, KAVA can be used for governance, security, and recapitalization.
Most traders are hoping that the price of KAVA will go up once again during or following the Kava 8 mainnet launch. This possibility is very likely, as it did, with the Alonzo testnet launches for Cardano. The price of ADA surged immensely during its successful testnet launches.
Therefore, both ADA and KAVA are awaiting price surges once both the Alonzo mainnet and the Kava 8 mainnet go live. Based on this historic similarity, it is likely that the price of KAVA could hit $15 soon, or perhaps, even higher.