Kava (KAVA) Bounces by 9.47% in the Crypto Markets With New Milestones and Listings

In Brief:

  • KAVA/USDT is up 9.47% in the last 24 hours according to Coinmarketcap.com.
  • KAVA was recently listed on HotBit and Biki.com.
  • Staking is now available on BitMax.
  • Chainlink is the official oracle provider powering the USDX stablecoin and the official default provider serving all KAVA DeFi projects.
  • Yesterday, April 2nd, marked the launch of the KAVA BNB Bridge Testnet.

The month of April has started off with a greater level of crypto market optimism when compared with the mood of the previous month of March. Looking at Bitcoin (BTC), the King of Crypto is up 4% and currently trading at $6,916. Its resurgence in the markets has allowed other prominent crypto projects such as Kava (KAVA) to gain 9.47% in the last 24 hours. The token is currently trading at $0.533 at the time of writing this.

New KAVA Listings

The resurgence of KAVA in the crypto markets might also be due to the additional liquidity through the token’s recent listings on HotBit and Biki.com. With respect to HotBit, there is a promotion for users to win $100 worth of KAVA. All they have to do is follow both KAVA and HotBit on twitter. Additionally, they have to like the tweet below, retweet it and tag 3 friends.

Staking on BitMax Now Enabled

Additionally, staking of KAVA is now enabled on Bitmax. The team made the announcement via twitter where they explained that staked assets can be used as collateral for leveraged trades.

ChainLink is the Official Oracle Provider for KAVA

Another development worth noting is outlined in the KAVA quarterly report . In the brief document, the team announced that Kava had chosen Chainlink as the official oracle provider to power the USDX stablecoin. The team went on to elaborate on why this move will be beneficial to the Kava ecosystem.

This integration allows all Cosmos chains to use Chainlink price data. After extensive research, we at Kava identified Chainlink as the most secure and reliable oracle solution to power Kava. Chainlink has the highest quality data we’ve seen of any provider & provable decentralized security that is live and battle-tested on mainnet for hundreds of millions already.

KAVA BNB Testnet Bridge Launch

To top it all off, the team at Kava has announced a new milestone of the successful launch of the KAVA BNB Bridge testnet. Such a bridge will allow for the first-ever cross-chain transfer between two Cosmos chains. Eventually, this will allow for the creation of Kava’s USDX using BNB. The testnet was launched yesterday, April 2nd.

Summing it Up

Despite the general uncertainty in the crypto markets brought about by the economic impact of the Coronavirus on the various global economies, the team at KAVA has continually kept building and fulfilling their promises to the community. The token is up 9.47% in the last 24 hours due to the various project developments outlined. They include new listings, staking enabled on Bitmax, the use of Chainlink as the only Oracle provider and the launch of the KAVA BNB Bridge tesnet.

(Feature image courtesy of Mike Bergmann on Unsplash.)

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Crypto Gazette or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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John P. Njui Author

Crypto Enthusiast. Terrible dancer. Former DJ. Amateur Marathoner. Electrical Engineer. Kool kat.

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