Kava 11 Liquid mainnnet will go live on Wednesday at 16:00 UTC, here’s everything you need to know on what the launch brings to the ecosystem.
According to the official website, Kava is a lightning-fast Layer-1 blockchain featuring a developer-optimized co-chain architecture that combines the two most used permissionless ecosystems – Ethereum and Cosmos – into a single, scalable network.
The Kava Network, through its official Twitter account, announced the launch of the Kava 11 Liquid mainnet. The mainnet passed all the audits and testing, and it is all set to launch on Oct 26, 16:00 UTC.
The mainnet upgrade
Kava 11 aims to bring the explosion in Total Value Locked (TVL) and protocol onboarding. The team aims to achieve this goal through liquid staking and by supporting Kava EVM assets in mint and lend.
The upgrade will bring features like Liquid Staking and Kava Earn, where the stakers will earn more rewards on top of their staking rewards using the Kava protocol. The users can also boost their staking rewards by supplying bKAVA to the protocols.
Furthermore, developers will be able to sign Software Development Kit (SDK) transactions for Ethereum Assets in a single MetaMask wallet.
The launch’s effect on the price of KAVA
The price of Kava pumped on Thursday due to the announcement. However, it could not close above 1.439. The price formed a double bottom pattern and finally brokeout from the neckline on Sunday.
The coin is trading above the 50-day Exponential Moving Average (EMA). A close above the EMA today can be considered bullish because the resistance of the EMA will turn into support.
The area around 1.609 is the next critical horizontal resistance. 10-week EMA also lies near the same area. The price may consolidate around that area for a while before rallying ahead.
If the price tests the resistance zone tomorrow, it may even see a reversal because it is the event day. Generally, there is a huge sell-off on the day of the event. The presence of solid resistance adds to the probability of a reversal.
Source: TradingView
