Kava 11 Liquid goes live in 24 hours

The Kava 11 Liquid mainnet will go live on Wednesday at 16:00 UTC, here’s everything you need to know about what the launch brings to the ecosystem.

According to the official website, Kava is a lightning-fast Layer-1 blockchain with a developer-optimized co-chain architecture that combines the two most used permissionless ecosystems – Ethereum and Cosmos – into a single, scalable network. Is.

The Kava Network, via its official Twitter account, announced Launch of Kava 11 Liquid Mainnet. The mainnet has passed all the audits and tests, and it is all set to launch on October 26, 16:00 UTC.

mainnet upgrade

Kava 11 aims to bring about an explosion in Total Value Locked (TVL) and protocol onboarding. The team aims to achieve this goal through liquid staking and by backing Kava EVM assets in mint and lending.

The upgrade will bring features such as Liquid Staking and Kava Earn, where stakers will earn more rewards on top of their staking rewards using the Kava protocol. Users can also increase their stake rewards by supplying bKAVA to the protocol.

In addition, developers will be able to sign software development kit (SDK) transactions for Ethereum assets in a single MetaMask wallet.

KAVA. Impact of launch on price of

The announcement led to a rise in the price of kava on Thursday. However it could not close above 1.439. The price formed a double bottom pattern and finally broke the neckline on Sunday.

The coin is trading above the 50-day Exponential Moving Average (EMA). A close above the EMA can be considered bullish today as the resistance of the EMA will turn into support.

The area around 1.609 is the next important horizontal resistance. The 10-week EMA is also located near the same area. The price may consolidate around that area for some time before moving further.

If the price tests the resistance area tomorrow, it could also see a reversal as it is the day of the event. Generally, there is heavy selling on the day of the event. The presence of solid resistance adds to the possibility of a reversal.

kava price
Source: TradingView

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