KAVA, the native token of Layer-1 blockchain Kava, has surged nearly 40% last week as its network prepares to undergo a major mainnet upgrade.
KAVA Mainnet To Be Held On May 17th
The "Kava 13" upgrade will speed up transactions on the network and offer more security when it goes live on May 17. The network will also launch a new bridge that facilitates the transfer of assets from Cosmos to protocols in Kava.
KAVA rallied nearly 10% last Wednesday after token holders proposed ending the project's various grant and bounty programs by the end of the year. According to CoinGecko data, the market cap of the token is $513 million.
Despite KAVA's gains over the past week, the token price has been trending downward as early buyers take profits.
On the other hand, Kava aims to provide a more robust and reliable infrastructure for its users by implementing advanced security measures. This focus on security is critical to maintaining the integrity of the network and securing user assets.
The Kava 13 upgrade demonstrates Kava's commitment to continuous innovation and development in the blockchain industry.
By actively developing its network, Kava aims to position itself as a leading blockchain platform that offers both speed and security and meets the growing demand for efficient decentralized solutions.
The increase in value of KAVA prior to the mainnet upgrade indicates that the market has accepted the potential benefits and value proposition of the upgrade. However, according to the "buy when the news is announced, sell when it happens" situation, contrary to the rise after the update, decreases can also be seen.
However, it is important to remember that cryptocurrency markets can be volatile and investors should be careful when making investment decisions.
At the time of this writing, KAVA's price was trading at $0.98.
*Not investment advice.
