KAVA se mantiene en verde a pesar de que los osos toman el control del criptomercado

El mercado de criptomonedas ha sido volátil en el último día, con precios que a menudo experimentan fluctuaciones significativas. Sin embargo, mientras el mercado se desploma, la moneda KAVA logró desafiar la tendencia al aumentar un 10 % en un solo día entre el 5 de junio y la madrugada del 6 de junio.

Timeline of Kava

The news of the U.S. Securities and Exchange Commission's (SEC) crackdown on Binance has fueled the massive and comprehensive tumbling of thousands of cryptocurrencies. While the combined crypto market cap is down by 3.66% to $1.09 trillion, some altcoins, including KAVA, are maintaining a surprising bullish resilience and have refused to join the broader bearish market slump.

KAVA, the native token associated with the Kava platform, has experienced a whirlwind week regarding its price swing. The token, which began the week trading around $1.03, surged to $1.23 on May 23, driven by positive news within its ecosystem.

In an unexpected manner, KAVA has marked a massive 40% surge, outperforming other digital assets and becoming the biggest growth story of the day. However, the reasons behind this extraordinary rise remain elusive, leading to uncertainty about the future prospects of this token.

South Korean exchange UPbit affirmed that the Digital Asset Exchange Association (DAXA) removed investment warnings on WAVES and KAVA and resumed deposits for these assets, according to a May 23 statement. DAXA issued warnings about WAVES and KAVA last year when stablecoins linked to them were discovered to be “not normally linked to 1 dollar”.

Binance, the world's leading cryptocurrency exchange, has revealed plans to back Terra Classic's v2.0.1 and Kava 13 mainnet upgrades. Meanwhile, the trading platform will halt deposits and withdrawals of USTC and LUNC today, 17 May. The same applies to KAVA.

KAVA, the utility token of decentralized blockchain Kava, has been on a strong bullish trend in the last few days. The cryptocurrency maintained this momentum despite the bearish market sentiment in the past week, garnering an impressive 31% price gain.

The crypto market has been on the decline in the last few days even as meme coins like PEPE and LADYS staged staggering price surges. The leading cryptocurrencies by market cap have been the worst hit by the bear market leaving only three major tokens (KAVA, Bitcoin SV, and FLOKI) in the green.

While the rest of the crypto market remained muted over the last day with losses, KAVA has gone against the trend. The cryptocurrency is currently trading in the green with double-digit gains over the last day.

Kava network's governance token, KAVA, has registered massive gains amid the ongoing market-wide rally. The token has risen drastically, even when most coins surrendered to the just-faded bearish trend.

Amid the bearish crypto market, the KAVA token emerged as the top daily gainer with a 10.29% over the past 24 hours. The crypto market is currently dancing to tunes played by the bears as depressing sentiments push coin prices toward bottoms.