KAVA Bulls Look to Recover After FTX-Provoked Dip: Price Prediction

• KAVA token began the year with a bullish streak, rising 114% from its January 2 support floor.
• This rally earned the token a place in the „top 10 Cosmos ecosystem coins by market volume.“
• The recent rally for Layer 1 token comes in light of recent advancements in the Kava ecosystem, starting with the listing of the KAVA token on Coinbase.

KAVA Price Prediction As Bulls Look To Recover From FTX-Provoked Dip

KAVA token started 2021 with a bullish streak, rising 114% from its $0.5 support floor on January 2 to a high of $1.11 on January 18. However, bears thrust into the market and spent the next 12 days giving bulls a run for their money before bulls took back control on January 31. At the time of writing, KAVA was trading at $1.041 after gaining 4.65% on the last day and recording 24-hour trading volume of $37 million – 32% higher than its Thursday score. With a live market cap of $414 million, KAVA stands at #93 on CoinMarketCap list.

Top Cosmos Ecosystem Tokens By Market Capitalization

Kava is a decentralized layer 1 blockchain combining Cosmos‘ speed and interoperability with Ethereum’s developer power. This makes it one of top 10 cosmos ecosystem coins by market capitalization and has recently achieved another milestone when it’s token was listed on cryptocurrency exchange Coinbase – an event that saw KAVA soar 24%.

KAVA Lists On Coinbase Exchange

The listing news broke out on January 18th and caused an influx in trading activity among KAVA holders as it gave them access to new users who use Coinbase platform which further helped increase exposure to Kava’s other protocols such as Rise program and Co-op staking pool among others. According to Scott Stuart, CEO of Kava Labs: “I look forward to growing Kava’s exposure to new users, which will have downstream effects for all protocols in the Kava Rise program and the Co-op staking pool.“

FTX Provoked Dip Affects Bullish Streak

Unfortunately, this positive development was not enough to keep bulls afloat as FTX provoked dip affected bullish streak causing prices to go down again but since then bulls have regained strength with four straight green bars taking prices up intraday high of $1.05 today (Feb 3).


Overall, despite some setbacks due to bearish pressure triggered by FTX provoked dip affecting price movements negatively; things seem to be looking up once again as bulls regain strength after being pushed back temporarily while events like listing at Coinbase further contribute towards improving outlook for price predictions related to KAVA tokens as traders continue having confidence in asset value growth potential associated with them moving forward in 2021 and beyond!

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