- The KAVA crypto has lost its value by 92.3% from its all-time high.
- The open interest of the KAVA crypto is witnessing a decline in the last 24 hours.
Kava is a DeFi platform on Cosmos that offers interest, loans, and governance with its tokens, Kava and USDX. It was created by Kerr, O’Donnell, and Stuart. It uses Tendermint and Hard Protocol to enable borrowing and lending of various cryptocurrencies. Kava is a versatile and innovative DeFi solution.
The market cap dominance of KAVA crypto is 0.05% and the supply inflation of the crypto is very high at 226.51%. The market cap of KAVA has declined by 4.27% in the last 24 hours.
The trading volume of the crypto has also witnessed a decline of 5.8% in the last 24 hours and the traded value in this timeframe is $24.993 Million. KAVA is the 81st largest cryptocurrency in the global cryptocurrency market.
The crypto is further indicating bearishness as per its derivatives data. It has witnessed a long liquidation of $17.83K. The derivatives volume of the crypto has declined by 18.89% and the long/short ratio of the crypto is 0.941.
KAVA Blockchain Overview
The circulating supply of the KAVA token is 1.082 Billion KAVA while its max supply is infinite. It has a fully diluted market cap of $751.365 Million.
Additionally, it has a stablecoin market cap of $131.34 Million with a Total Value Locked of $232.02 Million. The total raised amount by the crypto is $0.75 Million and the recorded inflows of the crypto are worth $12.1K.
KAVA Crypto Technical Analysis
The KAVA crypto price is trading inside a declining channel and the price of the crypto is consistently declining with a strong downtrend on the charts. The KAVA crypto is trading in a bearish structure, forming lower highs which indicates the presence of sellers.
If the price of KAVA manages to break above the declining channel pattern with good volume, we might witness a change in trend to bullish.
KAVA/USD Chart by TradingView
By taking rejection from the 20-day and the 50-day EMAs, the price of the KAVA crypto is following a downtrend. The price has declined below the EMAs and the 50-day and the 200-day EMAs are forming a death cross.
The MACD indicator is also showing weakness in the trend of the crypto and the signal line is situated below the zero level.
The RSI is also below the 50-level and is sustaining below the same for a long time, indicating weakness in the momentum of KAVA.
Summary
The KAVA crypto price is in a strong downtrend and it is close to its all-time lows. The market cap, volume, and open interest are declining. The indicators are bearish and the price is trapped in a declining channel,indicating weakness in the price.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.