Binance, Ethereum, the world’s largest crypto exchange 
$2,506 Virtual Machine (EVM) based Kaia (KAIA) added its digital asset to its product portfolio. Following this development, KAIA’s price began to decline rapidly.
Binance’s Kaia Support
With its announcement, Binance announced that it will include Kaia in its Binance Simple Earn, ‘Buy Crypto’, Binance Convert and Binance Margin services. Trading began on October 31.
Although the KAIA price experienced a noticeable rise immediately after the listing, it can be stated that the subsequent decline was actually an expected decline. The cryptocurrency, which was traded at $ 0.1313 at the time of writing, broke the all-time record with $ 0.1572 on October 31, according to CMC data. KAIA, which has lost more than 5 percent in value in the last 24 hours, has increased by 5 percent in the last week.
Kaia’s Performance Goals
According to Kaia’s official website, the smart contract platform aims to provide enterprise-level performance and reliability, reduce fees and offer high-speed transfers:
“Kaia blockchain is designed to provide instant results for transactions, high-speed transaction processing for real-world use cases, reduce the cost of blockchain applications, reduce barriers for end users, and facilitate easy technology adoption for various industries.”
Kaia Virtual Machine (KVM)
The project has its own EVM-based virtual machine that interacts with Ethereum. In this way, it is designed to be compatible with Solidity and Ethereum development tools.
“Kaia Virtual Machine (KVM) provides a robust smart contract execution environment based on the Ethereum Virtual Machine:
- Supports all EVM opcodes and Kaia-specific precompiled contracts.
- Compatible with Solidity and Ethereum development tools (e.g. Remix, Hardhat, Foundry).
- “It allows developers to port Ethereum smart contracts to Kaia with minimal changes.”
These features make Kaia a flexible and integrated platform for developers.
While Kaia’s listing by Binance may have increased the platform’s visibility, it may have put pressure on the price in the short term due to current market dynamics.
Investors and users continue to monitor how the technological advantages Kaia aims to offer will impact long-term success.
The features developed by Kaia and the integration of Binance show its potential to gain a strong foothold in the ecosystem.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
