$1.9B Cap Kaia Coin Notched 100% Surge in Days: What’s Behind the Rally?

So why were Kaia prices on crypto exchanges so buoyant recently?

It could be a combination of competitive advantages in this crypto economy promising more fundamental value per unit of its currency and an overall bull run in utilities for the Web3 ID layer to provide blockchain identity services.

Klaytn, the Web3 GameFi and metaverse developer team behind Kaia, recently switched up the stock ticker symbol. On Oct. 31, it rebranded KLAY tokens to KAIA. The change coincided with a merger between the Klaytn and Finshcia blockchain currency economies.

$KLAY $KAIA ticker change incoming!

On Oct 31, the KLAY ticker will officially rebrand to KAIA across all major services.

Some exchanges may update at different times based on internal policies.

More details here https://t.co/3SXGk4AqkC

— Kaia (prev. Klaytn & Finschia) (@KaiaChain) October 17, 2024

Kaia Coin Surges Among Top 100 Cryptos

The recent merger between the Klaytn KLAY blockchain and the Finschia LINE platform has been a shot in the arm for the newly created KAIA tokens. The teams are hoping the integrations and new development will soon put this Web3 currency to work.

As part of the merger, Line, a Japanese messaging app with 196 million active users, plans to open 30 mini-DApps (decentralized applications) on its platform. They’re scheduled to go live on Line sometime before February 2025.

Mini Dapps on LINE Are Coming!

We’re thrilled to announce that Mini Dapps on LINE, exclusively powered by the Kaia blockchain will be launching soon! Here’s sneak peek at the timeline:
Early December 2024: Dapp Portal SDK Launch
End of January 2025: Mini Dapp on LINE… pic.twitter.com/ZWC4DTmH30

— Kaia (prev. Klaytn & Finschia) (@KaiaChain) November 27, 2024

Part of Kaia’s price run up the charts the last 30 days is the overall tide of the market turning bullish.

With Bitcoin’s price up 45% over the same time period, most of the crypto altcoin market is also trading hot. Many top coins by market cap are periodically melting up the way, but Kaia coin dominated the start of December, with a surge to a new all-time high at $0.4

Big Support for ALGO Web3 ID Layer

Meanwhile, Kaia is a popular trade in the current 30-day window because it’s one of the biggest players in the GameFi and MetaVerse ID layer for Web3. At the same time, cryptocurrency exchanges have markedly highlighted this segment of the blockchain.

In addition to Kaia, Algorand (ALGO) prices were ahead by an astounding 86% on the 7-day window and 400% on the 1-month range. The foundation behind ALGO recently released a new decentralized identifier solution (DID).

Markets are pumped about that and the overall prospect of transparently anonymous Internet users being able to stash their important data in the security and reliability of the blockchain and then retrieve it quickly and affordably when they’re ready to use it.