Kava Price Prediction 2024: How Cosmos-linked KAVA May Perform

Key Takeaways

• The Kava blockchain launched an upgrade last year that would help it link with the Cosmos protocol.
• This followed the news that Kava would be the gateway for the Tether stablecoin onto Cosmos.
• One KAVA price prediction says it can reach $2.90 next year.

The Kava blockchain’s most recent upgrade , Kava 14, saw it improve its link with the Cosmos (ATOM) protocol. This, in turn, followed the announcement  that stablecoin giant Tether (USDT) would use Kava to link with Cosmos. 

Since Tether is the largest stablecoin on the market, with a market cap of around $80 billion, the announcement means Kava could end up being the thing that links USDT to the world of decentralized finance (DeFi).

The news had potential implications for the KAVA coin, too, with it now coming onto the radar of crypto investors, even if its price has slumped in the months since the Tether news. 

Kava did not immediately respond to a request for comment.

But what is Kava (KAVA)? How does Kava work? Let’s see what we can find out, and also take a look at some of the Kava Price Predictions that were being made as of February 23, 2024.

Kava Coin Price Prediction 

First, let’s take a look at some of the KAVA price predictions that were being made on February 23, 2024. Keep in mind that price forecasts, especially when they are for a commodity as potentially volatile as cryptocurrency, are very often wrong. Also, you will have to remember that many long-term crypto price predictions are made using an algorithm, which means that they can change at a moment’s notice.

First, CoinCodex  saw the coin dropping to $0.763808 by February 28 and recovering to $0.639427 by March 24. The site’s technical analysis was bearish, with 15 indicators sending bullish signals and 16 making discouraging ones. 

Kava Price Prediction for 2024

DigitalCoinPrice  was very upbeat in its KAVA price forecast, saying it could get to $1.67 this year. PricePrediction.net  was more cautious, saying it would trade at $1.31 in 2024. Bitnation  expects KAVA to reach $2.13 in December this year.

Kava Price Prediction for 2025

PricePrediction.net said KAVA would reach $1.76 next year.  DigitalCoinPrice thought it would get to $1.97 in 2025 while Bitnation sees it at $2.90.

Kava Forecast for 2030

Moving on to a more long-term KAVA price prediction, PricePrediction became very bullish. The site said it could reach $12.06 in 2030. DigitalCoinPrice had it at $5.71 and Bitnation at $6.70 at the start of the next decade.

Google Gemini AI Price Prediction for Kava (as of February 23)

Google’s Gemini AI platform gave the following price prediction for Kava on February 23. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve. Additionally, artificial intelligent price predictions are predicated on past performances and are in no way entirely accurate.

Short Term (Next 3 months)

• Expected price: $0.95

• Factors to Consider:
  • Overall market sentiment: The price of KAVA is likely to be influenced by the overall sentiment of the cryptocurrency market. If the market continues to rise, KAVA could also benefit. However, if the market crashes, KAVA could also fall significantly.
  • Development and adoption of Kava: Kava is developing a number of new products and services, such as DeFi and NFT platforms. If these are successful, they could boost the demand for KAVA.
  • Regulatory environment: The regulatory environment for cryptocurrencies is constantly evolving. If regulations become more restrictive, it could dampen demand for KAVA.

Medium Term (Next 6 months)

• Expected price: $1.25

• Factors to Consider:
  • Overall performance of the cryptocurrency market: If the market continues to grow, KAVA could benefit. However, if the market crashes, KAVA could also fall significantly.
  • Adoption and use of the Kava platform: Increased usage of Kava’s lending and borrowing platform could boost demand for KAVA tokens.
  • Development of the Kava ecosystem: New features and partnerships within the Kava ecosystem could attract more users and investors, potentially impacting the price.
  • Regulatory environment: Any significant changes in cryptocurrency regulations could affect the price of KAVA.

Long Term (Next 5 years)

• Expected price: $3.35

• Factors to Consider:
  • Overall Cryptocurrency Market: If the market thrives, KAVA is likely to benefit. A market crash could significantly impact its price.
  • Kava Platform Adoption: Increased adoption and use of Kava’s DeFi and borrowing/lending services could boost KAVA demand.
  • Development of Kava Ecosystem: Successful development of new products and features within the Kava ecosystem could attract more users and investors.
  • Regulatory Environment: Evolving regulations could impact KAVA’s value positively or negatively.

KAVA Price History

Let’s now cast our eyes over the Kava price history . While past performance should never be taken as an indicator of future results, knowing what the token has done in the past can give us some very useful context if we want to either make or interpret a KAVA price prediction. 

When KAVA first came onto the open market in 2019, it was worth about $0.80. In 2020, it spiked briefly, rising above $4 in August before settling down.  

In early 2021, the market exploded, and KAVA flourished, peaking at over $7 in April. There was a slump over the summer but a return to form in September, when it reached an all-time high of $9.19 on September 9. After that, though, there was a fall off, closing the year at $3.94.

While the coin had performed well in 2021, things went badly in 2022. The coin initially looked like it was doing relatively well, breaking past $5 in the middle of January and at the end of April. A series of market crashes, triggered by such events as the collapses of the Terra (LUNA) blockchain and the FTX (FTT) crypto exchange damaged people’s faith in crypto. By the end of the year, KAVA was worth $0.5732, having lost about 85% of its value over the course of the year. 

Kava in 2023 and 2024

2023 started well, but has got worse. KAVA broke past the dollar in the middle of January, but things went downhill in June. The news that the United States Securities and Exchange Commission (SEC) was to sue the Binance and Coinbase exchanges shook the market and KAVA fell to a low of $0.7644 on June 15. The price picked back up following the Tether news and it reached $1.26 on June 25.

After this, though, the price fell down. While the Kava 14 news saw it reach $1.07 on 12 July, it resumed its downturn not long afterwards. It fell below the dollar, with the decline accelerated by August 17’s news that Elon Musk’s SpaceX had sold millions of dollars worth of Bitcoin (BTC). By September 11, 2023, KAVA was worth about $0.627.

It then ended 2023 at $0.8668, before embracing a rollercoaster movement that brought the price to $0.7594 on February 23, 2024.

At that time, there were about 1.08 billion KAVA in circulation, representing the total supply. This gave the coin a market cap of $821.5 million, making it the 94th largest crypto by that metric. 

Is Kava a Good Investment?

It is hard to say. The announcement of the system’s link with Tether gave it a short price boost, which has since fallen away. KAVA suffered worse than average losses in 2022, so it will be interesting to note whether the market has a space for another crypto lending platform. As always, though, you will have to do your own research before deciding whether or not to invest in KAVA.

Will Kava go up or down?

No one really knows right now. While the price forecasts are, broadly speaking, upbeat in the long-run, price predictions are renowned for being wrong. Remember, too, that prices can, and do, go down as well as up. 

Should I invest in Kava?

Before you decide whether or not to invest in KAVA, you will have to do your own research, not only on the coin, but on other, related, cryptos, such as Celsius (CEL). When it comes to it, though, you will have to make this decision for yourself. Just remember to never invest more money than you can afford to lose.

Kava (KAVA) Explained

Brian Kerr, Ruaridh O’Donnell, and Scott Stuart set up the Kava  blockchain in 2018. The plan was to create a system that allowed people to borrow and lend money on the blockchain.

If someone wants to either help fund a loan on Kava, or take one out, then they convert their crypto into Kava’s own USDX stablecoin, which is used to make the loan. 

There are a range of different cryptos based on the Kava network, but the main one is KAVA. This coin is a governance token, with holders able to vote on decisions affecting the future of the network as a whole.

Other cryptos on the system include USDX, SWP, which is used to govern the platform’s liquidity protocols, and HARD, which helps manage the lending platform itself.

How Kava Works

The Kava platform is a Proof-of-Stake blockchain, which means that people are chosen to verify transactions and add blocks to the blockchain-based on how much KAVA they hold. 

The system is, ultimately, based on the same sort of engine as Cosmos, the Tendermint protocol. 

KAVA holders can vote on changes to the platform. It also rewards people who run nodes, or computers, that help transfer data on the network.

People can buy, sell, and trade KAVA on exchanges.

Kava Attention Tracker

Here is a chart for the Kava Google search volume for the past 90 days. This represents how many times the term “Kava KAVA” has been Googled over the previous 90 days.

FAQs 

Disclaimer 

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

About the Author

Peter Henn

Peter Henn has been a journalist since 2005. In that time, he has written for a variety of publishers including the Mail on Sunday and the Daily Express. He has previously covered the world of cryptocurrency for Currency.com and Capital.com, and has also written for ECigIntelligence.com and CBD-Intel.com. A graduate of the University of Liverpool, he is based in the United Kingdom. His hobbies include music, horse racing and performance art.

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