Is KAVA a good buy in June 2022?

KAVA/USD has advanced from $1.32 above $3 since 12th May, and the current price stands at $2.67. According to the latest news, Sushi will deploy on the Kava Network, and Scott Stuart, CEO of Kava Labs, said that a partnership with Sushi would create a new suite of DeFi products.

Sushi will deploy on the Kava Network

Kava is an extremely fast Layer-1 blockchain that offers Web3 developers a flexible deployment, seamless interoperability, and incredible on-chain incentives.

Kava combines the flexibility and speed of Ethereum smart contract development with the interoperability of the Cosmos into one single network. Because of this, Kava is highly-scalable and has a compatible execution environment that empowers Solidity developers and their dApps.

Kava supports the transaction needs of thousands of protocols and millions of users, and its unique co-chain architecture enables connections to all of the world’s most used blockchains.

This allows for the free flow of users, assets, and projects into the Kava Ecosystem, and according to the team behind this project, a network is only as good as the projects that are built on it.

Kava stakers and validators govern the Kava Network, and they operate on a liquid democracy model and determine what changes should be made and how the unique on-chain developer incentives are distributed between the two chains.

As a truly decentralized organization, the Kava DAO also ensures that its standards are maintained in line with the expectations of the Kava community.

KAVA is the native cryptocurrency of the Kava Network, and despite the recent slump in the cryptocurrency market, KAVA is enjoying a relief rally.

The current rise in price is connected with the news that Sushi will deploy on the Kava Network. Scott Stuart, CEO of Kava Labs, said that a partnership with Sushi would create a new suite of DeFi products for efficient and fast yield farming. Scott Stuart, CEO of Kava Labs, added:

Through a partnership, we will distribute $14 million worth of SUSHI and KAVA as daily rewards for new users joining the DeFi platform. Moreover, Kava is launching a $750 million incentive program to enable Sushi developers to build new applications on the network.

The important resistance stands at $3.5

Data source: tradingview.com

KAVA currently trades around the $2.70 level, and it would be a strong buy signal if the price jumps above the resistance that stands at $3.50. The next price target could be around $4 or even above; still, if the price falls below $2.5 support, we have the open way to $2.

Summary

Kava is an extremely fast Layer-1 blockchain with unique co-chain architecture that enables connections to all of the world’s most used blockchains. KAVA currently trades around the $2.70 level, and if the price jumps above the $3.50 resistance, it could reach $4 very soon.

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