Details about Wrapped Kava cryptocurrency
€1,809,000
1
0.02
https://www.kava.io/
@kava_platform
Wrapped Kava price charts
WKAVA exchanges
Wrapped Kava, the crypto
Wrapped Kava (WKAVA) is a cryptocurrency token created on the Kava blockchain that is designed to be used on other blockchain networks. Specifically, WKAVA is used to represent KAVA cryptocurrency on Ethereum so that it can be traded and used in decentralized finance (DeFi) applications.
The point
The main point of Wrapped Kava (WKAVA) is to enable KAVA holders to participate in the rapidly growing DeFi ecosystem on the Ethereum blockchain without needing to sell their KAVA tokens. Since KAVA is a separate blockchain from Ethereum, it cannot be natively used in Ethereum-based DeFi apps. By wrapping KAVA in a token form (WKAVA) that can be used on Ethereum, KAVA holders can access the benefits of DeFi while still retaining ownership of their KAVA tokens.
The problem
The problem that Wrapped Kava (WKAVA) tries to solve is the fragmentation of the cryptocurrency space. With thousands of different cryptocurrencies spread across various blockchains, it can be difficult for users to access all the benefits of different networks without needing to constantly move their funds around. By creating a tokenized representation of KAVA that can be used on Ethereum, WKAVA provides a bridge between two separate blockchains, enabling KAVA holders to participate in the DeFi ecosystem without losing the value of their KAVA tokens.
Compare WKAVA and BTC performance
| Timeframe | WKAVA | BTC |
|---|---|---|
| 1h change | -0.453836 % | 0.2369 % |
| 24h change | 3.98 % | 4.23053 % |
| 7 day change | -27.41 % | -8.99824 % |
| 14 day change | -26.61 % | -5.57204 % |
| 30 day change | -17.48 % | 1.13445 % |
| 200 day change | 4.31 % | 132.592 % |
| Year change | -25.31 % | 116.788 % |