KAVA price turns bullish as co-chains ETH and Cosmos launch and excitement is rising steadily. So, let’s read more in today’s altcoin news.

The protocols in the Kosmos ecosystem saw tremendous growth in 2022 due to the focus on blockchain interoperability and compatibility with the ETH network. One protocol that has gained momentum since March is Kava, a project that has developed a co-chain architecture for the Cosmos and ETH networks. TradingView data shows that KAVA price is turning bullish, climbing 72.3% after hitting a new low of $2.98 to hit a daily high of $5.04.

Among the three reasons behind AVA’s price increase is the beta launch of the ETH co-chain of a $750 million developer program, with a series of partnerships and protocol launches that expanded the size of the kava ecosystem. One of the biggest developments to emerge from the kava ecosystem was the completion of the alpha phase of the ETH co-chain. This co-chain enables support for Etheruem Virtual Machine Smart Contracts, while the Cosmos co-chain enables support for the Tendermint Consensus Engine as well as the Inter Blockchain Communication Protocol. The translator module connects to these co-chains for seamless interoperability between the networks.

Another reason for KAVA’s growing strength was the launch of Kava rise, or a $750 million incentive program designed to bring developers of DEFI, Gaming and NFTs into the Kava community. Kava Rise is a mechanism that distributes 62.5% of block rewards to developers building in the Kava Ethereum and Cosmos co-chains to become a builder-owner network. The remaining 37% of the block rewards are distributed to the stakers.

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KAVAUSDT 1-day chart. Source TradingView

The incentive program is expected to go live with the last 10 upgrades, including the launch of the co-chains Cosmos and ETH on the Kava mainnet, and the third factor driving demand for KAVA was the addition of the new partnership for the network. The latest protocols to be introduced on the co-chain architecture include OpenSea and DexPad. Other recent launches on the Kava include the multichain DEFI lending protocol ForTube, the Ruby protocol that brings the algorithmic stablecoin to the Kave Ethereum Virtual Machine, and the ETH co-chain integration of the Ren protocol.

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