KAVA fell 44% in 24 hours to a new record low near $0.038 after a large wallet transfer to BNB Chain. Binance, Upbit and Coinone issued warnings, and the cause of the drop remains unconfirmed.
KAVA plunged 44% in 24 hours and hit an all-time low near $0.038. The drop followed a reported $3.2 million token transfer to BNB Chain, which raised questions about a possible security incident or a large-holder exit.
A wallet transfer triggers the sell-off
After trading in a relatively narrow range, the token sold off sharply on November 14. Selling activity accelerated across the market as the price moved toward its lowest recorded level.
Approximately 48.3 million KAVA, worth nearly $3.2 million, was reportedly transferred to BNB Chain and swapped for BNB through a decentralized exchange. The same wallet reportedly still holds around 47.6 million KAVA.
Investors are asking whether the move reflects a large-holder exit, a security issue or another operational problem. The project's official explanation will matter for KAVA holders.
Exchanges issue warnings
The crash also drew attention from major exchanges. Upbit, Binance and Coinone issued caution warnings related to KAVA, and Binance also restricted deposits and withdrawals.
However, the warnings are not confirmation of a hack or security breach. Restrictions on deposits and withdrawals may complicate trading and transfers between platforms.
Key levels after the drop
KAVA is hovering near $0.038, the immediate level to monitor. A recovery above $0.040 could give the first sign that selling pressure is easing, while the $0.045–$0.050 region is an important resistance area.
Still, the technical structure remains strongly bearish. KAVA has fallen below its previous trading range and moving averages, and further losses remain possible if buyers fail to defend the current price region.
A sustained recovery will require stronger buying volume and clarity about the reported wallet activity.
Source: Coinpedia Fintech News
Trading involves risk.
Risk Disclaimer
