Here’s why the Kaia price has gone parabolic

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Kaia rose by 18%, hitting a high of $0.20 and bringing its market capitalization to over $1.2 billion. Its 24-hour volume jumped 40% to $136 million, while its futures open interest climbed to a record high of $63 million.

Kaia has been in the spotlight after integrating Tether usdt-0.03%Tether on its blockchain. The developers also pledged to support a South Korean won stablecoin on the chain.

The rally accelerated on June 20 after Kaia unveiled phase 2 of the $100,000 Kaia and Kaito Yapper Rewards. Yapper Rewards is part of the network’s growth strategy, in which developers encourage users to post about it on social media.Kaia rewards users who post quality content that generates meaningful interactions such as likes, replies, and shares from reputable accounts. Unlike in the first phase, the second phase will reward even yappers not in the top 100.