Kava rises 40% while preparing Mainnet upgrade

The change improves transaction speed and aims to strengthen the security of the platform, said Kava.

Layer-1 blockchain Kava's native token, KAVA, is up nearly 40% over the past week as the network prepares for a major mainnet upgrade. The "Kava 13" upgrade will speed up transactions on the network and provide greater security when it goes live on May 17. The network will also launch a new bridge that facilitates the transfer of assets from Cosmos to protocols over Kava.

KAVA previously rose about 10% last Wednesday, after token holders suggested discontinuing several of the project's grants and reward programs by the end of the year. The token's market capitalization is $513 million, according to CoinGecko's data.

First buyers take profits

Despite KAVA's gains over the past week, the price of the token has begun to fall as early buyers take their profits. The tokens are trading at 98 cents at the time of publication.