Klaytn (KLAY) might be a relatively new name on the cryptocurrency scene, however, it surely isn’t hard to miss it on the list of top trading cryptos by market cap. KLAY ranks as the 13th largest cryptocurrency in the market with over 40% of gains during the week. Klaytn is a global public blockchain project developed by Ground X, which is a subsidiary of the top South Korean internet company known as Kakao. Kakao is extremely popular in South Korea, and Klaytn seems to be sharing some of the popularity. What is Klaytn and why is KLAY skyrocketing?
What is Klaytn (KLAY) and What is Pulling Its Price?
Klaytn is a global public blockchain project that provides a user-friendly environment and blockchain-based architecture for developers and users. Klaytn can be used to build real-world applications in large-scale development, that are perfect for users that are not particularly skilled with blockchain. One of the factors that might be pushing the price of KLAY with the recent price changes is the news of Klaytn joining OpenSea, which is the largest market of user-owned collectibles, including in-game items, collectibles, digital art, and other assets. Klaytn supports the market of NFTs as well, which is in part why crypto has become so popular in recent months. Klaytn reached 10 billion dollars in market capitalization and managed to take the place of the 13th largest crypto by capitalization, hinting that KLAY might have a bright future ahead.
Klaytn (KLAY) Price Analysis for March 2021
- For the week of March 25th to March 31st, the weekly chart is showing over 40% for KLAY
- The current price is set at 4$ after -4% of declines for the day
- The monthly chart is showing close to 200% of returns, despite a series of dips in March 2021
- The yearly chart is showing 3533% of returns for KLAY
Image credits: Cover photo taken from Medium