Klaytn Price Up by 8.71% – Time to Buy KLAY Coin?
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The crypto market is being led by promising blockchain projects active within the decentralized finance sector after the holiday season. A glimpse of it can be seen in the performance of Klaytn, a public blockchain platform today.
Klaytn is a unique platform that combines the best of both worlds (private and public blockchains) with ease using its hybrid design. On a global scale, klaytn is working on spreading decentralization via blockchain usage.
Today, several real-time crypto data providers noted a significant jump in Klaytn’s KLAY prices. CoinMarketCap is noting a 7.6% uptrend in the past 24 hours price of KLAY.
KLAY Jumps on the News of OpenSea Contract Migration and Royalties Support
The KLAY/USD pair is moving forward at an encouraging pace for the past 24 hours now and chances are if the current rally holds for another day, then KLAY could keep its place under the top crypto performers at the moment.
As we notice the updated market capitalization, the total value has risen to approximately 8.46%, as Klaytn’s market dominance shifts to 0.17%. Although the change in individual price is not that significant, the graphical representation of KLA/USD shows a trajectory that has attracted several retail investors.
The positive changes in KLAY is being associated with the breaking news of the team’s upcoming OpenSea Contract Migration and Royalties Support that first showed on Klaytn’s medium.
The migration is about to take place tomorrow i.e. 6th January and it would be a part of Klaytn and OpenSea, the world’s largest NFT marketplace, integration maintenance. During this migration process, Klaytn’s team would be deploying 0x exchange contracts to facilitate these interactions.
Migration to OpenSea is a huge crowd pleaser for any budding blockchain project at the moment and Klaytn has been in the market since 2019 when non-fungible tokens and DeFi coins became a serious investment vehicle.
Klaytn presents the freedom of deploying one’s own chain or joining other chains without requiring technical expertise. This ecosystem that supports a wide range of decentralized apps also has the attention of institutional investors like Wemade Tree, Humanspace, and Piction Network.
KLAY Technical and Fundamental Analysis
KLAY is staying within the strong buy zone courtesy of 9 distinct technical indicators including moving averages as well as strong oscillators. Whether you take SMA (1.41), RSI (57.30), or MACD (0.30) into account, KLAY seems like a go-to investment for now.
According to real-time statistics, KLAY is currently exchanging hands at $1.51 with a 7.25% uptrend which indicates that the price might go further up in the upcoming days if market conditions remain unchanged.
Klaytn is appropriately ranked as the 45th largest cryptocurrency based on its market capitalization. The total circulating supply of KLAY tokens remains above 10.7 billion while the total KLAY tokens in circulation are just under 2.5 billion. So there is huge potential within Klaytn and where the project might reach in future especially once the OpenSea migration comes through.
A few weeks ago, Klaytn made headlines for releasing its latest version 1.7.3 just before the year-end. This version included a protocol upgrade for Baobob Network which is expected to start at block #80295291. Klaytn team is also working on a potential mainnet dubbed as Cypress mainnet which would be subjected to the same protocol upgrade in the future.
Klaytn has proven to be a perfect market-stirring service-centric public blockchain platform that investors might be interested in for a long time.
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