KLAY Price Analysis May 2022

KLAY is a coin of the platform Klaytn. Its current price is around $0.409 by writing, with a low of $0.3482, and has a market cap of 1.1 billion dollars.

What is Klaytn?

Klaytn is a public blockchain project with ongoing expansion. They have a lot of market share in South Korea and are increasing their presence worldwide. The Klaytn Growth Fund supports the business. Klaytn will be releasing an update for their protocol that delivers much-needed improvements to their network’s performance, decentralization, scalability and interoperability.

What is KLAY?

KLAY is the coin of the Klaytn platform, which is around $0.409 by the time of writing, with a low of $0.3482. It reached a high of $3.31 and its current ranking is #46 according to CoinMarketCap, with a market cap of 1.1 billion dollars. KLAY is the currency of choice for all transactions on Klaytn platform as well as any other applications that use the blockchain.

KLAY Coin Market Analysis 

KLAY has a max supply of infinite coins worth around $0.409 with a market volume of 83 million dollars, whereas the market capitalization is 1.1 billion dollars at writing. 

KLAY Price Prediction

On the 1D timeframe, the price action of $KLAY/USDT has formed a head and shoulder chart pattern. Price is consolidating inside the right shoulder of the chart pattern. We have to wait for a breakout or breakdown to confirm its next direction.

Klay May 2022 Charts
KLAY May 2022 Charts

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Closing Thoughts

Discipline and Patience are the most important components of a successful trade. According to the above analysis, the coins we just discussed about might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.

Disclaimer: Our analysis is for educational purposes.

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Pratyaksh

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