Klaytn (KLAY) Price Skyrockets

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KLAY is a token of the platform Klaytn. Its current price is around $0.3017 at the time of writing, with a low of $0.1232, and it has a market cap of 931 million dollars.

What is KLAY Crypto?

KLAY is around $0.3017 by the time of writing, with a low of $0.1232. It reached a high of $1.86, and its current ranking is #54, according to CoinMarketCap, with a market cap of 931 million dollars. ‘KLAY’ is the native token on the Klaytn blockchain. You can use it for all transactions carried out and in all other blockchain applications found on this network.

KLAY Coin Market Analysis 

KLAY has a total supply of 10,782,297,981 coins worth around $0.3017 with a market volume of 347 million dollars, whereas the market capitalization is 931 million dollars at writing. In addition, Klaytn’s bullish sentiment score has increased over the past five days, which means more investors are buying Klaytn. 

The two significant events from Klaytn this week have helped push up the value of their KLAY coin by around 20% in the last 24H to around 110% over the past week. The first news affecting Klaytn was the 33% decrease in block rewards proposed by its governance committee. Additionally, KLAY has been made available on Phemex.

KLAY Price Prediction

KLAY had a 1-year return at risk of being negative and should not be considered a long-term investment option. However, in the 2H timeframe, the price action of $KLAY/USDT is consolidating inside the ascending channel, and the price is rising from the support trendline of the channel. 

Currently, the price has broken the previous high. Further, if it breaks its resistance trendline, it can go upwards. First, however, we must wait for a successful breakout or breakdown to confirm its next direction.

On-demand analysis on $KLAY or any other coin can join our Telegram channel anytime.

Klay Price Chart October 2022
KLAY Price Chart October 2022

Closing Thoughts

Discipline and Patience are the most critical components of a successful trade. According to the above analysis, the coins we discussed 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 Research before investing.

Disclaimer: Our analysis is for educational purposes.

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