- Multi-chain protocol, Klaytn set themselves the ambitious goal of triggering mass adoption of the blockchain experience.
- Klaytn has built an ecosystem that almost encompasses all aspects of cryptocurrencies, including NFTs.
- Klaytn continues on the path to its goal with the integration of Fleta, a fast, scalable blockchain.
- With a 1,680% return on investment since January 2020, KLAY is now ranked as the 42nd largest crypto, with a market cap of $4.11 billion.
Klaytn is a service-centric blockchain platform that seeks to trigger the mass adoption of the blockchain experience for millions of users worldwide. Combining both public and private blockchains, Klaytn can be classified as a hybrid blockchain.
To reach its ambitious goal of boosting adoption rates, Klaytn’s focus lies in empowering businesses and entrepreneurs to offer Blockchain Applications (BApps) with responsiveness, robustness, and usability.
Since the launch of the Klaytn mainnet in June 2019, the project has worked with numerous projects in different sectors to provide the best blockchain experience to their users. So, how has Klaytn performed recently?
As a project that aims to foster blockchain adoption, Klaytn has done a good job of keeping up with the trends in the industry. From evolving into a cross-chain project, to launching other projects and supporting NFTs, Klaytn is building an ecosystem that spreads across virtually all aspects of cryptocurrencies.
One area in which Klaytn has experienced recent successes is its NFT marketplace. For example, only two days after the release of KlayDogesFriend, an NFT project that is officially registered in Klaytn Scope, it already ranked 3rd in the world’s largest NFT market, OpenSea.
DogeSoundClub, a social gathering of NFT collectors, operated using NFT-based governance, is currently ranked as the biggest NFT project on Klaytn.
Klaytn recently announced a partnership with Covalent, the leading provider of indexing solutions for blockchains. The integration increases the availability of data on Klaytn and simplifies the experience for developers.
The data set of Covalent currently supports 25 billion transactions, 30K+ price feeds, and 200+ smart contracts for querying. As a result, developers on Klaytn now have access to reliable, high-quality data.
XSwap, a cross-chain swap aggregator platform, has also announced integration for Klyatn (KLAY). Klaytn now joins Polygon, Tron, the Binance Smart Chain, HashCoin, and Ethereum VM Chains on XSwap.
On its journey towards boosting blockchain adoption, Klaytn has become a multi-chain network, allowing for the launch of both private and public blockchains that are easy to configure.
Klaytn announced that Fleta, a project that offers high speed and unlimited scalability, including the Gateway System, will be integrated in the Klaytn Mainnet. The integration is expected to expand both ecosystems. While the integration date is yet to be revealed, KLAYswap users will be able to utilize Fleta Connect, per the announcement.
Bouncing from the $1 support on October 1st, Klaytn (KLAY) enjoyed a 150% price rally to peak at $2.51 on October 9th. However, a sharp decline followed before KLAY consolidated.
The 30 day price chart for Klaytn (KLAY). Source: Tradingview
KLAY now trades at $1.8937, as of the time of writing, maintaining a gain of 0.24% over the last 24 hours. With a 1,680% return on investment since January 2020, KLAY is now ranked as the 42nd largest crypto, with a market cap of $4.11 billion.
On The Flipside
- While Bitcoin and other leading cryptos have been pushing closer to their all-time highs recorded earlier in the year, KLAY is yet to recover.
- KLAY’s current price of $1.64 is down by over 60% from its ATH of $4.38 on April 2nd.
Although Klaytn is a growing project, it has an active community of users, developers, and investors. Following its Binance Launchpool, the community now farms KLAY tokens by staking their BNB and BUSD.
Klaytn, like most crypto projects, retains Twitter as its major centre of communication. However, there are also global Reddit, Github, and Facebook channels. With Klaytn’s NFT marketplace expanding, @JohnCho__ wrote on Twitter;
It really is exciting to see #Klaytn #NFT projects evolve and I for one am looking forward to seeing how @dogesoundclub's open approach to their new $MIX protocol and eco-system will help facilitate organic growth for other NFT projects on Klaytn. https://t.co/SAuH7cIsKv— John Cho (@JohnCho__) October 4, 2021
As more NFT marketplaces launch on Klaytn, @eunseokc01 wrote;
Members of the Klaytn community are also very bullish about the project. @jeffquinto5 shared his following belief about the KLAY tokens;
Why You Should Care?
Klaytn is a fast-growing project facilitated by its cross-chain compatibility and the drive to build an ecosystem that encompasses every aspect of cryptocurrencies. This has endeared developers to the network and, if all goes well, we could see more crypto projects emerge from the Klaytn ecosystem.