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- 1 Klaytn TVL has been observing a strong bearish trend and is near $140.5 Million
- 2 KLAY price has been seeing a consolidated trend in price. It has seen a gain of 2% in the intraday session
Klaytn is a public blockchain which focuses on the metaverse, gamifi and creator economy. The blockchain was launched in 2019 by GroundX which is a subsidiary of the Kakao (A Korean Mobile Platform). Klaytn has emerged as a groundbreaking platform to increase the adoption of the dapps. Klaytn offers a hybrid structure combining the benefits of public and private blockchain. Klaytn governance council comprises numerous prominent companies and organizations of various industry. Klaytn offers developers a comprehensive suite of tools and resources to build and deploy Dapps efficiently .
Klaytn TVL has been observing a decline from the past few months. The protocol has observed a decline in TVL from the high of $1.25 Billion to a low of $140.15 Million.
The fees collected on the Klaytn has seen a decline and is near $1.89k as per the defilama. The protocol has a throughput of 13tx/s as per their website. Meanwhile the monthly active addresses of the Klaytn is around 838,255.
Klaytn has a market cap of $475 Million and is ranked 71st in the CMC. The volume of the asset price has seen a gain of 10% in the past 24 hours. The V/M ratio of the asset price suggests a consolidated trend in price.
Will Klaytn Price See a Rebound Soon?
Klaytn price has been observing a weak downside trend in the weekly technical chart. On the daily chart KLAY is trading near the value of $0.153 with a small gain in the intraday session. The digital asset is currently observing a consolidated momentum on the daily chart. The upside trend of KLAY price can see a halt near the value of $0.2. As per the Fib retracement 0.786fib can act as a resistance for the price. Meanwhile, the support of the asset price can be seen near $0.1. KLAY is trading below the 50 and 100 Daily Moving Average. If the asset price jumps above the DMA then a strong upside trend can be seen.
The RSI of KLAY price is near 32 suggesting its presence in the oversold zone. There is no significant slope in RSI hinting towards a consolidated trend.
Summary
Klaytn has been observing a decline in its TVL from the past few months. KLAY price has been observing a consolidated trend and can see a new high in the future.
Technical Levels
Major Support:$0.1
Major Resistance:$0.2
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
