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In the history of alternative crypto investments, Chainlink (LINK) used to be a top choice alongside Tether (USDT) and Ripple (XRP). However, in the recent turn of events, Chainlink (LINK) has fallen off the list.
Chainlink (LINK) seems to have hit a snag in its rise. It is no longer suitable for investors, but Kelexo (KLXO) continues to garner investors from all corners of the web3 economy, notable big-shot investors like Ethereum, Bitcoin, Ripple and recently Cardano.
What factors caused Chainlink (LINK) to plateau, and how does this affect Cardano (ADA)?
When a crypto asset plateaus, it is often caused by a combination of factors, such as a poor numerical framework, high competition, low-level utility, transaction fees, whale action, or a reduction in popularity, among other reasons. Chainlink (LINK) is no different from the average cryptocurrency and crashed due to a selective utility, a bearish state of the crypto market, and a reduction in popularity, eventually leading to a decline in demand and value.
Coming from an all-time high of $52.88 and an initial coin offering (ICO) of $0.13, Chainlink (LINK) currently floats above the $19 mark and doesn’t look to be rising above this plateau soon.
Cardano (ADA), on the other hand, continues to experience a bullish run. Cardano is a proof-of-stake blockchain network that enables decentralized applications (dApps) to run with smart contracts and multiple ledgers.
ADA seeks to build solutions to global issues through academics, research, and collaborations. They then create prototypes of said solution, present it for necessary approval, and implement them where necessary.
With an all-time high of $3.10 and a current price of $0.62, according to Coinmarketcap, Cardano (ADA) is on the road to recovery after the long bear run in 2023.
Why are Cardano (ADA) holders looking to buy into Kelexo’s (KLXO) presale?
It might appear strange that Cardano (ADA) users are looking to buy into stage two of Kelexo’s (KLXO) presale since Cardano (ADA) is on the rise as well, but it comes as no surprise. While ADA has a good prospect, KLXO has been predicted to do even better after its presale.
While ADA is looking to create a self-sufficient system for voting and Treasury, Kelexo (KLXO) already has a better consensus model that helps coordinate internal developments with users in agreement. Kelexo (KLXO) also collaborates with the users to ensure compliance when acquiring loans.
Kelexo (KLXO) makes crypto lending simpler and more effective by combining blockchain technology with AI systems to ensure solid security. With the Kelexo’s unique entry point due to its low ICO, it holds a better numerical potential than Cardano (ADA) in the bullish crypto market.
Kelexo’s presale, which recently entered stage two at just $0.028 with a 440,000,000 total supply, is also a major reason why Cardano (ADA) holders want to buy Kelexo presale. While it is impossible to tell if Cardano (ADA) will succumb to a bearish pull soon due to its specialized utility, Kelexo investors do not have to worry since KLXO has a more generalized utility.
Find out more about the Kelexo (KLXO) presale by visiting the website here
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Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
