KLAY cryptocurrency fell by 20% in a week

According to data as of January 14, 2024, the Klaytn digital token (KLAY) has become cheaper by 20% over the past 7 days. This is the worst indicator among all the top 100 by market capitalization. It is worth noting that the virtual currency has dropped to 96th place and may leave the list of top cryptocurrencies.

The KLAY rate dropped to $0.19. Over the past 24 hours, trading volumes with the digital asset amounted to only $12.17 million. Market capitalization of virtual currency is $664.7 million. There are a total of 3.481 billion KLAY in circulation.

Klaytn is a public blockchain platform developed by Ground X, a subsidiary of the South Korean corporation Kakao.. The platform is designed for the creation and deployment of decentralized applications (DApps) and smart contracts.

Klaytn strives to provide a simple and user-friendly toolkit for developers. This allows you to create and deploy products with high performance and scalability. The platform offers a set of features, including open APIs, SDKs and extensive documentation.

One of the main features of Klaytn is the Proof of Contribution (PoC) consensus protocol.. Instead of classic mining, PoC is based on the contribution of network participants who contribute resources and effort to the development and maintenance of the blockchain.

KLAY cryptocurrency is used as a medium of exchange and payment for transactions and services on the Klaytn network. A digital token is also needed to encourage participation and voting on important protocol decisions. The project management is actively collaborating with partners from various industries, including banks, financial institutions, telecommunications companies and other blockchain platforms. This allows you to create a variety of applications and expand the ecosystem.

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