Klaytn’s Latest Update: Will it Bring a Bullish Wave?
Despite Klaytn’s bearish performance, the release of Klaytn 1.11.0 is giving investors hope for a 30% uptick in its price. This hard fork upgrade changes the network’s backward compatibility and implements features similar to Ethereum’s Shanghai network.
Key Points:
- Klaytn’s price has experienced an 11.05% monthly decline.
- KLAY token has seen a marginal drop of 0.5% in the last 24 hours.
- Klaytn is a public blockchain focused on Web 3 and has started expanding internationally.
- The platform simplifies Metaverse building and offers various services such as stablecoin integration and NFT marketplace.
- Despite a peak at $4.1, Klaytn’s value has dropped to trade between $0.25 and $0.15 since the beginning of 2023.
Will Klaytn Experience an Uptick?
From a technical perspective, Klaytn’s RSI is closer to the oversold zone and its MACD is negative, indicating a bearish sentiment. The token’s performance has been stable but with low upward momentum and volatility. Therefore, it is unlikely to experience the significant uptick currently hoped for by some investors.
An Alternative: XRP20
XRP20 is an Ethereum-based token with community-centric tokenomics and simple earning mechanics. It aims to broaden the XRP army and appeal to retail investors. XRP20 offers a chance to participate in a possible bull run, with potential 30x gains for early investors.
Hot Take:
Klaytn’s latest update may not be enough to reverse its bearish trend, and investors should consider alternative assets like XRP20, which offers potential for significant gains.
By
By
By
By
By