Klaytn (KLAY) is one of the cryptocurrencies that draws attention with its rise these days, when the horizontal trend in the crypto money market continues. So why is KLAY rising?
KLAY has gained about 21 percent in the last 24 hours, according to data from CoinGecko. With this rise, KLAY took the first place in the list of the highest risers. So why is KLAY rising? What is the reason for the rise in KLAY? Let’s take a look at this article.
Why is Klaytn (KLAY) Rising?
Launched in June 2019, Klaytn is an open Blockchain platform that provides accessible user experience and development to unleash the true value of Blockchain technology. The platform aims to efficiently blend the features of both open Blockchain (such as decentralized data control, distributed governance) and confidential Blockchain (latency, high scalability) networks.
KLAY’s daily chartWhen we look at the chart of KLAY, KLAY continues to move in the 0.18 price zone as of the writing. As the next resistance, we can point to the $0.21 region where the price has pinned.
On the rise of KLAY, we can show that the team will begin KLAY buybacks with the release of their Q3 reports. The company stated that the KLAYs received with the buybacks will be burned. In addition, a reduction per KLAY team block rewards has been suggested. With this proposal, it is thought to be reduced from 9.6 KLAY to 6.4 per block.
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