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If you don’t follow all of the top-performing cryptocurrencies in the top 100, you may not have noticed the meteoric rise of Klatyns. Klaytn is the native token of its own blockchain built by Kakao, the company behind South Korea’s most popular messaging app, KakaoTalk. KakaoTalk is used by over 90% of South Koreans. The company also has an incredibly successful taxi call app and online banking.
While other mega-companies like Facebook have attempted to launch cryptocurrency, they have faced strong resistance from regulators. Kakao was successful in launching Klaytn using subsidiaries in foreign countries.
What is Klaytn?
Klaytn is an open source project that its CEO described as similar to the Facebooks Libra network, but more advanced. Klaytn became available in June of last year on the Klip wallet integrated with the KakaoTalk app. The main goal of the Klip Wallet is to help businesses reward their users with fungible or non-fungible (NFT) tokens when they interact with sponsored content or perform microtransactions.
Klaytn coins can be staked on its KLAYstation platform using the Kaikas web wallet browser extension for constant low interest. Klaytn is run by a board of 30 companies with a rotating chairman who has more to say than the other members. They also retain the power to shut down the blockchain in an emergency.
Overall, Klaytn is a centralized copy of Ethereum with a few major tweaks and modifications.
Klaytn [KLAY] is up 21% in 24 hours
Klaytn hit a local high today at around $ 1.28 before dropping to $ 1.08. Just two days ago, the coin fell to $ 0.73, dropping to $ 1.08, or nearly 50% in 48 hours. This is a big move, however, Klaytn is still in a big slump from its all-time high of $ 4.38. It wiped out 75% of its max, which sounds terrible, but many other altcoins have experienced similar crashes over the past 2 months. It’s hard to say if Klaytn will continue to rise, but it was released to the world when it was listed today on the market’s largest cryptocurrency exchange, Binance.
The story continues
Why is KLAY moving?
Earlier today, Klaytn was listed on Binance and the project also partnered with Binance’s launch pad. Binance launchpool is the exchange launch platform that helps transformative blockchains like Klaytn gain global access. The launch pool allows users to wager Binance Coin (BNB) and BUSD (a USD-indexed stablecoin) to earn Klaytn. This will likely help the business grow further and could have a long term impact on its success.
Where to buy Klaytn
Klaytn can be bought on Binance Exchange and a few other exchanges like Bittrex. It is one of the largest cryptocurrencies by market cap to be traded on so few exchanges. You can also wager Binance Coins or BUSDs on the Binance Launch Pool to start earning Klay! Binance Exchange is an extremely useful platform that most cryptocurrency investors should sign up for due to its huge selection and high volume trading pairs.
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