Klaytn token becomes the most unprofitable cryptocurrency of the week

Over the past week, the Klaytn digital token (KLAY) has fallen in price by 20%. This is the worst performance among all the cryptocurrencies in the top 100 by market capitalization. The virtual coin has dropped to 96th place and risks leaving the list of top cryptocurrencies.

The KLAY rate dropped to $ 0.19. Over the past 24 hours, the trading volume of the digital asset amounted to only $ 12.17 million. The market capitalization of the virtual currency is $ 664.7 million. In total, there are 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 to create and deploy decentralized applications (DApps) and smart contracts.

Klaytn aims to provide a simple and convenient toolkit for developers 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 classical mining, PoC is based on the contribution of network participants who invest resources and efforts in the development and maintenance of the blockchain.

The KLAY cryptocurrency is used as a means of exchange and payment for transactions and services on the Klaytn network. The digital token is also needed to encourage participation and voting on important protocol decisions.

It should be added that on Monday, January 15, according to the analytical tracker CoinMarketCap, the cryptocurrency market capitalization lost 3% and amounted to $ 1.77 trillion. Daily transactions with digital assets fell by 27% to $ 91.2 billion. The dominance of bitcoin BTC $114,758.00 Mezo Wrapped BTC 0.19% Market capitalization $40.57 million VOL. 24 hours $1.69 billion in the market reached 50.5%, while ethereum BTC $114,758.00 Mezo Wrapped BTC 0.19% Market capitalization $40.57 million VOL. 24 hours $1.69 billion took a share of 18.2%. The Fear and Greed Index has now risen to 73 points. It is worth noting that in the morning it was recorded at 59.