Cryptocurrency Klaytn (KLAY) has jumped above $4 for the first time in its history after the digital asset gained nearly 20% within the last 24 hours. The total market cap of Klaytn touched $10 billion on 29 March.
According to the latest data published by Coinmarketcap, Klaytn (KLAY) is now the 13th most valuable cryptocurrency in the world. The total market cap of Klaytn is now more than Bitcoin Cash, Stellar, Filecoin and Dogecoin.
Klaytn is a blockchain project of Korea’s internet giant, Kakao. According to the official description of the project, Klaytn is an enterprise-grade, service-centric platform that brings a user-friendly blockchain experience to millions by combining the best features of both public blockchains (decentralized data & control, distributed governance) and private blockchains (low latency, high scalability) via an efficient ‘hybrid’ design. KLAY is the official cryptocurrency of the project which was launched in 2020.
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KLAY is up by more than 700% since the start of 2021. As of writing, the cryptocurrency is trading near $4.06 with a total market cap of $9.94 billion.