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Cryptocurrency Klaytn Reaches $10 Billion Market Cap

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.

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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.

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.

Klaytn NFTs

According to an official announcement by the company, the OpenSea platform will support Klaytn NFTs. The non-fungible token (NFT) market is booming amid growing interest from retail and institutional investors. The company’s latest integration with OpenSea will allow Klaytn-powered NFTs, ranging from game items and characters to digital arts, to be supported, with peer-to-peer trading to take place by the end of June.

“We believe that supporting the Klaytn blockchain and its growing NFT community empowers the blockchain space that can invite even mainstream audiences to experience Klaytn’s unique digital items and goods,” Devin Finzer, CEO at OpenSea, mentioned in the official press release.

The cryptocurrency market has grown significantly since the start of 2021. The overall market cap of digital assets jumped by more than $1 trillion in the last 12 weeks. KLAY remained one of the best performing cryptocurrency assets in the last 7 days as the digital currency gained nearly 32% in a single week.

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