VeChain (VET) and Tezos (XTZ) arrived when high-profile ICOs went on to build new communities around their assets. Both projects promised various forms of staking and node operation, which was the main source of revenues in their ecosystems. The arrival of Kelexo (KLXO) may shift the balance of funds as investors move into the new Web3 peer-to-peer lending hub.
VeChain Aimed to Build the Internet of Things
VeChain has a long history in the making and a complex double-token system to pay for transactions. The goal was to create a blockchain capable of securing real-world items with a permanent digital record.
Like most other tokens that went through multiple market cycles, VET has outperformed or lost some of its value. As of April 2024, VET trades at $0.042. That’s still a 300% gain from the bear market lows.
With a daily volume of under $80M, VeChain remains a niche asset that may offer short-term breakouts. The hype around node staking and network support has also diminished. The VET crypto price may still rally along with other assets. There are bigger stars on the horizon, and investors seem impatient. Only the most dedicated holders and older node operators will remain for the long haul.
Tezos Struggles to Regain Even a Top 50 Position
Tezos was another high-profile ICO, raising as much as $400M in its token sale. The Tezos Foundation also helped to boost the platform with a high social media profile. The main activity for the first few months was “token baking.” It is necessary to own and hold the XTZ token in a wallet.
Before that, the Tezos community also had to spend long months holding a form of preliminary tokens. They were then swapped for the real asset.
In 2024, XTZ is ranked 82 based on market capitalization. It has grown by 100% from its 2023 lows and trades around $1.62. Trading for Tezos is limited to $34M in daily volumes. That shows the project is one of the underperformers in the current bull market.
Kelexo Taps Into Demand for Productive Web3 Economies
Kelexo is a new project currently in the early presale stages. It aims to create a productive economy based on mutually beneficial lending. This platform has already set up incentives to keep users engaged and build a future with real economic activity.
Unlike other high-profile ICOs, Kelexo is serious about its bids to turn into a blue-chip project. It has a limited number of tokens, capped at just 440M. That will encourage holding, and the platform will share the fees from peer-to-peer loans.
New Web3 technology means anyone with a wallet will have an immutable identity within the Kelexo ecosystem. It will be the basis for the simplified, two-minute loan process. Wallet holders will also be able to access debit cards for crypto spending and challenges and milestones for additional rewards.
The current stage 2 presale is now available at a discounted price of only $0.05 on the Kelexo (KLXO) homepage.
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