The broader crypto market has been hit by another major correction as Bitcoin (BTC) tanked all the way to $60,000 in the past 48 hours of trading. Moreover, when Bitcoin dumps, so do altcoins, including those with tens of billions in market capitalization. That includes Cardano (ADA) and Avalanche (AVAX), which were among the biggest losers.
Not surprisingly, a good number of ADA and AVAX holders are preparing to diversify their investments to accommodate one of the hottest presale opportunities of 2024 in Kelexo (KLXO). Kelexo is banking on a full-blown revival of decentralized finance, which is expected to propel its native token, KLXO, to high heavens in 2024. Here’s why analysts believe KLXO could become the next emerging force in DeFi, particularly in the realm of crypto lending.
Cardano (ADA) takes a spill
Cardano has been one of the market’s slowpokes in recent weeks. While most altcoins have made remarkable gains in the past month, Cardano remains one of the biggest losers by turning a 30-day loss of 32% as of press time. Its native token, ADA, was last changing hands at $0.49, a far cry from its March heights of $0.79. ADA holders can only account for a 9% profit on a year-to-date basis, with the percentage of Cardano holders in profit plummeting. The altcoin’s underperformance has seen whales dumping large volumes of ADA tokens as they look elsewhere for greater gains.
Avalanche (AVAX) is down over 50% in the past 30 days
Avalanche was one of the biggest losers in the past 30 days as AVAX token prices careened to an intraday low of $31.50 as of press time. That’s a LOT of Avalanche whales dumping like crazy. In the past 24 hours of trading, AVAX recorded a 2.5x increase in trading volume, indicating heavy sell-side pressure causing the massive fall in AVAX token prices.
Kelexo (KLXO) goes LIVE with stage 2 of the presale launch
Decentralized finance is picking up steam in 2024, rising to a total value of $100 billion locked within all DeFi protocols as of April 2024. The fast recovery of the DeFi sector after contracting to all-time lows in TVL in 2022 and 2023 proves investors’ optimism. One of the protocols receiving major inflows as early as stage 2 of its presale phase is Kelexo, which elevates the crypto lending paradigm with its revolutionary marketplace architecture.
Prior to Kelexo, legacy lending platforms that peaked in 2021, like AAVA and Compound, have failed to garner much mainstream adoption save for the hard-core sector of DeFi fans. With Kelexo (KLXO), however, crypto lending will be as easy as getting on eBay and searching for the loan that works best for the borrower as it does for the lender. There’s no KYC, long processing times, or complicated hoops to jump through. This ease of use and lack of learning curve required is what gives its native token KLXO tremendous moon potential. With token prices at just $0.055, there’s never been a better time to gain exposure to DeFi than joining the Kelexo presale today.
Find out more about the Kelexo (KLXO) presale by visiting the website here.
Disclaimer: Any information written in this press release or sponsored post does not constitute investment advice. Themarketperiodical and all its authors do not, and will not endorse any information on any company or individual on this page. Readers are encouraged to make their own research and make any actions based on their own findings and not from any content written in this press release or sponsored post. Themarketperiodical.com is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release or sponsored post.