As of January 14, 2024, the digital coin Klaytn (KLAY) has dropped by 20% in the last 7 days, marking the lowest among all cryptocurrencies in the top 100 by market capitalization. It is noteworthy that this virtual currency has fallen to the 96th position and is at risk of being excluded from the list of leading cryptocurrencies.

The current KLAY exchange rate has fallen to $0.19, and in the last 24 hours, the trading volume of this digital asset amounted to only $12.17 million. The market capitalization of this cryptocurrency currently stands at $664.7 million, with a total supply of 3.481 billion KLAY in circulation.

Klaytn is an open blockchain platform developed by Ground X, a subsidiary of the South Korean corporation Kakao. The primary purpose of this platform is to enable the creation and deployment of decentralized applications (DApps) and smart contracts.

Klaytn aims to provide simple and convenient tools for developers, allowing them to build and develop high-performance and scalable products. The platform offers various features, including open APIs, a set of SDKs, and extensive documentation.

KLAY cryptocurrency serves as a means of exchange and payment for transactions and services on the Klaytn network. This digital token also plays a crucial role in incentivizing participation and voting on key protocol decisions. The project team actively collaborates with partners from various industries, including banks, financial institutions, telecommunications companies, and other blockchain platforms, contributing to the creation of diverse applications and the expansion of the Klaytn ecosystem.