Klaytn (KLAY) Price Prediction 2024-2030: Will KLAY Price Hit $1 Soon?

• Bullish KLAY’s price prediction ranges from $0.4562 to $0.5173.
• Analysis suggests that the KLAY price might reach $0.8589 soon.
• KLAY’s bearish market price prediction for 2024 is $0.1029 to $0.0673.

There are other digital currencies besides Bitcoin (BTC) and Ethereum (ETH) that people who want to diversify their portfolios and learn more about cryptocurrencies should consider. Klaytn (KLAY) is one of them.

Kakao, a South Korean ISP, created a blockchain platform for businesses called Klaytn. As a service-oriented blockchain platform, Klaytn is designed to be easily customized and operated by enterprises thanks to its modular network architecture.

If you are interested in the future of KLAY and want to know its predicted value for 2024, 2025, 2027, and 2028 until 2030, keep reading!

Klaytn (KLAY) Market Overview

What is Klaytn (KLAY)?

Klaytn is a public blockchain concentrating on the metaverse, gamefi, and the creator economy. It was officially released in June 2019 and has since become the leading blockchain platform in South Korea. The company is now expanding internationally from its base in Singapore.

Klaytn provides an end-to-end metaverse package that includes customized L2 solutions, SDKs and smart contract libraries, IPFS solutions, wallets, chain explorers, oracles, and bridges, as well as an ecosystem of supporting services such as stablecoin integration, NFT marketplaces, tradfi interfaces, and more, to simplify building for the metaverse.

Usage cases where near-instant and irreversible finality is desired, such as the real-time minting of in-game item drops, are made possible by Klaytn’s use of an optimized version of Istanbul BFT, allowing transactions to achieve absolute finality within a second.

Proof-Work or Proof-Stake blockchain transaction has a probabilistic finality, meaning there is a slight chance it can be undone. Given their scalability issues, these blockchains are not suitable for critical applications. Klaytn uses the IBFT consensus method to ensure all blockchain data is correct and can’t be changed. This gives enterprise-level software consistency and trustworthiness.

As one of the new standards for the metaverse and Web3, EVM has Klaytn’s backing, and the company plans to adopt the EVM specification by doing two things: making Klaytn’s technical stack equivalent to the Ethereum stack from an interfacing and execution perspective, and building atop existing Ethereum clients and interfacing libraries so that it can take advantage of the community-driven improvements to those projects. Contributing to both ecosystems by allowing Ethereum Improvement Proposals (EIPs) and Klaytn Improvement Proposals (KIPs)

Klaytn’s Governance Council defines decentralization (GC). Leading global corporations and DAOs from different regions and industries set up a small validator network that gives the benefits of a decentralized public blockchain while keeping the performance of a permissioned blockchain. Klaytn wants to establish a “DAO of DAOs” by adding more DAOs to their GC.

Klaytn uses the hub-and-spoke model, a top scalability option. Klaytn’s spokes, also called service chains can be changed to meet the needs of DApps, such as high throughput, specific node configurations, and custom security. Nested service chains will allow exponential scalability for metaverse-scale adoption.

Klaytn has set aside $1 billion for ecosystem growth through reserve KLAY and on-chain tokenomics, which re-invests 66% of newly created KLAY. The Klaytn Improvement Reserve (KIR) funds infrastructure, tools, and services that improve the Klaytn network. The Klaytn Growth Fund (KGF) funds early-stage ventures with strong potential to develop Klaytn. The Proof of Contribution (PoC) program gives rewards to smart contract builders who help Klaytn improve its on-chain operations.

Industry leaders, including Japan’s GMO Internet Group, Indonesia’s Salim Group, and mobile gaming heavyweights Netmarble and WeMade, are all partners of Klaytn, making it clear that we’re the blockchain of choice for corporations and enterprise-level use cases. Also, the CBDC project at the Bank of Korea uses a private, customized version of Klaytn, and Klaytn is an official blockchain partner for this initiative.

Klaytn (KLAY) Current Market Status

The maximum supply of Klaytn is unknown, while its circulating supply is 3,482,593,448 KLAY, according to CoinMarketCap. At the time of writing, KLAY is trading at $0.2229, representing a 24-hour fall of 9.88%. The trading volume of Klaytn in the past 24 hours represents an 18.69% surge.

Some top cryptocurrency exchanges for trading Klaytn (KLAY) are Binance, Bithumb, OKX, Kucoin, Gate.io, and others. Now that you know what Klaytn is and its current market status, we shall discuss the price analysis of Klaytn (KLAY) for 2024.

Klaytn (KLAY) Price Analysis 2024

Currently, Klaytn is ranked in the 85th position on CoinMarketCap. Will developments and upgrades within the Klaytn community increase the price of Klaytn (KLAY)? We shall see this in this Coin Edition price analysis 2024 article.

Klaytn (KLAY) Price Analysis – Bollinger Bands

The Bollinger Bands are a technical analysis tool that is used to analyze price movement and volatility. Bollinger Bands (BB) utilize the time period and the standard deviation of the price. Normally, the default value of BB’s period is set at 20. The upper band of the BB is calculated by adding 2 times the standard deviations to the Simple Moving Average (SMA), while the lower band is calculated by subtracting 2 times the standard deviation from the SMA. Based on the empirical law of standard deviation, 95% of the data sets will fall within the two standard deviations of the mean.

During the last quarter of December, it seems that KLAY was enjoying the bull market as it was hugging the upper band of the indicator. After a continuous test on the upper band, the candlestick faced a retracement, which pulled KLAY back to the bottom half of the Bollinger Band. It seems the fall pulled KLAY into a deep hole before the buyers finally rallied and pushed KLAY to the top half of the indicator. Moreover, the distance between the upper and lower bands is reducing, which could signal that the indicator may be contracting. 

Klaytn (KLAY) Price Analysis – Relative Strength Index (RSI)

The Relative Strength Index (RSI) is a momentum indicator utilized to find out the current trend of the price movement and determine if it is in the oversold or overbought region. Traders often use this tool to make decisions about when to buy or sell the tokens. When the RSI is often valued below or at 30, it is considered an oversold region, and a price correction could happen soon. Moreover, when the RSI is valued above or at 70, it is considered an overbought region, and traders expect the price to fall soon.

The RSI is currently valued at 53.92, which is still considered neutral by some analysts. Although a massive golden candlestick was formed on the charts, it was still too early to confirm whether KLAY would experience an uptrend, which could help boost the altcoins upward momentum. It seems that the RSI falling into the neutral zone happened after the indicator touched the oversold region. The altcoin was able to quickly respond and move away from the dangers of the oversold region.

Klaytn (KLAY) Price Analysis – Ichimoku Cloud

Ichimoku Kinko Hyo, also commonly known as Ichimoku Cloud, offers profound insights into the ever-changing market dynamics. This versatile indicator enables traders to pinpoint crucial support and resistance levels, discern market trends, gauge momentum, and generate valuable trading signals. Translating to “one look equilibrium chart,” Ichimoku Kinko Hyo, devised by journalist Goichi Hosoda and unveiled in his 1969 publication, helps traders swiftly identify trends and explore potential trade signals with just a glance.

While moving in an uptrend by staying above the green cloud, the candlesticks broke through several future resistance levels. However, the conversion line fell below the base line, causing the candlesticks to fall below the green cloud. After this tumble, the candlestick climbed again and is currently residing within the green cloud. It seems that KLAY may surge after hitting the support of the red cloud’s line.

Klaytn (KLAY) Price Prediction 2024

Looking at the above chart, the candlesticks fell below the critical support line during its downtrend period. However, KLAY was able to quickly recover and started its ascend, moving along the trend line. It seems that the uptrend was highly influenced by the accumulation from traders, which can be clearly seen through the development of positive candlesticks. However, it seems another price correction took place after touching the overbought region. 

Currently, the buyers have rallied to KLAY’s side, making it stay above $0.2259. The recent formation of positive candlesticks signals that a potential uptrend may have started. However, it is still too soon to confirm the trend of the altcoin.

 These accumulations from buyers were highly influenced by the developments in the crypto market, creating a positive sentiment in the crypto market. With expectations that the market would be bullish, it is expected that KLAY may hit the $0.4562 price level, and an extreme uptrend scenario would push the altcoin to touch the $0.8 area.

Klaytn (KLAY) Price Prediction – Resistance and Support

The KLAYUSDT chart reveals that the candlesticks are still below 0.382 Fib level. Although it broke above this level during its bullish price action, KLAY would face retracement and fall below this level. After a continuous test near this level, KLAY has the potential to break above the 0.382 Fib level and reach new levels.In order to reach $0.8, KLAY’s price actions need to be influenced by buyers and break beyond the 0.786 Fib level. 

Klaytn (KLAY) Price Prediction 2025

KLAY could still experience the after-effects of the Bitcoin halving and is expected to trade above its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, similar to many altcoins, KLAY will continue to rise in 2025, forming new resistance levels. It is expected that KLAY will trade beyond the $1.563 level.

Klaytn (KLAY) Price Prediction 2026

It is expected that after a long period of bull runs, the bears will come into power and start negatively impacting cryptocurrencies. Moreover, when KLAY remains in the oversold region, there could be a price correction soon. KLAY, by the end of 2026, could be trading beyond the $1.983 resistance level after experiencing the price correction.

Klaytn (KLAY) Price Prediction 2027

Naturally, traders expect bullish market sentiment after the crypto industry was negatively affected by the bears’ claw. KLAY is expected to rise after its slumber in the bear season. Moreover, KLAY could even break more resistance levels as it continues to recover from the bearish run. Therefore, KLAY is expected to trade at $2.347 by the end of 2027.

Klaytn (KLAY) Price Prediction 2028

Once again, the crypto community is looking forward to this year, as there will be a Bitcoin halving. Like many altcoins, KLAY will continue to form new higher highs and is expected to move on an upward trajectory. Hence, KLAY would be trading at $2.980 after experiencing a massive surge by the end of 2028. 

Klaytn (KLAY) Price Prediction 2029

2029 is expected to be another bull run due to the aftermath of the BTC halving. However, traders speculate that the crypto market will gradually become stable by this year. In tandem with the stable market sentiment and the slight price surge expected after the aftermath, KLAY could be trading at $3.578 by the end of 2029.

Klaytn (KLAY) Price Prediction 2030

After witnessing a bullish run in the market, KLAY and many altcoins would show signs of consolidation and might trade sideways for some time while experiencing minor spikes. Therefore, by the end of 2030, KLAY could be trading at $3.859.

Klaytn (KLAY) Price Prediction 2040

The long-term forecast for KLAY indicates that this altcoin could reach a new all-time high (ATH). This would be one of the key moments, as hodlers may expect to sell some of their tokens at the ATH point. However, KLAY may face a slight fall before starting its upward journey once again. It is expected that the average price of KLAY could reach $14.678 by 2040.

Klaytn (KLAY) Price Prediction 2050

The community believes that there will be widespread adoption of cryptocurrencies, which could maintain gradual bullish gains. By the end of 2050, if the bullish momentum is maintained, KLAY could surpass the resistance level of $34.052.  

Conclusion

KLAY has been on the watch-out list of many investors as it aims to make its mark in the blockchain industry. If investors continue to show interest in KLAY and add these tokens to their portfolio, then it could continue to rise. KLAY’s bullish price prediction shows that it could pass beyond the $0.4568 level in 2024. Moreover, KLAY could surpass the $34.052 level by the end of 2050. 

FAQ

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.