April has been up and down and investors are struggling to keep up. Volatility in the market is on a high and this can prevent investors from making any reasonable decisions. Factors that influence a decision for investors can quickly change and investors have to start the process all over again.
As the market starts to show some stability, investors are moving to make the most profitable decisions, especially for the long term. For Chainlink (LINK) and Cardano (ADA) investors, this is investing in a new token, Kelexo (KLXO) for its anticipated 20X returns. Our analysis determines trends in either token and if their decision is a smart one.
Cardano (ADA) Succumbs to Bear Market
The overall trend within the market is bearish right now and Cardano (ADA) is also feeling the effects. The token is seeing more negative price action despite a growing number of transactions within its ecosystem, especially large transactions. Cardano (ADA) is experiencing negative action that threatens to pull it to a new low this year.
At $0.4673 per unit, Cardano (ADA) is worth 23% more than it was 365 days ago. However, this follows late November 2023 and early March 2024 growth. The more recent signs are more negative for the smart contract blockchain. It has only gained 4% compared to 7 days ago.
Cardano (ADA) drops by a heavy 28% compared to values at the end of March. This follows a mostly negative April where it has seen only a little growth. If the market continues to drop overall, it is likely Cardano (ADA) will continue to experience negative action.
Chainlink (LINK) Falls Under $15
Earlier in the year, Chainlink (LINK) was consistently pushing towards $20 per unit. It has dropped far from that at the time of writing and seems like it could dip even further. Chainlink (LINK) is now well under $15 with values of $14.47 as of press time according to CoinMarketCap.
Chainlink (LINK) still has 2x growth, some 106% gained, compared to 365 days ago. However, most investors will be more disappointed that it came close to 3x before a heavy fall that may continue. Chainlink (LINK) added 9% compared to seven days ago, with a $16 high in intra-week trading.
However, its 23% drop compared to the end of March is significant and looms over the minds of many investors. What is more concerning is that more than half of Chainlink (LINK) (53%) is held by Whales and exit by these investors would drag down the price significantly. Experts say that a drop to around $13 is unlikely but do not rule it out altogether.
Kelexo (KLXO) Takes Advantage of Post-halving Market
An interesting number of trends have emerged since the Bitcoin halving. While it hasn’t been the cure-all elixir that many investors had expected, there have been significant changes since the halving. Kelexo (KLXO) appears to be benefiting from many of these changes as more investors pitch their tents with the new project.
Kelexo (KLXO) is a decentralized blockchain project that seeks to democratize loans. The vision behind Kelexo (KLXO) is a world where users can get loans conveniently, without needing to mortgage their identity and go through strenuous processes. It allows users to get loans quickly and with utmost security. The entire platform is decentralized, allowing for more transparency and efficiency.
It rewards borrowers and lenders, with the latter earning fixed passive income from providing loans on Kelexo (KLXO). Investors can also get rewards from buying Kelexo (KLXO) early. It only costs $0.055 per unit in the second stage of its presale. All early investors get a low price and more returns from Kelexo (KLXO) revenue-sharing program.
To get into the Kelexo (KLXO) presale, visit the website here.
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