The downward trend, in 2023 had an impact on all cryptocurrency applications across blockchains. Ethereum (ETH) is currently experiencing below-average performance following the crisis and the decline in crypto markets. Like Ethereum (ETH), several web3 projects operating on parallel blockchains with the proof of stake consensus model, have also suffered the same greater losses. Examples of applications facing the same challenges as Ethereum (ETH) include Polkadot (DOT) and Ripple (XRP).
What Influenced The Fall of Polkadot (DOT) and Ripple (XRP)?
Over time Polkadot (DOT) has gradually declined from an all-time high of $54.98 to its price of $6.59 causing losses for investors along the way. This decline was unexpected considering that compared to DeFi applications, Polkadot (DOT) had higher utility and a strong underlying model.
Polkadot (DOT) was created by the founders of Ethereum and implemented a model of Ethereum (ETH) for facilitating chain transactions and data exchange to make platform interoperability faster and more seamless. To ensure security, credibility and transparency for their users, Polkadot (DOT) adopted a proof of stake system akin to its parent chain.
Polkadots (DOT) decline can be attributed to a lack of innovation. While Polkadot (DOT) has proven its usefulness through operations in the past, other dApps quickly caught up. This increased competition led to a decrease, in demand, for Polkadot causing major investors to withdraw their support and resulting in a crash.
What sets Kelexo (KLXO) apart from Polkadot (DOT) and Ripple (XRP)?
Although the common belief is that nothing is irreplaceable, with Kelexo (KLXO), these words are untrue. Coming fresh with a new perspective on crypto lending processes and DeFi transactions, Kelexo (KLXO) has been able to carve out a path that has not been explored before. Kelexo (KLXO) is not just the first web3 banking application seeking to solve the problem of lengthy loan processes and connections, but it is the only one with a presale price as low as $0.022 at stage one. With the total market supply capped at 440,000,000 tokens, this provides a mouth-watering entry point that promises scalability and will be able to adjust to unforeseen modalities in the crypto market.
The uniqueness of their vision is what sets Kelexo (KLXO) apart from Polkadot (DOT) and Ripple (XRP). Kelexo (KLXO) leans into its monopoly of market and numerical model to give a utility and value that results in optimal profit for users and investors. In addition to this, there are extra perks to Kelexo (KLXO) such as their global debit cards which can be used for cross-platform payments anytime, easy access to cash, easy liquefaction of assets and zero KYC checks. All these features show the making of a blue-dot cryptocurrency project and analysts suggest that investors buy into the presale early as Kelexo (KLXO) is the only project with the potential to save 2024.
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Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.