Litecoin and Cardano traders are turning their attention to Kelexo amidst recent market volatility.
As Easter weekend unfolds, the cryptocurrency market presents numerous opportunities. Major digital assets are gradually recovering from a recent downturn.
This decline was triggered by the U.S. government’s filing of criminal charges against the crypto exchange KuCoin and its founders. While this news unsettled some investors, seasoned players recognize such fluctuations as part of the market’s maturation process.
Amidst this, investors in Litecoin and Cardano are showing interest in Kelexo tokens during its ongoing presale.
Litecoin Receives Support from CFTC and Coinbase Institutional
In a significant development, the Commodity Futures Trading Commission (CFTC) has classified Ethereum and Litecoin as commodities in its ongoing legal proceedings against KuCoin.
This designation signals positive prospects for Litecoin’s future, further bolstered by Coinbase Institutional’s decision to list Litecoin Futures on its platform. These developments have restored investor confidence in Litecoin. Currently, Litecoin has seen an 11% increase in value over the past seven days, trading at $95.16 per coin.
Reasons for Cardano’s Struggle to Surpass $0.7
As Cardano’s price dips below the psychological threshold of $0.7, there’s speculation about the reasons behind this downturn. Despite reaching a monthly peak of $0.8 on March 14, Cardano has been on a downward trend since then, leaving investors uncertain about its potential for recovery.
According to crypto analytics platform Santiment, whale transactions (those exceeding $100,000) on the Cardano network have decreased since March 14. This suggests that large investors may be capitalizing on profits, leaving the top-ten cryptocurrency vulnerable to further price declines.
Kelexo Expected to Surge 50x After Easter Holidays
Analysts are predicting a significant surge in Kelexo’s value, potentially reaching 50 times its current value at the peak of the current bull market. These projections are based on Kelexo’s practical services and the growing demand for its token during the ongoing presale.
Kelexo operates as a lending and borrowing platform that emphasizes user-friendliness without traditional Know Your Customer (KYC) requirements. By eliminating the need for identification documents, Kelexo aims to attract a broader demographic, promoting inclusivity within its platform.
This approach is expected to boost Kelexo’s revenue and appeal to investors who will receive a share of the platform’s earnings. With each token priced at $0.05 in stage 2 of the presale, investors are showing considerable interest in Kelexo, anticipating significant gains when it begins trading on open markets.
