The tug-of-war that constantly happens in the crypto market is the determinant of what events unfold in the crypto world. Whatever asset dominates the charts usually displaces the others and can influence the actions of investors and traders on the blockchain.
Kelexo (KLXO) having recently launched crypto-lending services as a part of decentralized finance (DeFi) started as a novel token with exponential growth owing to several internal advantages. However, as the market enters a bullish season and other coins begin to join the exponential rise, Kelexo (KLXO) might have to battle other contenders for dominance.
Ripple's stake in DeFi
Ripple’s (XRP) major purpose is to facilitate cross-chain settlement and remittance as well as payment for services. It is also used for crypto-asset exchange at minimal costs compared to Bitcoin (BTC) or Ethereum (ETH) seeing as it runs with consensus protocols rather than a proof-of-work (PoW) or stake (PoS) model. Ripple (XRP) utilizes this consensus protocol to monitor and verify events and transactions on the blockchain.
One rule of the blockchain that Ripple (XRP) follows is that as it grows, other tokens either remain stagnant or decrease. The demand pool is sometimes finite and serves more than one crypto product. Thus the dApps are linked together in the same ecosystem and can influence each other.
What happens if Binance Coin (BNB) ends up dominating?
Binance Coin (BNB) is the native token of Binance (BNB) and was created to facilitate transactions, smart contracts and intra-chain exchange at the cheapest rate possible. Operating like a deflation coin, Binance Coin (BNB) burned to its peak of $686.31 in 2021 and now floats close to the $400 mark due to prevailing economic situations.
If Binance Coin (BNB) ends up dominating the charts, it might lead to a quick monopoly of trade and the displacement of tokens without a strong utility.
What does Kelexo's (KLXO) offer?
Unlike traditional banking which takes forever to verify details and ensure that a lender has collateral in case they are unable to pay, Kelexo (KLXO) runs differently. Using AI algorithms, Kelexo (KLXO) completes registrations in minutes and lenders can get loans from any corner of the world. Their security system also ensures that the transactions can be easily tracked by both parties to ensure compliance is met.
Find out more about the Kelexo (KLXO) presale by visiting the website here.