Klaytn Foundation Says Its KLAY Buyback Is Currently In Progress

Twitter icon  •  Published há 1 ano  •  Hassan Maishera

The Klaytn Foundation announced via a blog post on Monday that its KLAY buyback scheme is currently in progress.

The Klaytn Foundation announced via a blog post on Monday that its KLAY buyback scheme is currently in progress. According to the team, they detected abnormal fluctuations in on-chain liquidity, and the decision was made to execute a market buyback of KLAY from the markets in order to stabilize Klaytn’s ecosystem.

The buyback is currently in progress and is strictly limited to spot purchases directly from the market. All KLAY purchased via the buyback will be burnt, the team concluded. 

Klaytn is a public blockchain developed by Ground X, the blockchain arm of Korea’s internet giant Kakao with 50 million users worldwide. KLAY is up by more than 11% in the last 24 hours and now trades at $0.2099 per token.

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.