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The cryptocurrency market has experienced a cooling phase as Bitcoin (BTC) consolidates gains after hitting $64,996. This market cool-off has led to notable dips in altcoins like Zcash (ZEC), Monero (XMR), and Klaytn (KLAY) as the global crypto market cap dropped 0.26% to $2.24 trillion.
Klaytn (KLAY) is gaining traction among altcoins, trading positively on Monday despite Bitcoin's ongoing struggles below the $60,000 level. While several other cryptocurrencies like Tron, NEO, and Monero saw notable gains in the early US trading session, Klaytn managed to hold above the $0.
With the year 2024 becoming a year of strong bullish turnaround for the crypto industry, coins like Klaytn are writing a turnaround story. With the growing bullish dominance and the rising trading volume, the KLAY price action sirens trend reversal.