Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Amid market shifts, XRP and ETH communities capitalize on the Kelexo Stage 2 presale, highlighting its promise in the burgeoning defi sector.
The burgeoning Decentralized Finance (defi) space is witnessing a surge of interest in Kelexo (KLXO), a peer-to-peer lending platform built on the Ethereum (ETH) blockchain.
This excitement coincides with the launch of Kelexo Stage 2 presale, attracting investors, particularly those holding established cryptocurrencies like Ripple (XRP) and Ethereum (ETH). Let’s explore the factors driving this influx and Kelexo potential to disrupt defi lending.
Ripple vs. SEC
For years, Ripple and SEC have been battling in court – Ripple Labs countered the SEC’s push for a $2 billion fine with a claim that it should only be liable for around $10 million, citing what it sees as evidence of the SEC’s “ongoing intimidation” toward the crypto industry.
The legal battle between Ripple and the SEC stems from allegations that Ripple raised $1.3 billion through the sale of Ripple, deemed an unregistered security by the SEC.
Despite a previous ruling by Judge Analisa Torres in New York, which deemed some of Ripple sales as not violating securities laws, the disagreement persists, with Ripple maintaining its confidence in a fair resolution in the final remedies phase.
This back-and-forth court battle has stalled the potential growth of Ripple, a decentralized payment provider, faster than existing solutions for institutions globally using its native cryptocurrency. However, its investors are flocking to Kelexo Stage 2 presale for potential profit opportunities.
Ethereum price movement and Ethereum ETP outflows
Ethereum price is at $3,181 and getting ready for a potential rally. Despite Ethereum ETPs recording significant outflows of $85 million in April, the cryptocurrency’s recent price movement suggests a potential rally, buoyed by factors such as the fourth Bitcoin halving and heavy buying from wallets suspected to be owned by Justin Sun.
While Ethereum whales, including the suspected Sun wallet, have been accumulating large amounts of Ethereum, investors in Ethereum ETPs have been selling off, with $34 million in outflows recorded in the past week alone.
This contrasts with Bitcoin, which saw $333 million in inflows likely driven by its recent halving. Speculation surrounds a potential approval of a spot Ethereum ETF in May, with some suggesting that the SEC may aim to avoid the controversies seen with Bitcoin ETF approvals earlier in the year.
Kelexo Stage 2 presale
Kelexo (KLXO) is an Ethereum-based peer-to-peer lending platform offering asset-backed short-term loans, currently in its second stage of presale where tokens are available at $0.055 each. Interested investors can register on the website to participate in the presale, which consists of five stages with increasing token prices.
Following the completion of the presale, tokens will be airdropped to investors’ wallets and they will receive a 20% weekly return for five weeks starting from the project’s launch. With the presale projected to sell out within 90 days, early investors have an enticing opportunity to engage with Kelexo and potentially benefit from its future market expansion.
Ripple and Ethereum holders can leverage Kelexo in several ways:
● Users can earn interest on their holdings by supplying Ripple or Ethereum to the lending pool.
● Users can borrow against their existing Ripple or Ethereum holdings to access additional capital without needing to sell their assets.
● Exposure to emerging defi projects
To learn more, visit the Kelexo website.
Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
