The Kyber Network (ETH: $KNC) is a multi-chain crypto trading and liquidity hub. It connects liquidity from different sources, allowing traders to access the best rates. The network is decentralized and does not require sign-ups or intermediaries. Additionally, there is no limit.
Kyber Network Vision
The project has a vision of becoming the leading liquidity hub for the decentralized economy. It allows anyone to access the tokens needed to fulfill liquidity requirements. The developer team aims to create protocols that support secure and easy value exchange in DeFi, NFT marketplaces, and more.
Latest Developments
One of the latest developments was on October 12, 2023. It was announced that DeFi gas costs had been dropped by up to 70% on KyberSwap, the flagship DEX aggregator on the Kyber Network. The change will benefit for those using the Arbitum, Optimsim, and Base blockchains. They achieved this by reducing the size of the calldata, as the transaction’s data size heavily influences the three blockchains’ overall cost.
In another recent development, Kyber Network announced that the final proposal to list $KNC tokens on Aave V3 Ethereum was live. The voting began on October 13 and it will to close on October 16. If successful, $KNC tokens will be listed as collateral and borrowable assets on Aave. Everyone holding Aave tokens can participate in the vote.
In another recent development, the KyberSwap DEX aggregator and liquidity platform has created an AI integration. The AI, called kyberAI, will help make trading much more accessible for users of the kyberSwap DEX. It aims to aid traders in saving time and overcoming the complexity of trading by assisting with technical analysis. KyberAI is currently in the beta testing phase.
About KNC Tokens
Kyber Network Crystal ($KNC) is the utility and governance token of the Kyber Network. It is essential to connect various stakeholders within the ecosystem. KNC holders can participate in the KyberDAO by voting on proposals by staking their tokens. In exchange, they get rewards from fees collected via trading on the Kyber Network. KNC started as an ERC20 token on the Ethereum network. Today, it is a multi-chain token on seven other chains: BSC, Arbitrum, Polygon, Fantom, Avalanche, and BitTorrent Chain.
Token Performance
The maximum supply of KNC tokens is 252,301,550 KNC, and has a total supply of 228,775,134 KNC. Over the past 30 days, the KNC tokens have seen their price appreciate by 25.53% and now have a price of $0.6446. However, they are still down 29.32% year-over-year. The tokens achieved their all-time high on April 28, 2022, at $5.72. They are trading at an 88.77% discount on their ATH price.
The $KNC market cap is $109,611,995, with a 24-hour trading volume of $9,313,594. Around $3 million of the trading volume is on Upbit, with most of the remaining volume spread out amongst Binance, ExMarkets, Bibox, and Topcredit Int.
Social Media
Kyber Network has 295.3k Twitter followers, 44,354 Discord members, 11,820 Telegram members, 9,695 LinkedIn followers, 12.9k Reddit members, 411 Instagram followers, and 150 TikTok followers.
Future Outlook for $KNC
The $KNC token is a utility token of a rapidly growing network. As DeFi solutions become more widely accepted, it will positively impact the price of the tokens. Holding $KNC tokens now is likely to pay off in the future.
Click Here for Updates on Kyber Network News – It’s 100% FREE to Sign Up for our Email Newsletter!
Disclaimer: This website provides information about cryptocurrency and stock market investments. This website does not provide investment advice and should not be used as a replacement for investment advice from a qualified professional. This website is for educational and informational purposes only. The owner of this website is not a registered investment advisor and does not offer investment advice. You, the reader / viewer, bear responsibility for your own investment decisions and should seek the advice of a qualified securities professional before making any investment.
