Kyber Network (KNC) bucks the market-wide downtrend with a 57% gain in January


Within the crypto market volatility continues to reign supreme, and worry, uncertainty and doubt (FUD) run rampant. This makes it difficult for any challenge to rise above the noise and put up constructive worth positive factors however there are a number of initiatives which might be exhibiting power throughout the present downturn. 

Kyber Community (KNC) is a multi-chain decentralized trade (DEX) and aggregation platform designed to supply decentralized finance (DeFi) functions and their customers with entry to liquidity swimming pools that present one of the best charges.

Knowledge from Cointelegraph Markets Professional and TradingView exhibits that since hitting a backside of $1.18 on Jan. 6, the value of KNC has rallied 57% to a day by day excessive at $1.87 on Jan. 27 regardless of the broader weak point within the crypto market.

KNC/USD 4-hour chart. Supply: TradingView

Three causes for the robust exhibiting from KNC embrace the discharge of Kyber 3.0, which included a rebrand to KyberSwap, the increasing record of DEXs built-in with the Kyber ecosystem and the widespread availability of KNC on centralized and decentralized exchanges.

The discharge of Kyber 3.0

Probably the most vital growth driving momentum for the Kyber Community was the discharge of Kyber 3.0. The launch included a rebrand of the platform’s trade interface to KyberSwap and an integration with six blockchain networks, together with Ethereum, Polygon, Binance Good Chain, Avalanche, Fantom and Cronos.

On prime of the mixing of a number of standard blockchain networks, the Kyber 3.0 improve was additionally designed to deal with a number of the largest limitations in DeFi, like excessive fuel charges and the restricted entry some initiatives get by solely being accessible on one trade.

Kyber has achieved its new performance by means of the implementation of dynamic market makers (DMM), which permits changes to be made to the important thing parameters of a liquidity pool based mostly on current charge information and commerce quantity.

This method helps enhance issues which have been raised about automated market makers (AMM), together with decreasing capital requirement, stopping front-running and mitigating impermanent loss.

Integration of latest DEXs

One other for the bullish momentum driving KNC greater has been the continued integration of latest decentralized trade protocols into the Kyber Community ecosystem.

Most not too long ago, KyberSwap built-in swimming pools from a number of DEX protocols together with ShibaSwap, DefiSwap, MMF, EmpirDEX, PhotonSwap, Morpheus, BeethovenX, Gavity, Cometh, DinoSwap and PantherSwap.

The brand new additions imply that the KyberSwap protocol now helps greater than 40 DEXs and 31,000 liquidity swimming pools throughout six main blockchain networks.

The builders at KyberSwap have additionally indicated that the help and integration of further blockchain networks and decentralized exchanges is presently underway.

Associated: Kyber plans to turn out to be a hub for DeFi with large DEX improve

Widespread availability of KNC on exchanges

KNC additionally has widespread availability on exchanges throughout the cryptocurrency ecosystem.

Prime-11 DEX tokens by presence on Exchanges. Supply: Twitter

As proven within the graphic above which was posted on Twitter by pseudonymous consumer ‘Cryptolaxy’, KNC is the second-ranked DEX token by the presence on exchanges and it’s presently accessible on 80 separate exchanges.

The one different initiatives with related availability are ZRX with 105 trade listings and Uniswap at 76.

VORTECS™ information from Cointelegraph Markets Professional started to detect a bullish outlook for KNC on Jan. 22, previous to the current worth rise.

The VORTECS™ Rating, unique to Cointelegraph, is an algorithmic comparability of historic and present market situations derived from a mixture of information factors together with market sentiment, buying and selling quantity, current worth actions and Twitter exercise.

VORTECS™ Rating (inexperienced) vs. KNC worth. Supply: Cointelegraph Markets Professional

As seen within the chart above, the VORTECS™ Rating for KNC climbed into the inexperienced and hit a excessive of 79 on Jan. 22, round 35 hours earlier than the value elevated 44% over the following three days.

The views and opinions expressed listed here are solely these of the creator and don’t essentially mirror the views of Cointelegraph.com. Each funding and buying and selling transfer includes danger, it is best to conduct your individual analysis when making a call.



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