Kyber Network Crystal Strides In Green With A 30% Surge

  • KNC hit its all-time high at $5.72 USD on 28 April 2022.
  •  74.8 million KNC were given to early investors in the 2017 private sale.

The global crypto market is still on code red and all the cryptos are struggling to withstand the stormy inflation occurring in the off-chain macro market. Once again in crypto history, Kyber Network Crystal v2 (KNC) outshines other cryptos by exhibiting bullish trends. Previously, in January, KNC gained a 57% hike in its price amid the bearishness.

As per the data from CMC, KNC traded at a price of $1.54 USD on Tuesday and it surged by 30% in the last 24 hours. At the time of writing, the price stood at $2.167USD.

KNC is an ERC-20 token in the Kyber Network. The DEX token is named after the Star Wars crystal that charges lightsabers. Apart from granting voting rights in KyberDAO, these tokens can be staked in several Defi liquidity protocols.

Source: TradingView

Trustless Trading in DeFi

Kyber Network is a multi-chain liquidity hub in the DeFi that establishes permissionless trading across major blockchains. The network is compatible with Ethereum, Avalanche, Polygon, Fantom, Cronos, and Arbitrum. It facilitates 

Kyber launched the first dynamic market marker (DMM), KyberSwap. This DEX aggregator serves as a liquidity source functioning across 60+ DEXs. The team reported $24 billion USD TVL on the DEXs.

Liquidity providers (LPs) can customize the trading price for any token pair through features such as “programmable pricing” and “dynamic fees”.

KyberSwap is operating on Aribtrum, an L2 Ethereum-based blockchain since March. In late April, the DEX aggregator was integrated with the BitTorrent Chain (BTTC), an interoperable protocol. 

At the time of writing, according to CMC, KNC stood with a 24-hour trading volume of $505,320,987 USD and a market cap of $395,702,473 USD.