Kyber Network (KNC) Outperforms Market With Over 57% Rise In January.

Kyber Network (KNC) Outperforms Market With Over 57% Rise In January.

2022-01-30 | Daniel Smith

Kyber Network (KNC) Outperforms Market With Over 57% Rise In January.

Kyber Network (KNC) is a multi-chain decentralized exchange (DEX) and aggregation system that connects decentralized finance (DeFi) applications and their customers to liquidity pools that offer the highest rates.

Volatility remains to rule supreme in the cryptocurrency market, and dread, confusion, and uncertainty (FUD) are at an all-time high. This makes it difficult for any project to emerge over the cacophony and achieve positive price gains, although a few projects are demonstrating fortitude amid the present slump.

According to information from CoinMarketCap and TradingView, the price of KNC has risen 57 percent since hitting a low of $1.18 on Jan. 6 to a daily high of $1.87 on Jan. 27 notwithstanding this overall weakening in the cryptocurrency world.

The introduction of Kyber 3.0, which featured a rebrand to KyberSwap, the growing number of DEXs connected with the Kyber environment, and the broad availability of KNC on controlled and decentralized exchanges are three reasons for KNC's excellent showing.

Kyber 3.0 is now available

The introduction of Kyber 3.0 was perhaps the most major advancement fueling impetus for the Kyber Network. The platform's trading interface was rebranded as KyberSwap, and it was integrated with six blockchain networks, namely Ethereum, Polygon, Binance Smart Chain, Avalanche, Fantom, as well as Cronos.

Aside from integrating many prominent blockchain networks, the Kyber 3.0 upgrade was also aimed to solve some of the most significant shortcomings of DeFi, such as high gas prices and the restricted access certain projects receive by only being accessible on one exchange.

Kyber's additional capability was achieved by the deployment of dynamic market makers (DMM), which allows modifications to the essential characteristics of a liquidity pool to be made depending on current fee data and trading volume.

This strategy addresses some of the issues of automated market makers (AMM), such as lowering capital requirements, eliminating front-running, and limiting temporary loss.

New DEXs are being integrated

Another factor contributing to KNC's bullish trend is the continuing inclusion of new decentralized exchange protocols into the Kyber Network ecosystem.

ShibaSwap, DefiSwap, MMF, EmpirDEX, PhotonSwap, Morpheus, BeethovenX, Gavity, Cometh, DinoSwap, and PantherSwap are among the most current DEX protocols to be included into KyberSwap.

As a result of the latest developments, the KyberSwap protocol currently supports over 40 DEXs and 31,000 liquidity pools spanning six main blockchain networks.

KyberSwap's programmers have also said that support, as well as integration of more blockchain networks and decentralized exchanges, is now in the works.

KNC is also widely available on exchanges around the crypto industry

The anonymous person 'Cryptolaxy,' KNC is the second-ranked DEX token in terms of exchange presence, as it is presently accessible on 80 different exchanges.

The sole other projects with comparable accessibility are ZRX, which has 105 exchange listings, and Uniswap, which has 76

Leave a comment

Your email address will not be published. Required fields are marked *

Top 7 cryptocurrency overview



Best trading tool for cryptocurrency

2022 Top cryptocurrency Price Prediction List