The launch of KyberSwap DEX on the layer-2 network Arbitrum signalled the arrival of a new era of DEX trading. Trading volume has surged by 183.25k KNC in the last 24 hours and the daily price of KNC has risen by over 33%.
Kyber Network is DeFi's first multi-chain dynamic market maker and primary protocol for the Kyber Liquidity Hub. KyberSwap is both a decentralised exchange (DEX) aggregator and a source of liquidity for a capital-efficient liquidity pool that earns fees for liquidity providers, KyberSwap is available on Ethereum, Polygon, Binance Smart Chain (BSC), Avalanche and Fantom networks; you can get the best token exchange rates and earn more from your token assets.
On January 18, 2022, Kyber Network appointed Victor Tran, former CTO and co-founder of Kyber Network and a Forbes 30 Under 30 alumnus from Asia, as CEO. victor's leadership and management skills will take Kyber to new heights.
Kyber has more potential compared to Uniswap, here is a full breakdown of Kyber's development through several sets of data.
Looking through the funds coming in and out of global addresses, no one is dumping KNC, holders continue to grow, a strong consensus is being built, and along with the announcement of the launch on Arbitrum, the user-friendliness is already showing through the data side.
Kyber's market cap is just a tenth of Uniswap's
KNC holds a 30-day average of 78.39k addresses, UNI holds a 30-day average of 284.31k addresses
From the chart pattern, after the bottom shakeout in December. The current round of rallies was opened by a volume pull-up from the 7th of January.
Although the recent decline of 25% in 3 days, the short volume is small and did not form an engulfing pattern ahead.
Although yesterday began to rise against the trend, but by $BTC influence up less. Today it accelerated up nearly 30% on the premise of a $BTC rally and there is currently no top signal.
From a longer-term perspective, the volume that has been building up for a long time has broken through the top of the $2.29 oscillator range and the rally is not over yet.
Kyber's data table is equivalent to that of Uniswap, with UNI currently ranked 26th in terms of market capitalisation and KNC ranked 112th at the time of the editorial, currently up to 105th and still going strong.
With more diverse interactions and low gas fees, Kyber will gradually receive a lot of interest from users.
This article does not constitute investment advice, DYOR!
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