Kyber Network (KNC) outperforms most cryptocurrencies with a 57 percent gain in January

Kyber Network (KNC) outperforms most cryptocurrencies with a 57 percent gain in January

By Motiur Rahman - min read
Updated 14 February 2022
  • Kyber Network (KNC) outperformed the market with a 50 percent+ monthly gain after the introduction of Kyber 3.0 and interoperability throughout several decentralized exchanges.

  • Volatility appears to rule supreme in the cryptocurrency market, and worry, anxiety, and skepticism are at an all-time high. 

  • It is difficult for any project to emerge above the cacophony and achieve positive price increases, although a few projects are demonstrating fortitude during the present slump.

KNC is a decentralized exchange (DEX) that operates in a multichannel context and aggregation technology that connects decentralized finance (DeFi) apps and their customers to liquidity sources that offer the highest rates.

The price of KNC has risen 57 percent from reaching a low of $1.18 on Jan. 6 to a continuous peak of $1.87 on Jan. 27 notwithstanding this weakening in the crypto market.

Another factor contributing to KNC's bullish momentum is the continuing inclusion of new decentralized trading systems into the Kyber Network ecosystem.

Source – TradingView

As a result of the latest developments, the KyberSwap protocol currently supports over 40 DEXs and 31,000 liquidity pools throughout six main blockchain systems. The only other initiatives with comparable availability are ZRX, which has 105 exchange entries, and Uniswap, which has 76.

KNC is widely available on exchanges

KNC is the second-most-present DEX token in terms of exchange availability, and it is now accessible on 80 different exchanges.

There is a positive outlook for KNC on Jan. 22, before the latest price spike. It is based on a score that comprises an algorithmic assessment of past and present market circumstances based on various data sources such as market mood, trading volume, latest price changes, and Twitter traffic. 

The Score for KNC surged into the green and reached a peak of 79 on Jan. 22, roughly 35 hours before the price gained 44 percent over the following three days, as seen in the chart above.