How Did Kyber Network’s Price Fare Yesterday?
Kyber Network is down by approximately 2.58% from the previous day, with its price currently hovering around $0.4754 USD. The down day for Kyber Network yesterday was a reversal from the day before it, which puts its price at 3.56% above its 20 day moving average. Over the past two weeks, price has been in an up trend. To help contextualize yesterday’s price move, we can observe that price has rallied 14 of the past 30 days. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 87.27% less than its 7 day average volume.
In terms of an expected trading range, the Bollinger bands on Kyber Network suggest price may bounce between $0.401059 and $0.517081 based on its momentum and volatility over the past 14 days. As we are closer to the top of that range, rangebound traders may wish to consider exploring shorting opportunities.
The market capitalization of Kyber Network, or the amount of US dollars it would take to buy up all the circulating coins, is currently estimated to be $86 million.
Update on Transactions and Holders
727 transactions amongst holders of Kyber Network occurred yesterday. In terms of estimating the number of holders, over the past day the total number of wallets holding Kyber Network has gone up by approximately 50. To further our understanding of engagement we can observe the ratio of daily active users to monthly active users; that ratio now stands at 0.03, with 248 wallets making a transfer this past day and 7,359 wallets having made a transfer in the past month.
Observing Kyber Network’s Richest Wallets
And in regards to wealth distribution, note that the top 1,000 Kyber Network wallets hold over 108.28% of the token’s total money supply. This number is greater than 100% because many of the token holders are not able to sell them yet, and thus their numbers are not included in the supply yet, though they can be regarded as future sellers when they are able to sell. If we focus on exchanges, which may be an correlated with liquidity and greater confidence in the currency, the exchange wallets that are in the top 1,000 wallets own 8.12% of the currency’s total money supply. The week over week growth rate in the share of the total supply of the top 1,000 wallets has changed by -0.05%; as for the share of the total supply owned by exchange wallets within the top 1,000 wallets, that has changed by -0.29%.
The Latest on Kyber Network and Social Media
In the past day, Kyber Network’s Twitter followers and Reddit subscribers went up by 17 and 11, respectively. Twitter appears to be the most popular place to follow the company, and thus may be worth monitoring. You can follow Kyber Network on Twitter here.
Article by SixJupiter
