April 13, 2020: Kyber Network (KNC): Down 3.47%; 2nd Straight Down Day

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Kyber Network: What’s the Latest Regarding its Price?

Kyber Network is down by approximately 3.47% from the previous day, with its price currently hovering around $0.459 USD. This marked the the 2nd consecutive day Kyber Network has been down; it is still in an uptrend, and is currently 0.18% above its 20 day moving average; staying above this level may be critical to sustain short-term momentum. Another data point we may find worthy of observation is that price for Kyber Network has increased 1 of the previous 5 days. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 71.12% 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 $0.401798 and $0.514512 based on its momentum and volatility over the past 14 days. Given its boundaries, rangebound traders may find it compelling to entertain shorting, as we are nearer to the top of the range.

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 $83 million.

Daily Engagement Metrics Update

Over the past 24 hours, 765 transfers have been added to the blockchain recording transactions amongst holders of Kyber Network. As for the number of holders, yesterday saw the number of wallets holding Kyber Network rise by 40. In terms of recurring usage, we can note that 7,121 wallets have sent or received coins in the past month, while 282 have in the past day.

How are the Strong Holders of Kyber Network Faring?

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. Incidentally, this value exceeds 100% because many owners are not yet able to sell (due to contractual provisions), and our supply metric only observes liquid supply. 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 8.06% of the currency’s total money supply. Exchange ownership grew by -0.35% over the past week, while the overall ownership percentage of the top 1,000 richest wallets grew by -0.2% over that time period.

The Latest on Kyber Network and Social Media

In the past day, Kyber Network’s Twitter followers went up by 18, respectively. Twitter appears to be the most popular place to follow the company, and thus may be worth monitoring. Use this link to follow Kyber Network on Twitter.

Article by SixJupiter

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