April 14, 2020: Kyber Network (KNC): Up 3.2%

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How Did Kyber Network’s Price Fare Yesterday?

Kyber Network is up by approximately 3.2% from the previous day, with its price currently hovering around $0.4799 USD. The up day for Kyber Network yesterday was a reversal from the day before it, which puts its price at 4.41% above its 20 day moving average. Over the past two weeks, price has been in an up trend. Another data point we may find worthy of observation is that price for Kyber Network has increased 5 of the previous 10 days. Another data point we may find worthy of observation is that price for Kyber Network has increased 5 of the previous 10 days.

Traders looking for a range to trade within may wish to note that the Bollinger bands (a price indicator based on recent momentum and volatility) for Kyber Network imply the currency may oscillate between $0.404887 and $0.514343, based on how price has behaved in the two weeks prior. Given its boundaries, rangebound traders may find it compelling to entertain shorting, as we are nearer to the top of the range.

The currency’s market cap currently stands at $86 million US dollars.

Daily Engagement Metrics Update

Yesterday saw 850 transfers amongst holders of Kyber Network. As for the number of holders, yesterday saw the number of wallets holding Kyber Network rise by 56. To understand loyalty or repeat usage amongst holders of Kyber Network, we can note that there were 248 wallets making a transaction yesterday, while 6,960 wallets have sent or received tokens in the past month; this imputes a daily active wallet to monthly active wallet ratio of about 0.04.

Just How Rich are Kyber Network’s Richest Holders?

As for wealth distribution, the richest 1,000 wallets currently own 108.25% of the 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. The percent of the currency that is owned by wallets that are both belonging to exchanges and in the top 1,000 richest wallets of the token comes out to 8.63% of the currency’s money supply. In terms of growth rates, the share of total supply of the richest 1,000 wallets has grown by -0.19% over the past week. For the exchange wallets within the richest 1,000 wallets, their share has grown by 0.24%.

What’s Going on Social Media?

In the past day, Kyber Network’s Reddit subscribers went up by 3, respectively. Twitter appears to be the most popular place to follow the company, and thus may be worth monitoring. Here is the Twitter page for Kyber Network.

Article by SixJupiter

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