Kyber Network: What’s the Latest Regarding its Price?
At the time of this writing, Kyber Network has a price of $0.6659 USD, which puts it down by approximately 0.72% from yesterday. This marked the the 2nd day in a row Kyber Network has been down; it is still in an uptrend, and is currently 30.11% 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 8 of the previous 14 days. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 64.34% 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 $0.339268 and $0.684292 based on its momentum and volatility over the past 14 days. Given its boundaries, rangebound traders may find it compelling to entertain selling, 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 $120 million.
Update on Transactions and Holders
Yesterday saw 2,216 transfers amongst holders of Kyber Network. As for the number of holders, yesterday saw the number of wallets holding Kyber Network jump by 439. To understand loyalty or repeat usage amongst holders of Kyber Network, we can note that there were 616 wallets making a transaction yesterday, while 6,970 wallets have sent or received tokens in the past month; this imputes a daily active wallet to monthly active wallet ratio of about 0.09.
Observing Kyber Network’s Richest Wallets
And in regards to wealth distribution, note that the top 1,000 Kyber Network wallets hold over 107.46% of the token’s total money supply. To further clarify, our supply metric focuses only on supply that is publicly available while many large holders may have tokens they are not able to sell yet — which is why this value can exceed 100%. 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 7.43% of the currency’s total money supply. Exchange ownership grew by -0.61% over the past week, while the overall ownership percentage of the top 1,000 richest wallets grew by -0.36% over that time period.
Kyber Network’s Social Media Presence
Traders interested in following Kyber Network has the biggest presence on Twitter, where it has 105,390 users engaged. Here is the Twitter page for Kyber Network.
Article by SixJupiter
