How Did Kyber Network’s Price Fare Yesterday?
Kyber Network is up by approximately 1.25% from the previous day, with its price currently hovering around $0.4922 USD. Kyber Network enters the day 8.51% above its 20 day moving average, and is experiencing its the 3rd straight day up. To help contextualize yesterday’s price move, we can observe that price has rallied 4 of the past 5 days. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 52.37% less than its 7 day average volume.
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 $0.413679 and $0.493551, based on how price has behaved in the two weeks prior. Price’s current proximity to the top of the range may make shorting an attractive opportunity to traders interested in trading 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 $89 million.
Update on Transactions and Holders
Over the past 24 hours, 1,943 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 73. To further our understanding of engagement we can observe the ratio of daily active users to monthly active users; that ratio now stands at 0.06, with 523 wallets making a transfer this past day and 8,056 wallets having made a transfer in the past month.
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 108.32% 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 8.13% 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 -0.1%; as for the share of the total supply owned by exchange wallets within the top 1,000 wallets, that has changed by -0.66%.
The Latest on Kyber Network and Social Media
If you are interested in following Kyber Network on social media, Twitter, where it has 104,786 following it, may be a good place to start. Here is the Twitter page for Kyber Network.
Article by SixJupiter
