February 28, 2020: Kyber Network (KNC): Down 4.4%

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How Did Kyber Network’s Price Fare Yesterday?

At the time of this writing, Kyber Network has a price of $0.5231 USD, which puts it down by approximately 4.4% from yesterday. The past 24 hours mark a reversal in price from the day prior; it should be noted, though, that price is still in an up trend, and is currently 9.45% above its 20 day moving average. Staying above this level may be critical to sustain short-term momentum. From another vantage point, note that price has gone up 1 of the past 5 days. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 56.96% greater 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 $0.358293 and $0.597597, based on how price has behaved in the two weeks prior. As we are closer to the top of that range, rangebound traders may wish to consider exploring selling 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 $94 million.

Straight Off the Chain

1,336 transactions amongst holders of Kyber Network occurred yesterday. As for the number of holders, yesterday saw the number of wallets holding Kyber Network rise by 34. To further our understanding of engagement we can observe the ratio of daily active users to monthly active users; that ratio now stands at 0.1, with 325 wallets making a transfer this past day and 3,227 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 108.92% 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.

The Latest on Kyber Network and Social Media

In terms of social media presence, Kyber Network saw its Twitter followers and Reddit subscribers go up by 175 and 35 over the past 24 hours. Traders interested in following Kyber Network has the biggest presence on Twitter, where it has 102,064 users engaged. Here is the Twitter page for Kyber Network.

Article by SixJupiter

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