Kyber Network Price Update
At the time of this writing, Kyber Network has a price of $0.3786 USD, which puts it down by approximately 19.82% 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 a down trend, and is currently 40% below 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 9 of the past 14 days. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 64.29% 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 $0.330513 and $0.931567, based on how price has behaved in the two weeks prior. As we are closer to the bottom of that range, rangebound traders may wish to consider exploring buying 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 $69 million.
Straight Off the Chain
Yesterday saw NA transfers amongst holders of Kyber Network. In terms of estimating the number of holders, over the past day the total number of wallets holding Kyber Network has gone NA by approximately NA. To further our understanding of engagement we can observe the ratio of daily active users to monthly active users; that ratio now stands at 0.05, with 430 wallets making a transfer this past day and 9,353 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 108.86% of the token’s total money supply. Ownership exceeding 100% is due to the fact that our supply metric is focused just on available supply, and some large owners of Kyber Network have ownership they cannot sell at this time — but may be able to in the future. 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 9.54% of the currency’s total money supply. Exchange ownership grew by -1.39% over the past week, while the overall ownership percentage of the top 1,000 richest wallets grew by 0.08% over that time period.
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 73 and 15 over the past 24 hours. Traders interested in following Kyber Network has the biggest presence on Twitter, where it has 103,872 users engaged. You can follow Kyber Network on Twitter here.
Article by SixJupiter
