Kyber Network Price Update
Kyber Network is down by approximately 2.46% from the previous day, with its price currently hovering around $0.4131 USD. This marked the the 4th day in a row Kyber Network has been down; it is still in a downtrend, and is currently 28.27% below its 20 day moving average; staying above this level may be critical to sustain short-term momentum. To help contextualize yesterday’s price move, we can observe that price has rallied 15 of the past 30 days. And in terms of volume, yesterday’s price move ocurred on volume that was 87.11% 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 $0.325496 and $0.826284, 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 $74 million.
Straight Off the Chain
Yesterday saw NA transfers amongst holders of Kyber Network. Regarding a tally of holders, Yesterday saw Kyber Network’s wallet count NA by 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 0.03, with 316 wallets making a transfer this past day and 10,332 wallets having made a transfer in the past month.
Observing Kyber Network’s Richest Wallets
In terms of wealth concentration, the richest 1,000 wallets own 108.78% of the coin’s total 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. Drilling down to just exchanges, the top 1,000 wallets that are exchanges control 8.97% of the currency’s money supply. Exchange ownership grew by -0.57% over the past week, while the overall ownership percentage of the top 1,000 richest wallets grew by -0.12% over that time period.
What’s Going on Social Media?
Social media growth, in terms of Reddit subscribers, came in at up 4 over the past day for Kyber Network. 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
