March 25, 2020: Kyber Network (KNC): Down 0.71%


Kyber Network Price Update

Kyber Network is down by approximately 0.71% from the previous day, with its price currently hovering around $0.474 USD. Yesterday’s down day is a reversal of the day before it; in terms of trend, though, note that the current price is now 14.98% below its 20 day moving average, and is currently in a unclear trend over the past 14 days. Another data point we may find worthy of observation is that price for Kyber Network has increased 6 of the previous 14 days. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 83.99% less than its 7 day average volume.

As for Kyber Network’s expected trading range — as forecasted by the Bollinger bands indicator, which determines a range based on momentum and volatility over the past two weeks — is between $0.485299 and $0.629681. As we are closer to the bottom of that range, rangebound traders may wish to consider exploring buying opportunities.

The currency’s market cap currently stands at $85 million US dollars.

Daily Engagement Metrics Update

NA transactions amongst holders of Kyber Network occurred yesterday. 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 0.03, with 316 wallets making a transfer this past day and 10,434 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 108.74% 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 8.91% of the currency’s total money supply. Exchange ownership grew by 0% over the past week, while the overall ownership percentage of the top 1,000 richest wallets grew by -0.17% over that time period.

Kyber Network’s Social Media Presence

Social media growth, in terms of Twitter followers and Reddit subscribers, came in at up 26 and 4 over the past day for Kyber Network. Traders interested in following Kyber Network has the biggest presence on Twitter, where it has 104,487 users engaged. You can follow Kyber Network on Twitter here.

Article by SixJupiter

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