March 26, 2020: Kyber Network (KNC): Down 1.99%; 2nd Consecutive Down Day

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How Did Kyber Network’s Price Fare Yesterday?

At the time of this writing, Kyber Network has a price of $0.4476 USD, which puts it down by approximately 1.99% from yesterday. Kyber Network is currently in a unclear , and it should be noted that this is now the the 2nd day in a row that price has been down. Moreover, Kyber Network is now 17.13% below its 20 day moving average. Another data point we may find worthy of observation is that price for Kyber Network has increased 4 of the previous 10 days. And in terms of volume, yesterday’s price move ocurred on volume that was 81.39% 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 $0.471359 and $0.608881, based on how price has behaved in the two weeks prior. Price’s current proximity to the bottom of the range may make buying an attractive opportunity to traders interested in trading the range.

The currency’s market cap currently stands at $80 million US dollars.

Straight Off the Chain

Yesterday saw NA transfers amongst holders of Kyber Network. As for the number of holders, yesterday saw the number of wallets holding Kyber Network NA by NA. To understand loyalty or repeat usage amongst holders of Kyber Network, we can note that there were 337 wallets making a transaction yesterday, while 10,422 wallets have sent or received tokens in the past month; this imputes a daily active wallet to monthly active wallet ratio of about 0.03.

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 108.7% 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 percent of the currency that is owned by wallets that are both belonging to exchanges and in the top 1,000 richest wallets of the token comes out to 9.07% of the currency’s money supply. In terms of growth rates, the share of total supply of the richest 1,000 wallets has grown by -0.14% over the past week. For the exchange wallets within the richest 1,000 wallets, their share has grown by -0.07%.

What’s Going on Social Media?

In the past day, Kyber Network’s Twitter followers and Reddit subscribers went up by 34 and 7, respectively. 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

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