Kyber Network Price Update
At the time of this writing, Kyber Network has a price of $0.6271 USD, which puts it down by approximately 6.9% 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 0.24% above its 20 day moving average. Staying above this level may be critical to sustain short-term momentum. 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 23.31% less than its 7 day average volume.
In terms of an expected trading range, the Bollinger bands on Kyber Network suggest price may bounce between $0.581834 and $0.669416 based on its momentum and volatility over the past 14 days. Price’s current proximity to the top of the range may make shorting an attractive opportunity to traders interested in trading the range.
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 $114 million.
Daily Engagement Metrics Update
1,342 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 45. To understand loyalty or repeat usage amongst holders of Kyber Network, we can note that there were 458 wallets making a transaction yesterday, while 8,331 wallets have sent or received tokens in the past month; this imputes a daily active wallet to monthly active wallet ratio of about 0.05.
How are the Strong Holders of Kyber Network Faring?
As for wealth distribution, the richest 1,000 wallets currently own 107.38% of the 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. Drilling down to just exchanges, the top 1,000 wallets that are exchanges control 7.22% of the currency’s money supply. The week over week growth rate in the share of the total supply of the top 1,000 wallets has changed by -0.06%; as for the share of the total supply owned by exchange wallets within the top 1,000 wallets, that has changed by -0.38%.
The Latest on Kyber Network and Social Media
In the past day, Kyber Network’s Twitter followers and Reddit subscribers went up by 49 and 6, respectively. Traders interested in following Kyber Network has the biggest presence on Twitter, where it has 105,649 users engaged. Use this link to follow Kyber Network on Twitter.
Article by SixJupiter