May 11, 2020: Kyber Network (KNC): Down 4.04%; 2nd Straight Down Day

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How Did Kyber Network’s Price Fare Yesterday?

Kyber Network is down by approximately 4.04% from the previous day, with its price currently hovering around $0.5838 USD. Kyber Network enters the day 7.46% below its 20 day moving average, and is experiencing its the 2nd straight day down. From another vantage point, note that price has gone up 15 of the past 30 days. And in terms of volume, yesterday’s price move ocurred on volume that was 81.78% 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 $0.564764 and $0.696956, 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.

As for Kyber Network’s market cap, it is currently at about $106M US dollars.

Daily Engagement Metrics Update

1,367 transactions amongst holders of Kyber Network occurred yesterday. As for the number of holders, yesterday saw the number of wallets holding Kyber Network jump by 73. To understand loyalty or repeat usage amongst holders of Kyber Network, we can note that there were 431 wallets making a transaction yesterday, while 8,347 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.

Observing Kyber Network’s Richest Wallets

In terms of wealth concentration, the richest 1,000 wallets own 107.32% 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. 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 7.7% of the currency’s total money supply. Exchange ownership grew by 0.22% over the past week, while the overall ownership percentage of the top 1,000 richest wallets grew by -0.16% over that time period.

The Latest on Kyber Network and Social Media

If you are interested in following Kyber Network on social media, Twitter, where it has 105,649 following it, may be a good place to start. Use this link to follow Kyber Network on Twitter.

Article by SixJupiter

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