May 2, 2020: Kyber Network (KNC): Up 0.27%; 4th Straight Up Day

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Kyber Network: What’s the Latest Regarding its Price?

Kyber Network is up by approximately 0.27% from the previous day, with its price currently hovering around $0.6972 USD. Kyber Network enters the day 26.08% above its 20 day moving average, and is experiencing its the 4th consecutive day up. To help contextualize yesterday’s price move, we can observe that price has rallied 4 of the past 5 days. And in terms of volume, yesterday’s price move ocurred on volume that was 84.74% 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 $0.341092 and $0.764868, based on how price has behaved in the two weeks prior. Given its boundaries, rangebound traders may find it compelling to entertain shorting, as we are nearer to the top of the range.

The currency’s market cap currently stands at $125 million US dollars.

Straight Off the Chain

Over the past 24 hours, 839 transfers have been added to the blockchain recording transactions amongst holders of Kyber Network. As for the number of holders, yesterday saw the number of wallets holding Kyber Network rise by 85. In terms of recurring usage, we can note that 7,830 wallets have sent or received coins in the past month, while 398 have in the past day.

Just How Rich are Kyber Network’s Richest Holders?

In terms of wealth concentration, the richest 1,000 wallets own 107.45% 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 7.61% of the currency’s total money supply. Exchange ownership grew by 0.27% over the past week, while the overall ownership percentage of the top 1,000 richest wallets grew by -0.19% 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 75 and 36 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. You can follow Kyber Network on Twitter here.

Article by SixJupiter

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