How Did Kyber Network’s Price Fare Yesterday?
Kyber Network is up by approximately 0.56% from the previous day, with its price currently hovering around $0.697 USD. The past 24 hours mark a reversal in price from the day prior; it should be noted, though, that price is still in an up trend, and is currently 23.5% above its 20 day moving average. Staying above this level may be critical to sustain short-term momentum. To help contextualize yesterday’s price move, we can observe that price has rallied 7 of the past 10 days. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 85.3% 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 $0.355664 and $0.773086, based on how price has behaved in the two weeks prior. As we are closer to the top of that range, rangebound traders may wish to consider exploring selling opportunities.
The currency’s market cap currently stands at $125 million US dollars.
Daily Engagement Metrics Update
Yesterday saw 1,031 transfers amongst holders of Kyber Network. Regarding a tally of holders, Yesterday saw Kyber Network’s wallet count fall by 42. In terms of recurring usage, we can note that 7,907 wallets have sent or received coins in the past month, while 374 have in the past day.
How are the Strong Holders of Kyber Network Faring?
In terms of wealth concentration, the richest 1,000 wallets own 107.43% 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 7.6% of the currency’s total money supply. Exchange ownership grew by -0.35% over the past week, while the overall ownership percentage of the top 1,000 richest wallets grew by -0.15% over that time period.
What’s Going on Social Media?
In terms of social media presence, Kyber Network saw its Twitter followers and Reddit subscribers go up by 39 and 5 over the past 24 hours. Twitter appears to be the most popular place to follow the company, and thus may be worth monitoring. Use this link to follow Kyber Network on Twitter.
Article by SixJupiter
