How Did Kyber Network’s Price Fare Yesterday?
At the time of this writing, Kyber Network has a price of $0.6349 USD, which puts it down by approximately 4.58% from yesterday. This marked the the 3rd consecutive day Kyber Network has been down; it is still in an uptrend, and is currently 11.19% above its 20 day moving average; staying above this level may be critical to sustain short-term momentum. From another vantage point, note that price has gone up 2 of the past 5 days. As for the volume underlying yesterday’s move, note that the price change occurred on volume that was approximately 70.33% less than its 7 day average volume.
As for Kyber Network’s expected trading range — as forecasted by the Bollinger bands indicator, which determines a range based on momentum and volatility over the past two weeks — is between $0.382475 and $0.759555. Given its boundaries, rangebound traders may find it compelling to entertain shorting, as we are nearer to the top of 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
Over the past 24 hours, 1,014 transfers have been added to the blockchain recording transactions amongst holders of Kyber Network. Regarding a tally of holders, Yesterday saw Kyber Network’s wallet count rise by 28. To further our understanding of engagement we can observe the ratio of daily active users to monthly active users; that ratio now stands at 0.04, with 336 wallets making a transfer this past day and 7,978 wallets having made a transfer in the past month.
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 107.47% of the token’s total 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. 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 7.48% of the currency’s total money supply. Exchange ownership grew by -0.61% over the past week, while the overall ownership percentage of the top 1,000 richest wallets grew by -0.02% over that time period.
Kyber Network’s Social Media Presence
In the past day, Kyber Network’s Reddit subscribers went up by 12, respectively. If you are interested in following Kyber Network on social media, Twitter, where it has 105,517 following it, may be a good place to start. Here is the Twitter page for Kyber Network.
Article by SixJupiter
