Max E.Mon, Apr 11, 2022 7:00 PM
Kyber Network: 11 April Price Digest
Kyber Network is a decentralized cryptocurrency protocol with its HQ located in Singapore. Founded in 2017 with the sole purpose of creating a decentralized environment where users can instantly exchange and convert their digital assets with minimal effort, Kyber Network is a network liquidity protocol that connects token ecosystems for instant, seamless, and secure transactions.
Lately, Kyber Network’s prospects have improved as the macroeconomic and geopolitical environment demonstrates the benefits of keeping funds outside of traditional financial systems and financial institutions.
On April 8, the price of the KNC token rose by as much as 253%. At the time of writing, the price of the token is $4.06. Over the past 24 hours, it has grown by 13.97%.
The growth could be triggered by the integration of the Kyber Network project with various cryptocurrency exchanges and platforms. Recently, there has been a steady increase in the number of new project partnerships and integrations of new protocols that allow expanding the scope of the network.
The future of decentralized finance, the non-fungible token sector, and the metaverse is unthinkable without the ability to transfer data and assets across multiple chains, where investors are able to access an array of data through a single protocol.
The other day users became aware of the KyberSwap integration with Uniswap v3 in the Ethereum and Polygon networks. Thus, the main decentralized exchange on the Kyber network now offers trading on ten different networks.
The project's partnership with the Avalanche Network and its Avalanche Rush Phase 2 liquidity mining program was another major event that increased trading activity on the Kyber network and attracted new investors. On March 21, the liquidity provider incentive program was launched.
The renewal of the token ecosystem cannot be discounted either – Kyber 3.0 was launched in January 2022. The update included a complete rebranding of KyberSwap.