KNC Price Prediction

Kyber Network is a blockchain-based liquidity hub. It connects liquidity from a wide range of sources to power instant and secure crypto exchange.

Kyber Network is a hub of liquidity protocols that aggregates liquidity from various sources to provide secure and instant transactions on any decentralized application (DApp). The main goal of Kyber Network is to enable DeFi DApps, decentralized exchanges (DEXs) and other users easy access to liquidity pools that provide the best rates. All transactions on Kyber are on-chain, which means they can be easily verified using any Ethereum block explorer. Projects can build on top of Kyber to utilize all the services offered by the protocol, such as the instant settlement of tokens, liquidity aggregation, and a customizable business model. This has led to an increase in KNC price.

KNC

The Kyber Network Crystal (KNC) token is a utility token. that is the “glue that connects different stakeholders in Kyber’s ecosystem.” KNC holders can stake their tokens in the KyberDAO to help govern the platform and vote on important proposals and earn staking rewards in Ethereum (ETH) that come from trading fees.

Kyber DMM

In April 2021, Kyber launched the Kyber DMM, the world’s first dynamic market maker protocol (DMM). Kyber DMM is a next-generation AMM designed to react to market conditions to optimise fees, maximise earnings, and enable extremely high capital efficiency for liquidity providers, especially for stable pairs with low variability in price range (like USDC/USDT, ETH/SETH). They will be able to support pools with extremely high amplification factors, which means given the same liquidity pool and trade size, slippage can be 100x (or more) better than typical AMMs. Depending on their amplification strategy, liquidity providers can maximise the use of their capital and have the opportunity to earn much more fees relative to their contribution size, while takers can enjoy extremely low slippage on their trades.

Let us review KNC Price

KNC Price Prediction

KNC

KNC is currently trading above the support zone at $1.92. If this support holds, we could start seeing a move towards $2.28, $2.44, $2.64 and $3.23. If the resistance at $3.23 breaks, we could start seeing a move towards $4.17, $5.12 and $5.75. Failure to hold the support at $1.92 could lead to a drop towards $1.70 and $1.48.

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