Why is Kyber Network Crystal v2 (KNC) crypto drawing attention?

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Why is Kyber Network Crystal v2 (KNC) crypto drawing attention?

Why is Kyber Network Crystal v2 (KNC) crypto drawing attention?
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Highlights

  • Kyber Network Crystal v2 (KNC) is a liquidity protocol hub that aggregates liquidity from various sources and provides instant and secure transactions of DApps. 
  • The KNC token has a total supply of 177.81 million.
  • There are a total of 9,738 holders of KNC. 

Kyber Network Crystal v2 (KNC) has risen over 13% over the past four days.

On April 18, Kyber Network Crystal v2 (KNC) announced KyberSwap's integration with BitTorrent Chain (BTTC), an EVM cross-chain protocol designed to scale smart contracts on Ethereum, TRON and BNB Chains. It also announced around US$1.5 million worth of liquidity mining and trading incentives to users.

Despite its rise in the last few days, helped by positive developments, the token traded 0.12% lower at US$4.89 at 12:28 pm ET on Friday. 

After the announcements, the company launched a series of contests, including the Sure Win Trading Contest from April 21 to 30. Participants will need to perform a token swap on BTTC to earn from the US$30,000 rewards pool.

On Friday, the network announced its first airdrop of US$200 KNCs for five lucky winners of the contest from April 22 to April 26. To participate, one needs to join its Discord server, Telegram Group, follow the network on Twitter, retweet the message and tag five friends.

As the contest started, KNC's trading volume rose 14.01% to US$429.9 million.  

Also Read: Are crypto exchange FTX (FTT), Goldman Sachs exploring collaboration?

The token enjoyed a high social volume of 9,133 daily hits as per Lunar Crush, a cryptocurrency social intelligence platform, Kyber Network tweeted on Friday. 

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What Is Kyber Network (KNC)?

Kyber Network is a liquidity protocol hub that aggregates liquidity from various sources and provides instant and secure transactions of DApps. 

It aims to provide easy access to liquidity pools with the best rates available to the DeFi DApps, DEXs, and other users. Kyber Network offers services like KyberSwap and KyberDAO for traders and liquidity providers.

Also Read: Why is Monero (XMR) crypto gaining attention? All you need to know

Why is Kyber Network Crystal v2 (KNC) crypto drawing attention?Data Source: coinmarketcap.com

Also Read: Why NEAR Protocol (NEAR) token soared over 55% in a month?

KNC Token:

KNC is its utility token for various uses in the ecosystem. It is an ERC-20 token.  

KNC token market capitalization currently is US$869.18 million. Its circulating supply is 177.81 million KNC, and the total supply is also the same.

The token can be purchased from Binance, OKX, Currency.com, FTX, and CoinTiger crypto exchanges.

Also Read: Why is TRON (TRX) crypto riding high?

Bottom line:

There are 9,738 holders of KNC tokens which are supported by Trust wallet, MetaMask, and Binance Chain Wallet.

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