Within the crypto market volatility continues to reign supreme, and worry, uncertainty and doubt (FUD) run rampant. This makes it difficult for any challenge to rise above the noise and put up constructive value positive aspects however there are just a few tasks which can be displaying energy through the present downturn.
Kyber Community (KNC) is a multi-chain decentralized alternate (DEX) and aggregation platform designed to supply decentralized finance (DeFi) purposes and their customers with entry to liquidity swimming pools that present the perfect charges.
Information from Cointelegraph Markets Pro and TradingView exhibits that since hitting a backside of $1.18 on Jan. 6, the value of KNC has rallied 57% to a each day excessive at $1.87 on Jan. 27 regardless of the broader weak point within the crypto market.
Three causes for the sturdy displaying from KNC embody the discharge of Kyber 3.0, which included a rebrand to KyberSwap, the increasing listing of DEXs built-in with the Kyber ecosystem and the widespread availability of KNC on centralized and decentralized exchanges.
The discharge of Kyber 3.0
Probably the most important growth driving momentum for the Kyber Community was the release of Kyber 3.0. The launch included a rebrand of the platform’s alternate interface to KyberSwap and an integration with six blockchain networks, together with Ethereum, Polygon, Binance Sensible Chain, Avalanche, Fantom and Cronos.
We’re excited to announce Kyber 3.0 transitioning Kyber from a single protocol to a hub of purpose-driven liquidity protocols catered to varied DeFi use circumstances. That is the largest change to Kyber’s structure incl. the brand new DMM & a KNC Migration proposal https://t.co/pgffnUKjsx
— Kyber Community (@KyberNetwork) January 21, 2021
On high of the mixing of a number of in style blockchain networks, the Kyber 3.0 improve was additionally designed to deal with a few of the greatest limitations in DeFi, like excessive gasoline charges and the restricted entry some tasks get by solely being out there on one alternate.
Kyber has achieved its new performance via the implementation of dynamic market makers (DMM), which permits changes to be made to the important thing parameters of a liquidity pool primarily based on latest price information and commerce quantity.
This strategy helps enhance issues which have been raised about automated market makers (AMM), together with lowering capital requirement, stopping front-running and mitigating impermanent loss.
Integration of recent DEXs
One other for the bullish momentum driving KNC greater has been the continued integration of recent decentralized alternate protocols into the Kyber Community ecosystem.
Most lately, KyberSwap integrated swimming pools from a number of DEX protocols together with ShibaSwap, DefiSwap, MMF, EmpirDEX, PhotonSwap, Morpheus, BeethovenX, Gavity, Cometh, DinoSwap and PantherSwap.
The brand new additions imply that the KyberSwap protocol now helps greater than 40 DEXs and 31,000 liquidity swimming pools throughout six main blockchain networks.
The builders at KyberSwap have additionally indicated that the assist and integration of further blockchain networks and decentralized exchanges is at present underway.
Associated: Kyber plans to become a hub for DeFi with massive DEX upgrade
Widespread availability of KNC on exchanges
KNC additionally has widespread availability on exchanges throughout the cryptocurrency ecosystem.
As proven within the graphic above which was posted on Twitter by pseudonymous consumer Cryptolaxy, KNC is the second-ranked DEX token by the presence on exchanges and it’s at present out there on 80 separate exchanges.
The one different tasks with comparable availability are ZRX with 105 alternate listings and Uniswap at 76.
VORTECS™ information from Cointelegraph Markets Pro started to detect a bullish outlook for KNC on Jan. 22, previous to the latest value rise.
The VORTECS™ Rating, unique to Cointelegraph, is an algorithmic comparability of historic and present market situations derived from a mixture of information factors together with market sentiment, buying and selling quantity, latest value actions and Twitter exercise.
As seen within the chart above, the VORTECS™ Rating for KNC climbed into the inexperienced and hit a excessive of 79 on Jan. 22, round 35 hours earlier than the value elevated 44% over the subsequent three days.
The views and opinions expressed listed below are solely these of the creator and don’t essentially mirror the views of Cointelegraph.com. Each funding and buying and selling transfer includes threat, you need to conduct your personal analysis when making a call.