Kyber Network has been ranging since June 18. However, the market favours the bulls as the value of KNC/USD is having slightly higher lows. This implies that the market is rising. On the 20th and the 21st of August was a total deadlock between the buyers and the sellers. In these two days, none of them could push the price above or below the opening price. The price continued at the $1.784199 resistance. Today, the bulls push the market above the resistance level gaining 2.51%. As a result of that, the resistance has now become the new support.

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.

Kyber Network has been in a daily uptrend for quite some time now and was trading as low as $0.18 in January 2020. KNC has not only seen a massive surge in price but also its trading volume going from an average of only $3-4 million to $40 million or more, currently. The KNC/BTC pair had a decent bull break yesterday on June 8 but the massive continuation we are seeing now it’s a clear confirmation of the breakout.

The Kyber Network is set to float a $30 million liquidity mining program on both Ethereum and Polygon pools.