Ever since the Kyber Network (KNC) was integrated into Uniswap v3 and Avalanche on April 10th, it has been rallying. On April 11, the KNC crypto saw a surge of over 10% with a massive volume gain of over 400%.
Powered by the Ethereum blockchain, the Kyber network is primarily a hub of liquidity protocols that provides instant and secure transactions from various decentralized applications (DApps). Described as the glue that binds diverse stakeholders together, the KNC crypto offers holders a unique opportunity to play a crucial role in fostering various innovations in Kyber’s ecosystem. Founded in 2017, the Kyber Network allows DeFi DApps, DEXs and other applications to seamlessly access liquidity pools.
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The integration
Kyber Network has gained traction after partnering with the Avalanche Network. This is intended to bring liquidity reduction capabilities to providers. KNC, which announced the start of its mining program last month, includes $1 million in bonuses and incentives for liquidity providers.
Avalanche, which happens to be one of the fastest growing EVMs, has managed to bring more traction and liquidity to users of the Kyber network by being one of the alternatives to Ethereum.
Uniswap v3 integration happened last week on April 7th. With the integration, KyberSwap, the main decentralized exchange, will now bring Ethereum and Polygon Network to the KNC network.
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Alongside these two developments, Kyber Network has been actively pushing for integration with other top chains. With the latest integration, KyberSwap will now offer trading options across different networks like Ethereum, BNB Smart Chain, Arbitrum, etc.
Price performance of KNC crypto
The KNC crypto was trading at $4.09 with volume of $724,457,750, according to CoinMarketCap. The 96th-ranked token is up 15.02%, with a live market cap of $727,668,212 and 177,809,350 KNC coins in circulation.
KNC has been on a good run for the past 30 days, staging a rally of over 58%. It continued its good performance over the past week with a gain of over 24%. While the rally bodes well, market participants should never forget that cryptocurrencies are volatile assets and their prices can change at any time. Therefore, before entering the crypto market, one must conduct appropriate market research.
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