Kyber Network Crystal v2 (KNC) is up over 13% over the past four days.
On April 18, Kyber Network Crystal v2 (KNC) announced the integration of KyberSwap with BitTorrent Chain (BTTC), an EVM cross-chain protocol for scaling smart contracts on Ethereum, TRON, and BNB chains. It also announced around $1.5 million worth of liquidity mining and trading incentives for users.
Despite its surge over the past few days, helped by positive developments, the token was trading down 0.12% at $4.89 as of 12:28 PM ET on Friday.
Following the announcements, the company launched a series of competitions including the Sure Win Trading Contest on April 21-30. Participants must perform a token swap on BTTC to earn from the $30,000 reward pool.
On Friday, the network announced its first airdrop of $200 KNCs for five lucky winners of the April 22-26 contest. To participate, one must join their Discord server Telegram Group, follow the network on Twitter and retweet the message and tag five friends.
When the competition started, KNC’s trading volume increased by 14.01% to $429.9 million.
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According to Lunar Crush, a cryptocurrency social intelligence platform, the token enjoyed high social volume of 9,133 daily views, Kyber Network tweeted on Friday.
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What is Cyber Network (KNC)?
Kyber Network is a liquidity protocol hub that aggregates liquidity from various sources and provides instant and secure transactions from DApps.
The goal is to provide easy access to liquidity pools with the best interest rates available 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
Data source: coinmarketcap.com
Also read: Why is the NEAR Protocol (NEAR) token up over 55% in a month?
KNC Token:
KNC is its utility token for various applications in the ecosystem. It is an ERC-20 token.
The market cap of KNC tokens is currently $869.18 million. Its circulating supply is 177.81 million KNC and the total supply is also the same.
The token can be purchased on crypto exchanges Binance, OKX, Currency.com, FTX and CoinTiger.
Also read: Why is TRON (TRX) Crypto High in Price?
bottom line:
There are 9,738 KNC token holders supported by Trust Wallet, MetaMask and Binance Chain Wallet.
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