The explosion of interest in non-fungible tokens over the past two months has taken some of the attention away from the decentralized finance sector but this doesn’t mean that some projects are not seeing bullish breakouts.
One project that has continued to work on expandin the capabilities of its ecosystem is the Kyber Network (KNC), an on-chain liquidity protocol that aggregates liquidity from multiple sources to enable instant token swaps on any decentralized application (DApp).
KNC/USDT 4-hour chart. Source: TradingView
Data from Cointelegraph Markets and TradingView shows that the price of KNC surged 50% over the past 24-hours, climbing from a low of $1.93 on March 16 to an intraday high of $2.89 on March 16.
Optimism grows for Kyber 3.0
The main driving force behind the growing optimism in the Kyber community is the upcoming launch of Kyber 3.0 which will “transition Kyber from a single protocol into a hub of purpose-driven liquidity protocols that are catered to different DeFi use cases.”
The launch will be implemented in two phases whichTitle: Kyber Network (KNC) gains 40% as its 3.0 network launch approaches
Sourced From: cointelegraph.com/news/kyber-network-knc-gains-40-as-its-3-0-network-launch-approaches
Published Date: Wed, 17 Mar 2021 21:30:00 +0000