Kyber Network has become one of the crowning glories of the blockchain industry and crypto trade. Its native token, the KNC, has seen exponential growth in popularity since the network was launched back in 2017. Kyber’s native token, KNC, captured the attention of the cryptocurrency community after the KyberDAO and Katalyst improvement, which added staking features.
Kyber Network is the first tool that allows anyone to instantly swap tokens without the need of a third party, like a centralized exchange. The unique architecture of Kyber is designed to be developer-friendly, which enables the protocol to be easily integrated with apps and other blockchain-based protocols. With Vitalik Buterin as one of their advisors, one can expect more developments.
Expect more growth from Kyber in 2022 according to their social media announcements.
Today’s Kyber Network Crystal v2 price is $1.92 with a 24-hour trading volume of $39,159,814. Kyber Network Crystal v2 is up 1.90% in the last 24 hours. The current CoinMarketCap ranking is #105, with a live market cap of $340,789,303. It has a circulating supply of 177,809,350 KNC coins and the max. supply is not available.
Read also: Bitcoin, Binance Coin, Loopring, and Kyber Network Daily Price Analyses – 26 April Roundup
What is Kyber Network?
Kyber Network is an Ethereum-based decentralized exchange. An on-chain liquidity protocol allows users to perform a decentralized token swap. It connects the cryptocurrency ecosystem and provides a means for instant, seamless and secure transactions.
Kyber Protocol users can instantly convert or exchange any cryptocurrency through the platform.
The protocol was established on the core values of instant settlements, ease of integration for on-chain operation, and plastic agnostics.
As a liquidity protocol, some of its unique liquidity features include as many cryptocurrencies as possible, interoperability allowing cross-chain transactions, and scalability.
The network is decentralized, meaning it does not store any data or crypto. The users remain in full custody of their crypto assets. This reduces risks since the security of the crypto assets is determined by how secure the crypto wallets used by the users are.
Since its launch, Kyber Network has consistently received positive reviews due to the ease of trading and that transactions are settled instantly. There has also been an increase in the number of decentralized applications (dApps) and crypto wallets turning to the Kyber network for liquidity is on the rise.
The main goal of Kyber Network is to build an ecosystem where any cryptocurrency can be used anywhere around the world.
What is KNC?
KNC (Kyber Network Crystal) is the native cryptocurrency of the Kyber Network. Besides being traded on various exchanges where it is listed, it is also used for governance in the platform. Every token holder gets the chance to vote on issues affecting the protocol.
KNC connects the various participants within the Kyber ecosystem by linking liquidity providers with those looking for liquidity.
It is primarily used for collecting transaction fees, and a certain percentage of the tokens collected through fees is burned to avoid KNC inflation. It also connects the Kyber Network to various crypto exchanges, dApps, and wallets.
Kyber Network founders
Kyber Network was founded by Yaron Velner, Victor Tran, and Loi Luu. And its headquarters is in Singapore.
Vitalik Buterin, the Ethereum blockchain founder, is one of the Kyber Network advisors.
Before Kyber, Luu was a blockchain advisor and researcher for various blockchains. He is also the founder of Oyente, the first open-source security evaluator for Ethereum smart contracts.
Kyber future outlook: Will Kyber Network see more success?
The Kyber Network has shown no signs of slowing down. They ensure capital efficiency and aggregate better liquidity mining on other protocols in the blockchain world. Besides being the biggest liquidity platform in the Ethereum DeFi space, Kyber also ensures it offers the best liquidity incentives.
Kyber Network Partnerships
Kyber Network is the first tool that allows anyone to instantly swap tokens without the need of a third-party, like a centralized exchange. The unique architecture of Kyber is designed to be developer-friendly, which enables the protocol to be easily integrated with apps and other blockchain-based protocols.
Kyber Network asserts that it is actively looking to partner with complete blockchain protocols. On November 5, 2021, they partnered with Unbound Finance (a decentralized, cross-chain liquidity protocol) on a $1 million liquidity mining campaign on the Ethereum protocol. At the moment, there are UND/USDC and UND/KNC pools on Kyber’s KyberSwap. Liquidity miners can farm and unlock their share of the rewards by putting any amount of liquidity into the eligible UND-KNC and UND-USDC pools on the KyberSwap on Ethereum.
On November 14, 2021, Elpis Battle (EPA), an open-world RPG including the play-to-earn model, chose KyberSwap for enhanced token liquidity on the Binance Smart Chain with $1 million-plus in liquidity mining rewards. This would allow the best liquidity for Elpis’s token, $EBA. In addition, it would also allow $EPA liquidity pools to maximize capital through KyberSwap’s dynamic fees.
On December 13, 2021, Kyber Network revealed that it partnered with Sipher (one of the most extensive GameFi campaigns based on the Ethereum blockchain) on a $50 million liquidity mining campaign to offer the best liquidity and mining rate for the $SIPHER token. Sipher traders will experience a much better rate than those trading on individual decentralized exchanges and incentivized. Sipher traders would enjoy better reliability and security.
Kyber network in the media
The Kyber network’s growth has been highlighted in the media. The Kyber network’s ad banner was shown recently during an English Premiership match between Watford and Westham.
Furthermore, various news outlets, such as Forbes and Decrypt, also highlighted the growth of the Kyber network. Not only that, Kyber’s innovative features were recently covered by CryptoRank, Dapp.com, The Block, etc. Nonetheless, these media highlights will surely drive more adoption of the Kyber blockchain network.
According to the Kyber team, KyberSwap is now integrated with top trading-analytics platforms such as DEXTools, Kattana Terminal, Coin98 Wallet, and DEX aggregators-1inch, Paraswap, 0x API, Matcha, and Slingshot.
Addresses linking up with the platform have hiked by 438% since January 2020. More extensive usage of DEX reported record trading volumes during March, which most likely led to the growth in usage of the Kyber platform. In this price prediction article, we shall look at Kyber Network price prediction by various market analysts and speculators.
We can also recall that one of the largest decentralized crypto exchanges, KyberSwap, has integrated the Chainlink oracles for price feeds on its platform. The on-chain oracle network would complement the previous asset pricing model on the exchange provided by Kyber Network.
But before delving into the Kyber price forecast, it would be necessary to first look at what Kyber is all about.
Kyber Network Price History
Kyber Network Crystal was first listed on exchanges for trading in 2017, and its first price hike occurred at the beginning of 2018. At the time, the price jumped from $1 to around $4.
The price, however, took a downturn in the remainder of 2018 and through 2019 to trade at below $0.50. The following year, 2020, saw the coin make considerable market swings which kept its price well above $0.50.
In 2021, the Kyber price started skyrocketing following investors’ increased confidence in the network. The prices surged from $1 to above $3 in April before retracing to trade around $1 between mid-June and mid-July.
Starting July 21, the price started another bullish trend that continued to date.
Towards the end of August, Kyber Network, through a decentralized autonomous Organization, the KyberDAO, performed an upgrade resulting in the Kyber Network Crystal v2. The old token symbol was changed to KNCL, which stands for Kyber Network Crystal Legacy, while the new one retained the original KNC symbol.
Figure 1. Historical price chart of the KNCL coin by Coinmarketcap
Currently, the KNC is trading above $2 with a live market cap of $351,375,415 and a circulating supply of 173,204,591.59 KNC.
What affects KNC price?
Over the recent past, several things have taken place, and they have had a direct or indirect effect on the KNC and KNCL tokens’ prices.
- First, there is the increased use of the Kyber Network Protocol within the decentralized finance (DeFi), which has boosted KNC adoption.
- Then there is the upgrade and migration of KNC to a new token contract led to a hard fork with the KNC symbol being retained for the new token and KNCL symbol being assigned for the previous Kyber Network token.
- Kyber has positioned itself among the top cryptocurrencies. Still, it is yet to maximum exploit that potential, although there is speculation that the recent chronology of events may have advanced effects on the token’s price.
Kyber Technical Analysis
The 4-hour chart above provides a short-term technical analysis for Kyber Network Crystal using the super-trend indicator. As seen on the chart, the super-trend indicator is above the closing price of Kyber KNC, signaling a sell signal. The RSI also corroborates the price movement indicated by the super-trend. Kyber is currently undervalued.
The MACD indicator also shows the fast-moving average line crossing below the slow-moving average, resulting in the temporary disappearance of the histogram – that’s an indication of a new downtrend.
Kyber Price Predictions by Authority Sites
According to Wallet Investor, the Kyber Network Crystal v2 is considered to be a cryptocurrency with the potential for good returns in the long run. As per their Kyber Price Prediction, the token is expected to reach a maximum possible price of $4.337 in 2023. Over a longer timeframe, their prediction remains bullish for KNC, as a market price of $13.364 is expected by 2027 – that’s a 605% price rise.
PricePrediction is also optimistic about investment in Kyber Network Crystal v2 and based on their Kyber price prediction, a maximum price of $3.28 and an average trading price of $2.91 is expected in 2023. By 2026, KNC is projected to be valued in a range of $9 to $11, with the average forecast price being $9.54. Further bullish price movements are expected in the future. By 2030, KNC could approach the $50 mark, and its average price is predicted to be $40.49. The minimum Kyber Network Crystal v2 price for 2030 is $39.06.
The Kyber price prediction from TradingBeasts provides a somewhat steady price increase for the asset over the coming years. By December 2022, KNC could end the year with an estimated maximum price of $2.4486, a minimum value of $1.66506, and an average price of $1.95889. The maximum possible price of the asset in 2023 is projected to reach $3.02. In 2024, KNC is expected to experience a price consolidation between $2.8057 to $3.0509. The maximum, minimum, and average expected prices of Kyber Network Crystal v2 for 2025 are $4.2689, $2.2279, and $3.2242.
Kyber Price Prediction 2022
Our Kyber price prediction for 2022 expects a minimum price of $2.33, an average price of $2.50, and a maximum price of $2.65.
Kyber Price Prediction 2023
According to our Kyber Price Prediction 2023, we expect a minimum price of $2.53, an average price of $2.75 and towards the end of 2023, a maximum price of $2.99 is anticipated.
Kyber Price Prediction 2024
The market price of KNC could experience pullbacks in 2024. As per our KNC price prediction, a minimum market value of $2.33 is predicted. The coin’s expected average market price is set at $2.64, and its maximum price could reach $3.01.
Kyber Price Prediction 2025
In 2025, we expect a bullish market for Kyber Network Crystal v2, and our predicted minimum price is $3.28. Our Kyber Price Prediction for 2025 puts the token’s average price at $3.64. Its maximum price for the year is expected to be above the $4 mark.
Kyber Price Prediction 2026
In line with the general thought from crypto experts, a new market cycle is expected in 2026, and price pullbacks could follow suit for most cryptos. Our KNC price prediction for 2026 expects a drop in the market value of the token. Its forecasted minimum, average and maximum values are $3.10, $3.33, and $3.70.
Kyber Price Prediction 2027
A minimum price of $3.65 is expected at the beginning of 2027. We predict a bullish run through the year, with Kyber Network Crystal v2 reaching a maximum price of $5.43. The coin’s predicted average trading value for 2027 is $4.19.
Kyber Price prediction 2028 and beyond
According to our Kyber price prediction, KNC is predicted to ride with the bulls from 2028 to 2030. The token’s predicted price range for 2028 is between $5.54 to $6.96. Going forward, the maximum price points for 2029 and 2030 are $8.10 and $9.11. Additionally, the minimum forecasted prices within the same period are $7.44 and $8.39.
The price predictions for Kyber Crystal Network are quite positive, offering investors a token potentially worthy of their portfolios. With further developments in the Kyber ecosystem, coupled with integration with more DEX tools, we could see the token garnering more adoption and reaching new milestones soon.
In addition, Kyber aims to increase the variety of token pairs and enhance liquidity and liquidity pools. The team behind it has also revealed that it would adapt to upcoming DeFi and GameFi industry trends by investing and collaborating with popular projects. If these are implemented, we should see growth in the price of KNC in the next 8 years.
Due to its numerous benefits over other DEX platforms, there is no doubt that Kyber Network Crystal (KNC) is positioned for growth. Due to recent developments and media highlights, 2022 would be a brighter year for the Kyber network. The platform has revealed that it will aggressively increase awareness to drive user adoption in the crypto world.
In addition, Kyber aims to increase the variety of token pairs and enhance liquidity and liquidity pools. The team behind it has also revealed that it would adapt to upcoming DeFi and GameFi industry trends by investing and collaborating with popular projects. If these are implemented, we should see growth in the price of KNC in the next 5 years.
Suppose one is not familiar with the coin. In that case, it is essential to seek investment advice from experts before investing to determine the amount of money to invest, the crypto exchange for investing with, and for how long. Cryptocurrency markets are very different from traditional markets, especially regarding market volatility.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and consultation with a qualified professional before making any investment decisions.