Kyber Network chart price action hasn’t been very special as of late. July 4th was when we saw it last break out, reaching values of $1.25/18627 satoshi followed by a brief spike of volume right after. A rather peculiar pattern that has been seen a couple of times in various pump and dump scams. Ever since, Kyber has pretty much flat lined, moving sideways for almost the entire duration of the month. The price reached $0.8038/10401 satoshi on July 31st, with another, slightly longer than the previous one, volume spike that happened around these days.
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August has been more of the same as the currency reached its monthly lows of $0.37/6177 satoshi on the 14th. Since then, Kyber remained flat lined with some signs indicating that a smaller recovery could be on its way. Currently, one KNC goes for $0.468103 USD, which is a 2.21% rise in the last 24 hours.
At the same time, its BTC value is 7191 satoshi, and it increased by measly 0.62% in the mentioned timeframe. Volume has petered of to 504 BTC and the market cap is sitting at $62,787,938, making Kyber Network the 97th most valuable cryptocurrency on the market.
This Ethereum based, decentralized protocol for instant exchange and conversion of digital assets that doesn’t utilize order books has been rather active throughout the month of August. After releasing a new website, developer portal and Kyber explainer to help people understand what they are building and how to use what they are building, they shifted their focus on growing the adoption and utilization of their Liquidity Network.
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The first step of this plan is expanding the list of tokens they let people exchange on the platform. The list of decentralized projects utilizing the Kyber ecosystem is growing constantly: Betoken, MoatFund, Easwap, Mossland and Galion. The much maligned Poloniex opening KNC trading pairs for BTC/ETH/USDT will help the market grow as well. A new office in Vietnam and expansion onto the Japanese market by launching a Japanese Twitter page/holding several workshops in the country were completed in early August. These weren’t the only community related activities that the team conducted as they visited Switzerland, Berlin and Korea to discuss various crypto ideas, including the Kyber Network.
Loi Luu, co-founder and CEO of the company, recently had an interview with Daily Bit that was released on their official Medium page. In this interview, he addressed several interesting questions regarding his background, Kyber Swap and Kyber Go and the project’s overall roadmap.
A part of this roadmap is Gormos, Kyber-native blockchain that will remove the latency that comes with operating on top of Ethereum and bring about improved scalability and applicability when compared to its competition.
The project has released a tech update on August 20th, looking to introduce the general community to the latest work that has been done on the Kyber Network. Significant improvements have been made on several fronts during the last two months, from UX/system improvements, increased liquidity by having more tokens listed, more secure authentication methods, and smart contract security. All in all, the project seems deeply dedicated to development and ecosystem upgrades. Full Gormos testnet launch is expected on Q2 of 2019 which should give us a clearer insight into Kyber Network’s potential and abilities.
