Kyber Network (KNC) soars after integrating with Uniswap v3 and Avalanche Rush Phase 2

2 years ago

The outlook for projects successful the decentralized concern (DeFi) assemblage has begun to amended successful caller months arsenic a operation of planetary events person highlighted the benefits of holding funds extracurricular of the accepted fiscal systems.

One task that has rallied implicit the past fewer months is Kyber Network (KNC), a multi-chain cryptocurrency trading and liquidity hub that aims to connection users the champion trading rates.

Data from Cointelegraph Markets Pro and TradingView shows that aft bouncing disconnected a debased of $2.83 connected April 6, the terms of KNC jumped 55.4% to deed an all-time precocious of $4.04 connected April 8 amid a 253% spike successful its 24-hour trading volume.

Three reasons for the gathering momentum of KNC see the integration of enactment for 10 abstracted blockchain networks, the motorboat of a liquidity mining programme with Avalanche (AVAX) and an expanding database of partnerships and protocol integrations that grow the scope of the Kyber Network.

Kyber Network adds multi-chain support

One of the biggest factors providing a boost to Kyber Network is the protocol's propulsion to integrate with the apical chains crossed the cryptocurrency ecosystem.

KyberSwap, the main decentralized speech interface connected the network, present offers trading crossed 10 abstracted networks, including Ethereum (ETH), Avalanche, Polygon (MATIC), BNB Smart Chain (BSC), Aurora, Arbitrum, Fantom (FTM), Oasis (ROSE), Velas (VLX) and Cronos (CRO).

Interoperability has go 1 of the main themes driving maturation not conscionable successful DeFi, but successful each sectors of the crypto system due to the fact that the quality to nonstop assets and information crossed aggregate chains is simply a indispensable diagnostic successful the aboriginal of DeFi, the NFT assemblage the Metaverse.

As much chains travel online, the quality to entree them done 1 protocol is simply a desirable diagnostic that galore crypto and DeFi investors volition travel to expect.

KNC joins Avalanche Rush Phase 2

Another important improvement that has helped pull accrued attraction and trading enactment connected the Kyber Network is the project's concern with the Avalanche Network and the Avalanche Rush Phase 2 liquidity mining program.

The liquidity inducement programme kicked disconnected connected March 21 and it includes a full of $1 cardinal successful rewards for liquidity providers.

Avalanche is 1 of the fastest-growing Ethereum Virtual Machine (EVM) compatible networks successful the cryptocurrency ecosystem and it has helped to pull much users and liquidity to the Kyber Network users by offering a low-fee alternate to Ethereum.

New partnerships and protocol integrations

A 3rd crushed for the gathering momentum down KNC is the continued summation of caller partnerships and large protocol integrations that are helping to dispersed the scope of the network.

On April 7, it was announced that KyberSwap integrated with Uniswap v3 connected the Ethereum and Polygon network, bringing the astir progressive decentralized speech into the KyberSwap ecosystem.

The task has besides revealed a caller concern with the Bondex nonrecreational web and Kyber Ventures, the concern limb of the Kyber Network, established a moving narration with Pegacy, a fashionable NFT racing game.

VORTECS™ information from Cointelegraph Markets Pro began to observe a bullish outlook for KNC connected April 6, anterior to the caller terms rise.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic examination of humanities and existent marketplace conditions derived from a operation of information points including marketplace sentiment, trading volume, caller terms movements and Twitter activity.

As seen successful the illustration above, the VORTECS™ Score for KNC spiked into the greenish connected April 6 and deed a precocious of 75 astir 9 hours earlier the terms accrued 55.4% implicit the adjacent 2 days.

The views and opinions expressed present are solely those of the writer and bash not needfully bespeak the views of Cointelegraph.com. Every concern and trading determination involves risk, you should behaviour your ain probe erstwhile making a decision.

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