https://ift.tt/3mKvk6X Price Prediction: Riding high on DeFi

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, is capturing the attention of the cryptocurrency community as it approaches the KyberDAO and Katalyst improvement, which will add staking features.

The price of KNC has risen by 7.89% in the last 24 hours. The total value of the cryptocurrency in circulation now stands at $138,795,619. As such it is regarded as the 403rd most expensive virtual currency globally as of January 1, 2022.

Kyber developments

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 asserts that it is actively looking to partner with top 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 biggest 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 will be 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.

Integrations

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, which is provided by Kyber Network.

But before delving into the Kyber price forecast, it would be important to first look at what Kyber is all about.

What is Kyber Network?

Kyber Network is an Ethereum based decentralized exchange. It is an on-chain liquidity protocol that 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 also 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 Network price historical data

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, Kyber price started skyrocketing following increased confidence in the network by investors. 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 which has 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.

KNC price prediction 2022 – 2025

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.

KNC price prediction by WalletInvestor (2022-2027)

Kyber Network price equal to 2.626 USD at 2022-01-01. If you buy Kyber Network for 100 dollars today, you will get a total of 38.080 KNC. Based on our forecasts, a long-term increase is expected, the price prognosis for 2026-04-25 is 9.200 US Dollars. Walletinvestors also predict that KNC will be trading at an average of $3.408 at the end of 2022.  With a 5-year investment, the revenue is expected to be around +250.34%. Your current $100 investment may be up to $350.34 in 2027.

KNC price prediction by CryptoGround (2022-2024)

According to Cryptoground, which uses an in-house deep learning (neural network) algorithm to perform price analysis for price prediction, the Kyber Network price is expected to hit $3.0654 before 2021. By 2022, KNC would increase in value by 53.35% and in 5 years, by 1,450.71% if the upward trajectory is sustained

KNC price prediction by TradingBeasts (2022-2025)

According to Trading Beasts, KNC’s price is forecast to trade at an average of $1.86039 by the end of 2021. It also predicts that the coin will hit a maximum price of $2.32548. Trading Beasts also predicts that the KNC price will be trading at an average price of $2.61915 by the end of December 2022.

The KNC price is forecast to hit a maximum price of above $4 by the end of 2023. If the current exponential growth in DeFi adoption continues to 2023, Kyber Network will see an increased surge of adopters, which will positively impact the price of KNC.

The price of KNC is forecasted to stagnate between $3 and $4 within 2024, and by the end of December, the coin will be trading at an average price of $3.82547.

Kyber Network price prediction 2025

KNC price is expected to break through the $4 resistance level, and in 2025 with Walletinvestor predicting that its price will go as high as $ 12.231 before the end of 2025.

2025 is seen as the do or die year for the coin, with most analysts expecting a rise or a fall like never before, depending on how the cryptocurrency landscape will be then.

Conclusion

KNC can be a good long-term investment by the current hype of DeFi use cases within the blockchain industry. According to the above cryptocurrency price prediction and technical analysis, the KNC price is expected to oscillate about $3 for quite a while before a breakout is confirmed. However, the price will depend on the USD price prediction since the KNC price prediction is made against the US dollar. 

Considering everything, the KNC price is forecast to continue with a steady but slow rise through to 2025, although it is inevitable to have some major retracements along the way.

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.

FAQs about Kyber

Will KNC reach $10?

KNC is expected to reach $10. As more developments, partnerships, and media highlights come in, KNC will likely reach $10 in the next 4–5 years.

Will KNC reach $50?

KNC will likely reach $50. However, this would depend solely on whether the team behind it continues to offer better updates in the crypto world.

What will KNC’s price be in 2025?

The price of KNC is expected to go as high as $12.231 before the end of 2025.

Where can I buy Kyber Network Tokens?

KNC token is listed on most of the major cryptocurrency exchanges, including Binance, Kucoin, and Coinbase, among others.

Advantageously, KNC coin is cheaper compared to Bitcoin price, which is the most expensive cryptocurrency in the crypto market, and crypto investors can purchase more.

Does Kyber Network allow the use of physical currency?

No, the protocol only allows the swapping of one ERC 20 token with another.

What is the difference between KNCL and KNC?

KNCL is the old coin of the Kyber Network, while KNC is the new coin of Kyber Network that was unveiled after an upgrade on the smart contract. At the moment, one KNCL is equal to one KCL meaning their prices are still similar. Old Kyber users can convert their KNCL tokens to KNC tokens at a ratio of 1:1.

Is Kyber Network a good investment?

Kyber Network has many use cases within the DeFi industry, and the cryptocurrency market and the KNC are speculated to maintain a bullish trend in the coming months and years as the popularity of DeFi continues to rise.

If one is not familiar with the coin, it is important 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 when it comes to market volatility.

Short-term traders will have to do some technical analysis to determine the correct market speculation depending on the past price action.

Where can I store my KNC coins?

After purchasing any digital coin, including KNC, one has to identify a secure wallet where one can store it. Since KNC is an ERC 20 cryptocurrency, it can be stored in any ETH compatible crypto wallet. Several cryptocurrency exchange wallets allow KNC.

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/or consultation with a qualified professional before making any investment decisions.