Kyber Network (KNC) Price Jumps Over 50% in Saturday Breakout
Kyber Network (KNC), a decentralized exchange protocol, surged over 50% on Saturday to $0.40, a price last seen in November. The breakout comes on the back of more than a month of gains following the release of the project’s 2019 roadmap at the end of January.
We have published a post where we share our 3 Long Term Objectives and our 2019 plans:
1. Formalizing Kyber as a permissionless liquidity protocol
2. Growing the decentralized economy
3. Creating a sustainable governance/treasury system for the communityhttps://t.co/S0M1nLrzL0
— Kyber Network (@KyberNetwork) January 25, 2019
In the blog post, the Kyber team dove into three major areas that it plans to capitalize on in 2019, including expanding its permissionless liquidity protocol to be implemented on any smart contract on any blockchain.
“While Kyber started out on the Ethereum blockchain, there are a number of other blockchains with distinctively different features and with different types of ecosystems emerging. We believe Kyber will become a key backbone in these ecosystems as well,” reads the post.
Toward that end, Kyber plans to support the growth of the underlying decentralized economy in the following areas: end-user swaps, NFT and commerce payments, exchanges and trading, decentralized finance and liquidity provision. Notably, Kyber’s current ecosystem includes Enjin, Coinbase, Trust Wallet, Opera, Set and several other major projects.
Kyber is also focused on pushing forward decentralization in its own community and, ultimately, the team hopes to allow the community to make the decisions related to protocol direction, implementation and treasury spending.
Following today’s high-volume breakout, KNC is now up around 101% in the past week and 230% in the past month, giving it a $60.1 million market cap and making it the 7th largest constituent in the AltDex Exchange Token Index (ALTEXC).
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.