Are you into crypto? If so, then you've probably already heard about the Kyber Network Crystal token and the Kyber Network protocol.
In this Kyber Network price prediction article, we will analyze the Kyber Network Crystal (KNC) price history and learn more about the token's technical aspects and its use cases. We'll also take a look at other fundamental elements of the project such as the roadmap, team, and use cases that will help us make a Kyber Network price prediction. Sound interesting? Then keep reading to find out if Kyber Network deserves a spot in your portfolio!
Kyber Network Historical Price Analysis
Kyber Network released the tokens in 2017. The release was made in several steps. Firstly, a little more than 33% of the token supply (72,352,094.23 KNC) was released for so-called private sales in August 2017 with the price of $0.375. A month later, more tokens became available for the broader public via public sales, where 57,568,314 KNC more tokens became tradable thanks to Binance. The token price became a bit higher and was about $0.44.
Current Price, Market Cap, & Supply Details
At the moment of writing, the KNC price is $1.36 with a trading volume of $103,703,601.67. Currently, the KNC token is 85th in the rank of cryptocurrencies with the highest capitalization. Kyber Networks Crystal token capitalization is $274,500,016.10 at this moment, which looks quite impressive, doesn't it?
The KNC token hit the all-time high of $6.00 in 2018. The all-time low was reached in 2019 and was about $0.1135.
Kyber Network (KNC) Future Price Forecast Predictions
Even though it might be quite complicated to make a Kyber Network price prediction because it is difficult to predict prices for cryptocurrencies in general, this is actually related to the big market volatility and the big influence the traders have on assets price. However, it is still possible to make price predictions.
To do so, specialists can use various mathematical formulas and algorithms combined with the information about technical improvements or just technical news/ information about new campaigns.
Short Term Forecast
Long Term Forecast
*This price prediction is based on the data collected from various sources meant strictly for educational purposes only and not taken as investment advice. Users should do their own research before investing.
Kyber Network Price Prediction 2021
According to the price analysis and the calculations, the price of 1 KNC (Kyber Network Crystal) could reach almost $1.7 by the end of 2021.
Kyber Network Price Prediction 2022
By the end of 2022, the KNC price could go up by about 112% and reach about $3.
Kyber Network Price Prediction 2025
In 4 years from now, the KNC price will become almost $5, according to the price predictions and KNC price trends.
Is Kyber Network a Good Investment?
When making investments, you should always bear in mind there are some risks involved. Prices on cryptocurrencies are quite volatile, which is good if you want to make some money fast. However, it is always better to buy or sell assets you know well, and you can predict the price. Kyber Network Crystal is a utility token, which is being used on protocol for specific needs and is not one the most popular coin for gaining profits.
Nevertheless, according to some previous price fluctuations that took place in 2018, when the asset price went from $1,07 to $5,34 in about a month (December 2018- January 2018), it has shown a growth of almost 400%, the KNC token price can indeed grow quickly.
How to Buy Kyber Network (KNC)?
Kyber Network Crystal is quite a popular token, so you can find it in popular exchanges like Binance, Coinbase, OKEx, Kraken, Uniswap, and others. You can easily see the list of exchanges supporting KNC on coingecko.
In this article, you can learn more about how to buy various cryptocurrencies.
You can also buy KNC by using this Changelly exchange widget! It makes buying KNC super easy and fuss-free
More Information About KNC
What is Kyber Network?
Kyber Network is a protocol that lets users perform crypto swaps in a decentralized manner. The protocol is built on Ethereum, and it is a great way to exchange ETH and ERC20 tokens instantly and without a hassle. Kyber Network was initially built for Ethereum, but any smart contract-based blockchain can use it.
What is so great about a decentralized exchange? Well, first of all, users are in control of their crypto. Also, there is no such thing as a partially filled order, which is quite common for centralized exchanges.
Kyber Protocol has its own liquidity pool that contains various cryptocurrencies accumulated from various diverse sources to provide liquidity. Kyber liquidity protocol can be integrated into any application to enable token swaps without the need for intermediaries.
Currently, it is one of the most popular and used decentralized liquidity protocols in the world. Kyber's liquidity system lives entirely on the blockchain, allowing different blockchain apps to easily integrate the protocol as part of the token exchange, payments, asset management, etc.
Kyber protocol also makes sure to propose the best rates by collecting liquidity from more than 40 liquidity sources. All operations are on-chain, which means fully transparent and verifiable on the blockchain.
Now when you know a little more about the Kyber Protocol, it is time to get an idea of what the KNC (Kyber Network Crystal) is. Kyber's native token, Kyber Network Crystals (KNC), is named after Star Wars' crystals used to power lightsabers. Kyber Network Crystal is a utility token built on Ethereum. The KNC token is an essential part of the Kyber Network ecosystem, as it could be thought of as a link between various stakeholders in the network.
Backup managers use KNC tokens to manage the reserve on the network. On every trade, the network charges a small commission in KNC. The commissions are partly used to cover transaction costs and to reward third parties who provide the network with trading volumes. After the proportional number of KNC is spent on these two articles, the remaining tokens are burned.
The holders of KNC can also participate in the ecosystem by voting, which will bring them staking rewards in Ethereum. Moreover, the tokens can be used for payments on the Monolith and Crypto.com apps, for payments on the Kyber Swag Store, for trading on various DeFi platforms, and even more.
Kyber Network Crystal (KNC) is an ERC20 token, which can be stored in a lot of wallets, for example, Ledger, Metamask, Trezor, Trust Wallet, Argent, and many other wallets supporting ERC20 tokens.
The Kyber Network developers have launched a framework that aims to simplify the creation of an on-chain marketplace with professional liquidity providers, which is called KyberPRO.
According to their statement, KyberPRO provides a liquidity system, tools, documentation, and tech support to facilitate entry into DeFi for professional market makers. According to the team, this might also bring value and bigger liquidity to the industry.
In order to do that, there must be a specific structure because the order book traditionally used by CEX (centralized exchanges) on the blockchain is ineffective, and automated market makers (AMM) are not suitable, the developers are sure.
They say that the KyberPRO is “a comprehensive platform for professionals that allows you to easily connect to the network and conduct profitable market activities with minimal knowledge of smart contracts.”
In June, the Kyber Network developers carried out an update to Katalyst, so now users of the KNC token have the opportunity to stake.
Kyber Network began its development in 2017 and is built on top of the Ethereum blockchain.
The Kyber Network team is quite impressive: it includes Loy Luu, Yaron Welner, and Victor Tran. Loy Luu created Oyente, the first open-source Ethereum-based contract security analyzer, and co-founded SmartPool, a decentralized mining pool. Yaron Welner has been active in the Ethereum bug search program, and Tran is also the lead developer for SmartPool.
According to the official project's website, the company currently has over 50 employees. Most of them are in Vietnam or Singapore, and one of the Kyber Network's advisors is Vitalik Buterin.
Taking into consideration all the abovementioned information, the Kyber Network Crystal and the Kyber Network protocol definitely are worth looking at, especially if you are looking for a safe and fast way to exchange crypto, you are into Dapps, and if you are an Ethereum supporter. Kyber Network developers are also always looking for ways to improve the protocol, make it better in terms of usability, and accessible for a broader audience.
In my opinion, the vision behind the network is a crucial thing when it comes to ecosystem approval and adoption. Making the protocol easier to use, reducing the fees, etc. helps a lot, and there are a lot of supporters of Kyber Network and KNC token.
This way, if you know some things about the exchanges and how they work, you will definitely find the Kyber Network protocol worthy of your attention because of its advantages. However, if you do not use the protocol or, for example, do not want to use the KNC token for voting, swaps, or purchasing, you might not be that interested in it. If you are only looking for a fast profit, you might want to look for more speculative and volatile assets to trade.