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Wednesday, August 10, 2022

Kyber Network Sees A Gain Of 57%

Kyber Network is a famed multi-chain decentralized exchange and aggregation platform which is designed to provide DeFi applications at the best rates available. With the volatility in the crypto market reigning supreme, fear, doubt, and uncertainty have been running rampant.

This does make it a lot more challenging for any single project to rise above the noise and go ahead and post positive price gains but there have certainly been quite a few projects which have been showing a lot of strength during the current downturn.

Kyber Network Sees Massive Gain

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According to data received from TradingView and Cointelegraph Markets Pro, it has been highlighted that ever since touching a bottom of $1.18 on the 6th of January, the price of Kyber Capital has gone ahead and rallied by 57% to a daily high of $1.87 on the 27th of January despite the wider weakness prevalent in the entire crypto market.

There have been quite a few reasons for this very strong showing from KNC which includes the release of Kyber 3.0, which also includes a rebrand to KyberSwap, wherein the expanding list of DEXs integrated with the entire ecosystem of Kyber. 

The biggest driving momentum for the Kyber Network has been the release of Kyber 3.0. The launch also included quite a rebranding of the exchange interface of the platform to KyberSwap, along with integration with six different blockchain networks, which further includes Polygon, Ethereum, Binance Smart Chain, Fantom, Avalanche, and Cronos. 

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Another reason for the bullish momentum which has been driving Kyber Network higher has been the continued integration of new decentralized exchange protocols into the ecosystem of Kyber. Most recently, KyberSwap went ahead and integrated pools from most of the multiple DEX protocols which include ShibaSwap, DeFi Swap, and EmpirDEX. 

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