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In 2017, Loi Luu, Yaron Velner, and Victor Tran founded the Kyber network. In its ICO, it raised approximately $50 million, the equivalent of 200,000 ETH. And a total supply of 226 million KNC was bought and sold to crypto investors.
The company, however, burned more than 10 million tokens in October 2017. Which reduced the supply of KNC crypto to almost 215 million.
The Kyber network went live in February 2018 on the Ethereum blockchain. But has been listed by ATAIX since 2020.
Kyber Network is a crypto project focused on decentralized finance. It allows its users to exchange crypto with each other.
It can be used both by individual crypto traders and by merchants. While crypto traders will use it to trade. Merchants can use it to accept payments and different cryptos of their choice.
Most times, the average crypto project has its own native cryptocurrency. The native crypto for the kyber network is the KNC crypto. Which is used to run the network.
In most crypto projects, you need native crypto to use the platform. Without it, you can't use the platforms. But Kyber eliminates this problem. Making it possible for users to switch between crypto tokens.
The Kyber network works in a very easy way. If you understand what liquidity pools are, understanding how Kyber networks work will be easy for you.
The network allows crypto users to exchange crypto tokens in quick decentralized ways. Tokens are mostly ETH and most ERC-20 tokens. The network can do this because it uses a liquidity pool. These pools contain different kinds of crypto tokens.
And with the network, you don't need to create an account or even register. Which differentiates them from centralized exchanges.
Certain components of the network make these decentralized switches between tokens possible. They are:
These are codes that give the framework for the exchange of tokens.
These help to provide liquidity to the Kyber network. They are of three types. Namely:
This component is responsible for taking liquidity out of the network. You can call them traders. They include:
Alt: KNC crypto prices from Sep 2021 – June 2022. Source
Alt: KNC Price from Nov 2020 to May 2022. Source
Kyber network is expected to have significant changes in its price. Both in the short term and also in the long run. This is very common with KNC crypto as you can see from the images above.
Kyber Network has gained the attention of investors and analysts. And while some expect a bearish future, others stay bullish.
Let's look in detail at the price prediction of KNC coins.
It is believed that before 2022 runs out, the price of KNC coins will soar. This will make the coin a very good investment for 2022. While some analysts expect it to level around $3. Others believe it could hit $4.34.
In 2025, it's expected that KNC coins will soar above $6.61. And with the blockchain being adopted by lots of people, it might hit $7.37 before 2025 ends.
DigitalCoinsPrice believes that KNC coins will rise progressively between 2028 and 2031. In 2028, it expects the coin to hit $6.12. And end the year with a price of $7.66.
The site believes Kyber Network will hit $8.56 in 2030. But will surpass that in 2031. Reaching a price of $9.83, with a potential increase to rise again.
KNC crypto is the Kyber Network native cryptocurrency. Which runs the decentralized exchange that is powered by the Ethereum blockchain.
Following the integration of Uniswap V3, the price of Kyber Network Crystals is rising. This is because it gives crypto users better rates for crypto transactions.
As of the second week of June, KNC crypto was at $1.93. With the potential to soar. The Kyber Network price is expected to rise more than that. It's expected to surpass $4 and eventually hit $4.34. Although some analysts believe it might not hit $3.
Currently, in the crypto world, KNC crypto is one of the digital assets actively traded. It is in fact one of the most popular crypto platforms. Since it has a positive outlook to soar in price, it's a good investment for 2022.
The highest price of KNC was $6.45, which was as far back as 2018.
All-Time Low $1.11 72.7% Jun 22, 2021 (12 months).
The lowest price of KNC is $1.11, and that was in June 2021.