Kyber Network Price Outshines Bitcoin, Ethereum, Dogecoin

This DeFi Crypto Shot Up 31% Last Week Even As Bitcoin, Ethereum, Dogecoin Struggled To Hold Their Own

Zinger Key Points

A token associated with Kyber Network was the top gainer last week
KNC soared more than 31% last week, more than Bitcoin, Ethereum, and Dogecoin
KyberSwap, the DEX aggregator linked with the project, has been forging new partnerships of late
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Kyber Network Crystal v2 (KNC) was the top gainer last week as it soared by nearly 31%, outstripping gains of major coins like Bitcoin BTC/USD, Ethereum ETH/USD, and Dogecoin DOGE/USD.

Top Gainers of Week Ending April 11, 2022 (Data via CoinMarketCap)
Cryptocurrency	7-Day % Change (+/-)	All-Time High Value/Date Reached	% Change (+/-) Since All-Time High
Kyber Network Crystal v2 (KNC)	+31%	$4.45 On Apr 10, 2022	-5.65%
Monero (XMR)	+9.8%	$517.62 On May. 7, 2021	-54%
Neutrino USD Network (SKL)	+6%	$1.20 On Feb. 8, 2020	-18.6%
STEPN (GMT)	+4.1%	$3.11 On April 1, 2022	-21.3%
Dogecoin (DOGE)	+1.4%	$0.74 On May 8, 2021	-80.1%

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Why KNC Was On Top Last Week?

Kyber Network is a decentralized finance(DeFi) project built on top of the Ethereum blockchain.

KyberSwap, the main protocol in Kyber Network’s liquidity hub and decentralized exchange (DEX) aggregator, has now over 100 ecosystem partners including 10 Layer-1 and Layer-2 chains. KNC has gained from this spurt in partnerships.

KyberSwap offers trading across ten networks such as ETH, Avalanche (AVAX), Polygon (MATIC), Aurora (AURORA), and Binance Smart Chain (BSC).

In March, Kyber Network’s partnership with Avalanche Network and the Avalanche Rush Phase 2 liquidity mining program helped it gain increased attention and trading activity.

Since the Avalanche partnership was announced, KNC’s trading volume has shot up 493% from $99.99 million to $593.1 million until press time.
Last week, Kyber said it was integrating Uniswap V3 on the Ethereum and Polygon network — this brings the most active DEX into the Kyber ambit.

Photo courtesy: Kyber Swap

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