Kyber Network (KNC) soars after integrating with Uniswap v3 and Avalanche Rush Phase 2

The three factors KNC is acquiring momentum include the integration support for ten different blockchain networks, the launch a liquidity mining program (AVAX), and a broadening list partnerships and protocol combinations that increase the reach of Kyber Network.

KNC/USDT 1-day chart. Source: TradingView

Kyber Network (KNC) is a multi-chain cryptocurrency trading platform and liquidity hub that has seen a great deal of interest in the last couple of months. It intends to offer users with the very best trading rates.

Cointelegraph Markets Pro and TradingView information show that KNC costs rose 55.4% after rebounding from a low of $2.83 in April 6 and then struck an all-time high at $4.04 on April 8, following a 253% boost in its 24-hour trading volume.

As an outcome of a series of global occasions, the outlook for projects in decentralized financing (DeFi), has actually improved in current months.

Kyber Network now offers multi-chain assistance

Since the capability to transfer assets and data across numerous chains is essential for the future of DeFi, NFT sector, and the Metaverse, interoperability has actually been a key theme driving development.

Avalanche, a fast-growing Ethereum Virtual Machine compatible network (EVM), has helped to increase users and liquidity to the Kyber Network users. It offers an affordable alternative to Ethereum and has assisted to draw more users to it.

KyberSwap is the primary decentralized exchange platform on the network. It now allows trading across 10 networks including Ethereum (ETH), Avalanche (MATIC), BNB Smart Chain [BSC], Aurora, Arbitrum (FTM), Oasis, Fantom( FTM), Oasis, ROSE), Velas/VLX and Cronos (CRO).

KNC joins Avalanche Rush Phase 2.

Lots of crypto and DeFi investors will be accustomed to the fact that they can access numerous chains online as more chains appear.

A considerable development that has contributed to increased trading activity on the Kyber Network, is the partnership between the Avalanche Network (and the Avalanche Rush Phase 2 liquidity miner program).

The protocols push for integration with top cryptocurrency chains is among the most crucial factors that has actually given Kyber Network a boost.

The liquidity reward program was introduced on March 21st and consists of $1 million in benefits to liquidity companies.

Combination of protocols and brand-new collaborations

VORTECS( tm), data from Cointelegraph Markets Pro, started to detect a bullish outlook on KNC on April 6, prior to the current rate boost.

The chart reveals that the VORTECS( tm), Score for KNC spiked to the green on April 6, and reached a peak of 75 approximately nine hours later on, prior to the price rose 55.4% in the following 2 days.

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The third factor behind the KNCs momentum is the addition of significant protocol integrations and brand-new collaborations that continue to grow the networks reach.

KyberSwap announced on April 7 that it had incorporated with Uniswap v3 (Ethernet and Polygon networks), bringing the most active decentralized currency into the KyberSwap community.

The task also developed a partnership with Bondex, the professional network, and Kyber Ventures (the investment arm of Kyber Network), to establish a working relationship.

VORTECS( tm), Score (green), vs. KNC Price. Source: Cointelegraph Markets Pro

Cointelegraphs special VORTECS( tm), Score is an algorithmic contrast between existing and historic market conditions. It is originated from a combination data points, consisting of trading volume, market belief and current price movements, along with Twitter activity.

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