The Kyber Network Crystal price jumped close to its all-time high (ATH) as investors focused on the network’s growth. KNC has risen by more than 15% in the past 24 hours, making it one of the best performing cryptocurrencies. It is trading at $5.57, which is about 412% above the lowest level in June 2021 last year.
Kyber Network is a leading blockchain in the Decentralized Finance (DeFi) industry. Its goal is to provide liquidity across multiple chains such as Avalanche, Solana, and Ethereum. KNC, its native token, has done well in the past few weeks as investors jump to liquidity tokens such as Synthetix Network and ThorChain.
The Kyber Network price is rising as investors focus on the recent integration with BitTorrent Chain (BTTC). As a result of this partnership, KyberSwap announced that it would give more than $1 million in rewards. This is one of the reasons why the KNC price is surging.
The second reason is that there will be an AMA session with the Oasis Protocol team. A lucky winner will get KNC worth $500. This also explains why the Oasis Network price is surging as well. Further, Kyber has been in a giveaway mood in the past few weeks. This month alone, the developers have given out funds through their partnership with Avalanche Rush and BENQI. It also gave out $50,000 in rewards after KyberSwap partnered with Avalanche. It also moved to
Kyber Network Crystal price prediction
The KNC price has been in a strong bullish trend in the past few months. On Monday, the coin managed to pass the important resistance level at $4.3379, which was the highest level in April 2021. In addition, it is now approaching its all-time high of $6.05. As a result, the coin is trading above the 25-day and 50-day exponential moving averages (EMA). Further, it has formed what looks like a cup and handle pattern.
Therefore, there is a likelihood that the Kyber price will keep rising as bulls target the all-time high. A move above this level will signal that there are more buyers in the market. Conversely, a drop below $4.33 will invalidate the bullish view.