© Reuters. This DeFi Crypto Shot Up 31% Last Week Even As Bitcoin, Ethereum, Dogecoin Struggled To Hold Their Own
Kyber Network Crystal v2 (KNC) was the top gainer last week as it soared by nearly 31%, outstripping gains of major coins like (CRYPTO: BTC), (CRYPTO: ETH), and (CRYPTO: DOGE).
| 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% |
See Also: How To Buy Kyber Network (KNC)
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.
Do you know? KyberSwap has 100+ ecosystem partners, including 10 L1/L2 chains, leading players in their space (DeFi, lending, Metaverse, GameFi, etc) and top VCs and more. Maybe we need to do a master thread to run thru them all and why we’re bullish about all of them
— Kyber Network (@KyberNetwork) April 9, 2022
KyberSwap offers trading across ten networks such as ETH, (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.
@avalancheavax Rush Phase 2 Starts NOW on @KyberNetwork with $1M In Liquidity Mining Rewards
Starting from ~21st March 09:00 EDT
Duration: 4 months
Reward: ~$300K in $AVAX and ~$750K in $KNC incentives
More details:
https://t.co/FvTp3OL07s#AVAXBlog #AVAX #Kyber pic.twitter.com/q9svrcxjDq
— AVAX Blog (@avaxblog_) March 21, 2022
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 V3 on the Ethereum and Polygon network — this brings the most active DEX into the Kyber ambit.
This day just keeps getting better and better
For all ya’ll who’s been waiting, @Uniswap V3 is now routed through #KyberSwap @ethereum @0xPolygon Giving you degens the best rates, always
Swap now at the best rates on https://t.co/DuAhY5eI9O#DeFi #cryptocurrency pic.twitter.com/sgrxlhGHbJ
— Kyber Network (@KyberNetwork) April 7, 2022
Read Next: $100 Invested In Bitcoin During The 2021 Miami Conference Is Worth This Much Now
Photo courtesy: Kyber Swap
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