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Why Investors Should Pay Attention to Kyber Network

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The current cryptocurrency ecosystem isn’t nearly as well-connected as it should be. Some coins are very difficult to exchange, and others are very hard to find on any of the common centralized exchanges. This often leads to users going to services like Binance, but in an industry as innovative as the blockchain industry, some new methods have popped up that show promise.

Decentralized exchanges have been popping up everywhere, but Kyber Network has formulated a unique approach to the liquidity and volume problems that currently plague most of these exchanges.

Kyber Network’s Mission

The basic need for Kyber Network comes from the idea that the current evolution of the blockchain ecosystem is incomplete and there is much more that could (and should) be done. The regulations currently in place have made it difficult for centralized exchanges to effectively list new coins, and many crypto-enthusiasts end up stuck with a high variety of digital assets.

Centralization is generally something that the cryptocurrency industry would like to avoid. As we’ve seen in the last few years, many of the current trading exchanges have a ton of inefficiency, as well as security issues and some bureaucracy. This is where much of the need for decentralized exchanges has originated.

Kyber Network’s top innovation is the elimination of order books in favour of using large reserves. There are numerous reserves in place for each currency, which creates redundancy and reduces centralization. This also allows for instant exchanges, which is helpful since many of the top criticisms of decentralized exchanges was the latency issues that often manifest. Although to be clear, Kyber doesn’t refer to itself as a decentralized exchange, but does generally compete in the same space with them.

The Mechanics of Kyber Network

Kyber Network basically operates as an exchange that allows for the fluid transfer of tokens between individuals, allowing them to give and receive in different tokens. This is great when the person sending has Ethereum, and the person receiving wishes only to hold Stellar Lumens.

The way it works is there are reserve entities that hold large amounts of tokens and are compensated a small fee (or a spread) in exchange for providing liquidity to users.

KNC is the Kyber Network token, and it is generally charged to the reserve entities as a cost of doing business on the network. Each time an exchange occurs, a small transaction fee is charged to the reserve. Reserves make their money on the spreads, and then tokens are charged from the reserve managers.

Recent Performance

2018 has seen Kyber place a significant focus on partnerships and continuing to develop their trading breadth. They partnerships include exchanges and wallets that include OasisDEX, Peepeth, ETHIS, Etheremon, Secrypto, Midas Protocol Wallet and Weswap. Additionally, they are now on the final phase of the development of their platform, which includes supporting the trading of options and forwards contracts.

The KNC token has recently been added to Poloniex, but is trading around $0.38, which represents an approximate drop of 95% from it’s all-time high. It is around 20% above its all-time low, and this makes it a strong buying opportunity right now. KNC can be bought on Binance and a few other altcoin trading exchanges, and serves to be a strong bet if you believe in the mechanics of its trading exchange.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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Monero Price Analysis: XMR/USD Bulls Eyeing Explosive Move Out of Current Range Block

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  • XMR/USD is moving within a range block, having been stuck within for the past 5 weeks, subject to a breakout.
  • Buying pressure would likely be triggered above $115 and heavy sellers below $100. 

XMR/USD has been trading steadily for going on five weeks now, moving within a $15 range. The price has produced a bottom at the psychological $100 level. The top observed at $115. Therehas been a lack of excessive volatility observed in either direction, for the time being. This price behaviour is coming despite the breakout of a key supporting trend line. It had been providing comfort initially since mid-August, until the breach and retest between 7-11 October.

Monero Related News Flow

Noriel Roubini, also known as Dr Doom, recently further spread FUD within the market. This week, the economist via Twitter, was speaking on anonymity and how the FEDs are coming for Monero. “So much for privacy, anonymity & censorship resistance: there is NO anonymity in crypto. Law enforcement authorities prefer transactions on crypto because it is easier to trace transactions & who is behind them than in banks.  Wake up crypto zealots. & Feds will crack Monero too.”

This isn’t the first time the economist has expressed his strong dissatisfaction for the cryptocurrency market in general. Last month, he was speaking at a hearing to the U.S. Senate Committee on Banking. During this him testifying, he noted, “Crypto is the mother or father of all scams and bubbles.” He was very much doing his best to try and sound the alarms to the committee on the market in general.

Technical Review – XMR/USD

XMR/USD daily chart

As earlier mentioned, a range block has been formed within the past five weeks of trading. Given this current form, a breakout would be expected to be imminent. Looking via the daily chart view, for now it remains unclear, in terms of next direction. The move will likely be chunky, it is just as matter of where. What can be noted is that the current bottom of the range is observed at $100, any break lower here, would likely be a huge incentive for sellers.

Should a breach occur at the psychological $100 mark, a very forceful push lower would likely be seen. The next major area of support is observed down at $85-75 range, where a demand zone is sitting. This last came into action on 14th August, after heavy selling pressure hit XMR/USD from the back end of July. The price had dropped a whopping 48%, over that period, falling from around $149 down to $76 territory.

Looking to the upside, buyers would likely apply heavy pressure should a breakout be seen from the upper part of the mentioned range. This would be a breach of $115, opening the door for a retest of the breached ascending trend line. An initial target would be seen at $140, then further north, $145-150 range. This area is a known supply zone, XMR/USD has not been convincingly above here since June.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 50 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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Crypto Market Dumps $7.5 Billion Overnight; Altcoin Correction Hits TRX, ADA, BCH and XLM

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The global crypto market dumped $7.5 billion overnight, with the majority of the bleed-out coming from the altcoin market.

Optimism had been high for some time regarding a possible altcoin divergence, however with the overnight descent of most of the recent market gainers, it appears that such hopes were a little premature.

The dip wiped out a significant chunk of the recent gains made by Stellar (XLM), Bitcoin Cash (BCH), Cardano (ADA) and Tron (TRX) – all coins which had recorded healthy pumps in the previous month or so.

Tron (TRX) Price Correction

After a flurry of positive developments in recent months which appeared to translate to coin buys, the TRX valuation has now sunk 14.7% in the past seven days.

The coin sunk 5% in the previous 24-hour period, with most of the losses coming in a sudden flash dip which hit the entire market at around 09:00 UTC, Wednesday morning. The TRX price fell from $0.022508 down to $0.021366 – a new monthly low for the coin, but still safely above the quarterly low in the $0.017 range.

Cardano (ADA) Falls

Cardano was hit even harder on Wednesday morning, losing 6.5% in the flash dip which dropped ADA’s valuation from $0.075737 down to $0.070761.

Like Tron, Cardano’s weekly figures look even bleaker, with the coin price shipping 11.2% of its value in the past seven days. This comes after a month in which Coinbase speculation first boosted ADA’s numbers, and then kept the coin afloat during a stagnant market in early November.

Bitcoin Cash (BCH) Loses Hardfork Gains

The anticipation surrounding the nearing Bitcoin Cash hardfork pushed the coin price to +50% growth during the surge of early November. The previous seven days were less kind to BCH, as the coin sunk to +25% losses in its descent from $638.55 to $475.29.

The past 24-hours saw BCH lose 12.4% of its value, even as trade volume was sustained above the $1 billion level – more than twice that of XRP, and almost as much as Ethereum.

Stellar (XLM)

Like Cardano, Stellar is one of the three coins remaining in the batch of coins up for Coinbase consideration. In fact, Stellar appears to be the popular favourite to be listed next on the exchange, and the previous two weeks saw XLM gain 30% on its value as the Coinbase anticipation ramped up.

However Wednesday morning’s dip wiped 7% off the XLM valuation in just a few hours, sending the coin price from the $0.26 range back down to $0.247261. Stellar is now down 12.7% from its recent peak.

Bitcoin Comparison…

Bitcoin, meanwhile, has held its value better than the altcoins, losing just 1.25% in the previous day, and 3.8% in the previous week, and continues to trade safely within the narrow range established in Q2, 2018.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.4 stars on average, based on 88 rated postsGreg Thomson is a full-time crypto writer and digital nomad. He eats ICOs for breakfast and bleeds altcoins. Wherever he lays his public key is his home.




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Zcash Price Analysis: ZEC/USD Penetrating Vital Resistance, Which is Key for Greater Upside

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  • Zcash has remained elevated over the past few days, as a result of potential speculation across the social media space regarding a Coinbase listing.
  • ZEC/USD bulls must break down supply area heading into $140, to unlock chunky buying pressure.

ZEC/USD bulls have been pressing hard to break above the very stubborn resistance, which is seen just above the $140 price territory. For going on six sessions now, the price has failed to clear the above supply area. It is seen tracking from $138 up to $140. ZEC/USD has not been above this territory since 28th September. There has been much penetration of this, which very well could suggest a strong breakout to come.

Zcash Speculation

Efforts by Coinbase to expand its offering has raised speculation that ZEC may be due for consideration. As recently reported, the largest U.S exchange, announced the listing of Basic Attention Token (BAT) on its trading platform and apps. Elsewhere, they opened the doors for trading 0x (ZRX), which was the first ERC-20 token to have been listed on the platform. Given these moves, there has been continued speculation across the social media space regarding possible listing of Zcash along with the likes of Cardano (ADA), and Stellar (XLM).

Technical Review – ZEC/USD

ZEC/USD daily chart

The ZEC/USD bulls are having a hard time, as their rallies continue to be short-lived due to repetitive failure to breach key resistance. On each occasion the price has entered the detailed supply area, heading into $140, it has been sent back south by some force. It could very well be that ZEC/USD is moving within consolidation mode, after the chunky recent surge. The bulls had seen a decent run from October 31st. Gains seen within this period were a chunky 20%.

Support Levels

Looking to the downside, a decent level of daily support can be eyed just sub-$128. During the current form of consolidation eyed, this area has proven to be of use. Further south, eyes would be back on the breached pennant pattern. This is where ZEC/USD began its most recent forceful upside trend. The price had managed to catch some bidding at the lower part of the pattern to then see a breakout to the upside. A potential pullback to the pennant could see the price around $118.

Upside Targets

Should the market bulls manage to gather enough upside momentum, eyes will be on another retest of the supply heading into $140. A breach above will likely see the price heading for another supply zone, observed at $145. ZEC/USD last traded here on 28th September, before resuming its downward trend. Further north, the highs seen early September within the $160 territory. Lastly, any move above here, could likely see some strong buying pressure, with a fast move back into $200.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 50 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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