Kyber Network news

Established in 2017, Singapore. Kyber is a decentralized liquidity network that anyone can tap into for a wide variety of inter-token use cases. CEO/founders - Loi Luu.

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Total amount of WBTC in the Kyber Network triples after being added to Compound

The total amount of Wrapped Bitcoin (WBTC) locked in the Kyber Network had almost tripled in a single day, DeFi Pulse reported. The sudden increase in WBTC reserves could have been a reaction to the news that the DeFi protocol Compound has added WBTC to its offerings. WBTC sees its activity triple on the Kyber Network Wrapped Bitcoin (WBTC), one of the most interesting tokenization projects on the Ethereum blockchain, has started gaining serious traction in the past couple of days. Launched in late 2018 by crypto custodian BitGo and decentralized liquidity pool Kyber Network, WBTC is the first ERC20 token with a 1:1 peg to Bitcoin. Created in order to open up more opportunities for decentralized exchanges, WBTC enabled the usage of Bitcoin by having use cases such as loans and token payments. With the Kyber Network being one of the two first merchants to distribute the token, it was the one that saw the most WBTC activity since its launch. However, the total amount of WBTC in the Kyber Network’s reserves tripled in a single day, going from 50 BTC on July 17 to 154 BTC on July 18. As the Kyber Network is an on-chain liquidity protocol, it means that the amount of BTC its users contributed to its reserves grew more than 200 percent in 24 hours. The total amount of @WrappedBTC ($WBTC) locked in @KyberNetwork has nearly TRIPLED over night. — DeFi Pulse 🍇 (@defipulse) July 17, 2019 Compound listing could have affected WBTC activity The huge increase in WBTC reserves left many Kyber Network users wondering what could have caused such a massive movement. While it’s hard to pinpoint the exact factors that led to this growth, several Twitter users suggested it could have been a short-term reaction to recent news regarding WBTC. On July 17, Compound, DeFi’s decentralized crypto lending protocol, announced that it has added WBTC to its offering. According to the company’s press release, the move comes after its users “overwhelmingly” voted to deploy WBTC on the Compound protocol. Robert Leshner, the CEO of Compound, said that WBTC was the best way to integrate Bitcoin in the Ethereum ecosystem. According to Yahoo Finance, the company realized it could be a valuable token after a large WBTC pool was created on Uniswap. This could be one of the reasons why the amount of WBTC in Kyber Network’s reserves tripled in less than 24 hours. However, after reaching a peak of 154 BTC, Kyber Network reserves seem to have emptied significantly, holding 53 BTC at press time. (Source: Defi Pulse) The company explained that it processed more than 130 WBTC between July 16 and 17, with more than 110 WBTC being on the sell-side. To add more details, Kyber processed more than 130 @WrappedBTC in the last 24 hours, with more than 110 wbtc on the sell side. This is a significant milestone that shows how much Kyber has improved the on-chain liquidity! — Kyber Network (@KyberNetwork) July 17, 2019 While this is a huge step forward for the network’s liquidity, we are yet to see whether such significant changes in WBTC reserves become a regular occurrence. The post Total amount of WBTC in the Kyber Network triples after being added to Compound appeared first on CryptoSlate.

Kyber Network Launches Non-Custodial Limit Orders

KyberSwap, a decentralized exchange (DEx) for digital assets, has rolled out non-custodial limit orders – a first for a decentralized exchange. Kyber is a feature-rich DEx that aims to give users the best trading experience possible while allowing users to keep custody of their assets. The exchange believes this will help prop up liquidity onRead MoreRead More. The post by Ashwath Balakrishnan appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
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Crypto Price Analysis & Overview June 25: Bitcoin, Ethereum, Ripple, Kyber Network, And Monero

Bitcoin The resistant found at $9,400 was broken quite effortlessly. What followed was resistance at $11,000 which is currently being tested. Meanwhile, the enthusiasm continues, eyeing resistance at around $11,800. From there, the path to $15,000 could be rather quick. It’s important to take into account that the support at $9,400 hasn’t been tested and since it was broken, we’ve entered a parabolic movement. Ethereum Against the USD, the resistance at $280 was breached and the price took off to $325 where it met this range’s resistance. Technically, it appears that this is the beginning of a reversal of the trend if the support at the $280 range holds. Against BTC, ETH is approaching the support around 0.027BTC and it’s being tested. If it fails, we are looking at support around 0.024BTC. The resistance in this range is at 0.03BTC. Ripple Against the USD, the attempt to break $0.50 since December failed. The cryptocurrency pulled back to the support of around $0.45. Against BTC, XRP returned to the floor in the range of 4000SAT which is a critical area of support. If it breaks below it, we might return to the low we haven’t seen since the correction in December 2017. Resistance in this range is at 4500SAT. Kyber Network Against the USD, the trend continues to rise and we can see a pattern of a symmetrical triangle which usually breaks up. The resistance in this range is at $0.28 and the support is at around $0.24. Against BTC, there was a new floor created around 2255SAT which is also the support at this range. The resistance here is found at 2700SAT. Monero Against the USD, Monero broke the resistance at $100 and is now testing the resistance in the $130 range. Support here is found at around $110 and it hasn’t been fully tested yet. Against Bitcoin, XMR holds relatively stable during the last month after the correction and the pullback from the levels at 0.013BTC to 0.01BTC, which is currently acting as a support. Resistance is found at 0.011BTC. The post Crypto Price Analysis & Overview June 25: Bitcoin, Ethereum, Ripple, Kyber Network, And Monero appeared first on CryptoPotato.

Kyber Network Price Analysis: HTC announcement compliments fundamental gains

The KNC token's price has benefited from a boost of speculative buying pressure following announcements that the Kyber network liquidity solution would be inbuilt to HTC EXODUS 1 token swap solutions. These gains come following a recent uptick in onchain network activity and a number of positive fundamental indicators, though short term technicals favor bears.
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Why Do We Need to Wrap Bitcoin?

BitGo, Kyber Network, MakerDAO, IDEX and many other crypto companies partnered to create a Bitcoin-backed Ethereum token, Wrapped Bitcoin. This token will represent BTC, 1 token equal to 1 BTC stored in the custody of BitGo. It could be used to trade BTC on DEXes, the whole administration will be via DAO, similar to Maker system

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What does it take to be part of the next wave of Bitcoin Billionaires? Tim Draper answers

As crypto ecosystem consistently redefines its new peak in terms of adoption, fiat investors and new players are seeking opportunities to be a part of the next wave of Bitcoin Billionaires. One of the early birds, Tim Draper leads this space in terms of making sizable investments and returns in Bitcoin. Having complete faith in Bitcoin’s […] The post What does it take to be part of the next wave of Bitcoin Billionaires? Tim Draper answers appeared first on AMBCrypto.

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Reminder: Bakkt is Launching Bitcoin Futures in the Coming Day

Bakkt is Finally Here That’s right, Bakkt is finally here. After months upon months of deliberation, hype, and odd regulatory setbacks, the cryptocurrency venture that has been backed by the New York Stock Exchange, Microsoft, and Starbucks is launching. Starting Monday, July 22nd, the exchange will be testing physically delivered Bitcoin futures, which will be one of the first product of its kind to be regulated in U.S. markets. It is currently unclear who will be testing the product, or in which way the contract and custody solution will be tested. But, this development marks a huge step in the right direction for the cryptocurrency market. Bakkt confirmed the launch date for its testing period at a recent summit that was held in the New York Stock Exchange, whose chief executive is wed to the head of Bakkt. Per first-hand recounts of those in attendance, the cryptocurrency startup has also confirmed that it will be fully launching its Bitcoin futures product by the end of Q3, should nothing go wrong during testing of course. A Catalyst for Bitcoin & Crypto Growth In a recent Fundstrat Global Advisors research note posted to Twitter, Sam Doctor of the market research firm explained his thoughts on the conference. Citing the buzz being emanated by the over 150 investors and institutions in attendance, Doctor argues that there is “institutional anticipation” for the exchange’s Bitcoin futures. He expounded: “As we have written before, Bakkt tackles many of the barriers to adoption for traditional investors seeking to expand their mandate to include crypto.” Doctor adds that “appears to be a critical mass of adopters ready to come on board on Day 1 of the Bakkt launch”, noting that the firm’s sales team is starting to ramp up discussions with everyone from brokers and market makers. He thus confirms that should the hype translate into actual investment, the long-expected launch of the Bitcoin product, which will give many institutions their first taste of so-called “physical” BTC, could be a “huge” catalyst for the growth of this already budding market. Institutions Are Buzzing Per Placeholder’s Chris Burniske, the venture capitalist author of industry primer “Crypto Asset”, the overall feel of the room was rather bullish. He wrote the following, making the case that Wall Street has its eye on the cryptocurrency space once again. All in all, the @Bakkt event signals great things for #bitcoin and #crypto at large, even if I did miss some of the funk of OG days.— Chris Burniske (@cburniske) July 18, 2019 Title Image Courtesy of Samson Creative Via Unsplash The post Reminder: Bakkt is Launching Bitcoin Futures in the Coming Day appeared first on Ethereum World News.
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