Kyber Price Prediction 2021-2025: riding high on DeFi

Kyber Network has become one of the crowning glories of the blockchain industry and crypto trade. Its native token, the KNC, has seen exponential growth in popularity since the network was launched back in 2017. Kyber’s native token, KNC, is capturing the attention of the cryptocurrency community as it approaches the KyberDAO and Katalyst improvement, which will add staking features.

Addresses linking up with the platform have hiked by 438% since January 2020. More extensive usage of DEX reported record trading volumes during March, which most likely led to the growth in usage of the Kyber platform In this price prediction article, we shall look at Kyber Network price prediction by various market analysts and speculators.

We can also recall that one of the largest decentralized crypto exchanges, KyberSwap, has integrated the Chainlink oracles for price feeds on its platform. The on-chain oracle network would complement the previous asset pricing model on the exchange, which is provided by Kyber Network.

But before delving into the Kyber price forecast, it would be important to first look at what Kyber is all about.

What is Kyber Network?

Kyber Network is an Ethereum based decentralized exchange. It is an on-chain liquidity protocol that allows users to perform a decentralized token swap. It connects the cryptocurrency ecosystem and provides a means for instant, seamless and secure transactions.

Kyber Protocol users can instantly convert or exchange any cryptocurrency through the platform. 

The protocol was established on the core values of instant settlements, ease of integration for on-chain operation, and plastic agnostics.

As a liquidity protocol, some of its unique liquidity features include as many cryptocurrencies as possible, interoperability allowing cross-chain transactions, and scalability.

The network is also decentralized, meaning it does not store any data or crypto. The users remain in full custody of their crypto assets. This reduces risks since the security of the crypto assets is determined by how secure the crypto wallets used by the users are.

Since its launch, Kyber Network has consistently received positive reviews due to the ease of trading and that transactions are settled instantly. There has also been an increase in the number of decentralized applications (dApps) and crypto wallets turning to the Kyber network for liquidity is on the rise.

The main goal of Kyber Network is to build an ecosystem where any cryptocurrency can be used anywhere around the world.

What is KNC?

KNC (Kyber Network Crystal) is the native cryptocurrency of the Kyber Network. Besides being traded on various exchanges where it is listed, it is also used for governance in the platform. Every token holder gets the chance to vote on issues affecting the protocol.

KNC connects the various participants within the Kyber ecosystem by linking liquidity providers with those looking for liquidity.

It is primarily used for collecting transaction fees, and a certain percentage of the tokens collected through fees is burned to avoid KNC inflation. It also connects the Kyber Network to various crypto exchanges, dApps, and wallets.

Kyber Network founders

Kyber Network was founded by Yaron Velner, Victor Tran, and Loi Luu. And its headquarters is in Singapore.

Vitalik Buterin, the Ethereum blockchain founder, is one of the Kyber Network advisors.

Before Kyber, Luu was a blockchain advisor and researcher for various blockchains. He is also the founder of Oyente, the first open-source security evaluator for Ethereum smart contracts.

Kyber Network price historical data

Kyber Network Crystal was first listed on exchanges for trading in 2017, and its first price hike occurred at the beginning of 2018. At the time, the price jumped from $1 to around $4.

The price, however, took a downturn in the remainder of 2018 and through 2019 to trade at below $0.50. The following year, 2020, saw the coin make considerable market swings which kept its price well above $0.50.

In 2021, Kyber price started skyrocketing following increased confidence in the network by investors. The prices surged from $1 to above $3 in April before retracing to trade around $1 between mid-June and mid-July.

Starting July 21, the price started another bullish trend which has continued to date.

Towards the end of August, Kyber Network, through a decentralized autonomous Organization, the KyberDAO, performed an upgrade resulting in the Kyber Network Crystal v2. The old token symbol was changed to KNCL, which stands for Kyber Network Crystal Legacy, while the new one retained the original KNC symbol.

Figure 1. Historical price chart of the KNCL coin by Coinmarketcap

Figure 2. Historical price chart of the KNC by Coinmarketcap

Currently, the KNC is trading above $2 with a live market cap of $351,375,415 and a circulating supply of 173,204,591.59 KNC.

Kyber Network price prediction 2021 – 2025

Over the recent past, several things have taken place, and they have had a direct or indirect effect on the KNC and KNCL tokens’ price. 

First, there is the increased use of the Kyber Network Protocol within the decentralized finance (DeFi), which has boosted KNC adoption.

Then there is the upgrade and migration of KNC to a new token contract led to a hard fork with the KNC symbol being retained for the new token and KNCL symbol being assigned for the previous Kyber Network token.

Kyber has positioned itself among the top cryptocurrencies. Still, it is yet to maximum exploit that potential, although there is speculation that the recent chronology of events may have advanced effects on the token’s price.

Kyber Network Price prediction 2021

2021 has seen Kyber’s price skyrocket to above $3.6 before retracing to gather more momentum, as is witnessed now after thorough technical analysis Analysts speculate that the KNC price will maintain the current bullish trend and most likely continue trading between $3 and $4 before the end of the year.

According to WalletInvestors, for example, Kyber price is expected to trade at a minimum price of $3.081  and an average price of $2.425 at the end of December 2021.

Figure 3. Kyber Network price forecast for 2021 by Walletinvestors

According to Cryptoground, which uses an in-house deep learning (neural network) algorithm to perform price analysis for price prediction, the Kyber Network price is expected to hit $3.0654 before 2021.

Figure 4. KNC price prediction for 2021 by Cryptoground

According to Trading Beasts, KNC price is forecast to trade at an average of $1.86039 by the end of 2021. It also predicts that the coin will hit a maximum price of $2.32548.

Figure 5. Kyber Network Crystal price prediction for 2021 by Tradingbeasts

Kyber Network price prediction 2022

Kyber price is forecast to continue with its bullish trend through 2022.

Walletinvestors predict that Kyber price will be trading at an average of $3.408 at the end of 2022. 

On the other hand, Trading Beasts predicts that the KNC price will be trading at an average price of $2.61915 by the end of December 2022.

Figure 6. Kyber Network price prediction for 2022 by Tradingbeasts

Kyber Network price forecast 2023

According to most market analysts, the KNC price is forecast to hit a maximum price of above $4 by the end of 2023. If the current exponential growth in DeFi adoption continues to 2023, Kyber Network will see an increased surge of adopters, which will positively impact the price of KNC.

Figure 7. Kyber Network forecast for 2023 by Tradingbeasts

Kyber Network price forecast 2024

The price of KNC is forecast to stagnate between $3 and $4 within 2024, with the likes of Trading Beasts forecasting that by the end of December, the coin will be trading at an average price of $3.82547.

Figure 8. KNC price prediction for 2024 by Tradingbeasts

Kyber Network price prediction 2025

KNC price is expected to break through the $4 resistance level, and in 2025 with the likes of Walletinvestor predicting that its price will go as high as $ 12.231 before the end of 2025.

2025 is seen as the do or die year for the coin, with most analysts expecting a rise or a fall like never before, depending on how the cryptocurrency landscape will be then.

Conclusion

KNC can be a good long-term investment by the current hype of DeFi use cases within the blockchain industry. According to the above cryptocurrency price prediction and technical analysis, the KNC price is expected to oscillate about $3 for quite a while before a breakout is confirmed. However, the price will depend on the USD price prediction since the KNC price prediction is made against the US dollar. 

Considering everything, the KNC price is forecast to continue with a steady but slow rise through to 2025, although it is inevitable to have some major retracements along the way.

FAQs on Kyber Network

• Where can I buy KNC?

KNC token is listed on most of the major cryptocurrency exchanges, including Binance, Kucoin, and Coinbase, among others.

Advantageously, KNC coin is cheaper compared to Bitcoin price, which is the most expensive cryptocurrency in the crypto market, and crypto investors can purchase more.

• Does Kyber Network allow the use of physical currency?

No, the protocol only allows the swapping of one ERC 20 token with another.

• What is the difference between KNCL and KNC?

KNCL is the old coin of the Kyber Network, while KNC is the new coin of Kyber Network that was unveiled after an upgrade on the smart contract. At the moment, one KNCL is equal to one KCL meaning their prices are still similar. Old Kyber users can convert their KNCL tokens to KNC tokens at a ratio of 1:1.

• Is Kyber Network a good investment?

Kyber Network has many use cases within the DeFi industry, and the cryptocurrency market and the KNC are speculated to maintain a bullish trend in the coming months and years as the popularity of DeFi continues to rise.

If one is not familiar with the coin, it is important to seek investment advice from experts before investing to determine the amount of money to invest, the crypto exchange for investing with, and for how long. Cryptocurrency markets are very different from traditional markets, especially when it comes to market volatility.

Short-term traders will have to do some technical analysis to determine the correct market speculation depending on the past price action.

• Where can I store my KNC coins?

After purchasing any digital coin, including KNC, one has to identify a secure wallet where one can store it. Since KNC is an ERC 20 cryptocurrency, it can be stored in any ETH compatible crypto wallet. Several cryptocurrency exchange wallets allow KNC.