Kyber network (KNC) is the biggest gainer in crypto today, having gained over 70% in the last few hours. This massive pump comes after it was announced that KNC will be listed on Bithumb.
Price pumps are always expected whenever a crypto is listed on a new exchange, but Bithumb is a bit special. That’s because before they list any coin, Bithumb conducts thorough research to ensure that whatever coin or token they list is viable. They avoid getting into legal confrontations with the South Korean government, confrontations that would cost the company not just money, but also its reputation. In essence, the fact that they have decided to list Kyber network means that they have researched on it, and found it to be worthy of listing. That’s a strong validation to the fundamental value of the Kyber network as a decentralized exchange. So what gives Kyber network its strong fundamental value?
One of its fundamental strengths comes from the fact that centralized exchanges are increasingly vulnerable to hacking attacks. This year, we have seen two major exchanges hacked and users lose their coins. Decentralized exchanges are clearly the future, and Kyber network (KNC) is one of the best among them. As more people switch to decentralized exchanges, you can expect the value of this exchange to grow, and so will the value of Kyber network (KNC) token.
On top of that, Kyber network has one thing that other decentralized exchanges don’t have, and that’s liquidity, mainly because it allows for an instant exchange of digital assets. The liquidity is also provided by entities that are contracted by Kyber network, though there are protocols in place to ensure that this liquidity is provided in a trustless environment.
This places Kyber network way ahead of other decentralized exchanges, whose growth is highly stifled by issues of low liquidity. As a matter of fact, liquidity is the number one reason why decentralized exchanges have not picked up much, despite there being a strong case for their emergence. Kyber network is also working on cross chain trading as part of their future development roadmap. If they manage to achieve this, the levels of liquidity on this platform will explode, and so will the value of the Kyber network (KNC) token.
With all these factors in play, it’s not hard to see why Bithumb has added KNC to their platform, and the current pump will most likely to continue. That’s because Kyber network not only has the hallmarks of a good coin, but also the fact that most coins that have been listed on Bithumb continue to rise after the initial pump. A good example of that is Storm coin, which continued to rise after the initial pump on listing on Bithumb. That’s because Bithumb only lists the very best coins and tokens. Clearly, Kyber network (KNC) is a coin on the move. This is one crypto that will head to the moon this year, if it manages to work on its roadmap.