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The Reasons Behind Kyber Network (KNC) Latest Surge

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Kyber Network
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The Cryptocurrency marketspace has always intrigued investors and traders around the world, ever since it traction as a legitimate investment option. Unlike other investment markets like stock, indices etc., market sentiment takes precedence over all other factors responsible for price movements. A favorable investor sentiment towards a particular coin almost always results in a price surge. There can be many factors for this sudden spike of value, including positive news like new partnerships and acquisitions as well as introducing newer technology. One such project that has seen a recent rise in its value is Kyber Network, which experienced a massive surge of almost 70% at the time of writing. This is in stark contrast with the Cryptocurrency giants like Bitcoin, which experienced a slump below $9000 recently.

A little About the Kyber Network:

The Kyber network concept was formalized to tackle the prevalent issues plaguing centralized exchanges like Coinbase by working on the blockchain. Unlike centralized exchanges which are very vulnerable to cyber crimes and data-breaches have been growing in popularity ever since the Cryptocurrency market took off. Hence the Kyber network team aims at addressing these issues by introducing a decentralized platform for trading.

First introduced in November 2017, Kyber Network became the first and only decentralized exchanges on the planet. It garnered a lot of attention from crypto-traders since its introduction because of the myriad of new and unique features it offered. As of 26/04/2018, Kyber Network is ranked 59th according to coinmarketcap, with a formidable market cap of $362,882,598 USD. The KNC tokens are currently valued at $2.71 USD and have 32 active trading markets across several exchanges worldwide.

How Kyber Network sets itself Apart:

As mentioned before, Kyber network was one of the first truly decentralized exchanges in operation, which uses an on-chain protocol for allowing instantaneous exchanges and conversion of digital assets. The Kyber Network team heavily stresses on the fact that they are decentralized in the truest sense, making it different from the likes of centralized exchanges like Binance, Bittrex, and Poloniex. The Kyber Network has some salient features which set it apart from the aforementioned exchanges, which are mentioned below.

  1. Better Security: Centralised exchanges have been subject to cyber attacks and other forms of data-breaches which resulted in a lot of funds being compromised over the years. One of the most reported hacks of recent times has to be the January incident at Coincheck. Hackers accessed users funds and stole an excess of 500 million dollars worth of funds from Coinbase’s database. Centralised exchanges are thus always prone to cyber crimes like these, and Kyber Network seems to have a solution for this. Kyber network is almost immune to the ill-effects of a data breach because of its decentralized nature. This means that the Kyber network is not in the control of any one individual or entity, which almost removes the danger associated with organized cyber crimes.
  2. Decentralised Nature: The decentralized nature of the Kyber network gives more power to the crypto-investing circle through the use of smart contracts. Users can now be in full control over their own funds to facilitate trustless transactions. The funds are also not stored on the exchange directly, making the threat of cybercrimes less dangerous.
  3. Proxy Payments: Proxy Payments are one of the salient features Kyber Network has to offer, which allows a user to make payments to any individual or entity by using any token. To achieve this, Kyber Network’s API allows for easy currency conversion which also makes it easier for merchants to operate on a regular basis. The inner workings of proxy payments are elaborated in the project’s whitepaper.
  4. Free and instantaneous: Unlike the majority of crypto-exchanges around the world, Kyber network does not charge any fees for a transaction apart from a nominal Gas fee. The network which runs on the Ethereum blockchain also allows instantaneous transactions without the need for registrations or prior deposits. In the modern fast-paced world, many traders and investors have praised Kyber Network’s initiative.

Current Market Scenario for Kyber Network

Over the last couple of days, the Kyber network has experienced rapid gains as a result of favorable news concerning the company. As mentioned before, Kyber Network’s value surged by almost 73% at the time of writing (26/04/2018), with its value slated to go higher in the near future. Two particular events are responsible for this, which are explained in brief below.

  1. Bithumb Integration: South Korean Exchange Bithumb recently announced yesterday that Kyber Network will be listed on the exchange, sparking massive interest in the investor community. Bithumb has a very good reputation in the crypto trading community and is expected to help Kyber Network to almost double their adoption among the general public. The impact on price was almost instantly noticeable, with the token price jumping from a high of $2.18 yesterday to $3.01 USD at the time of writing.
  2. Partnership with “My EtherWallet”: Important news affecting Kyber Network’s valuation is the recent news of the partnership with My Ether Wallet. Both teams announced that they are introducing a new token swap feature earlier this week. Although My EtherWallet has experienced security breaches recently, the news comes as a positive to increase Kyber network’s adoption by the global crypto-community.

Final Thoughts:

Among several projects based on the Ethereum blockchain, Kyber network definitely stands out as one that can stand the test of time. The Kyber network is backed by a team of technically sound and versatile group of developers, who focus on transparency. With a growing number of exchanges starting to include Kyber network tokens in their listings, the future prospects for this project look bright and encouraging.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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