This bull rally is likely due to the increasingly adopted Kyber Network protocols across multiple platforms, the successful advertising campaign and the announcement of the Katalyst and KyberDAO protocols.
With their release (7th July 2020), not only will the token see slight deflationary pressure (appreciation of token value) from burning tokens, but also the opportunity for users to stake their KNC tokens in order to vote on Kyber Network’s actions. Staking will also be rewarded with the ETH collected from gas fees, further increasing the attractiveness of owning KNC tokens.
The long and short of it, KNC has further up to go. I am going long with a 100% target from here. Additionally, I will stake KNC and collect ETH along the way.
Published at Sat, 04 Jul 2020 23:58:33 +0000