Kyber Network Surges After Integrating Uniswap V3

Kyber network surges after the latest integration of Uniswap V3 and Avalanche mining program launch so let’s read further in our latest cryptocurrency news today.

The KNC price rallied in excess of 50% after expanding access to different blockchain networks and a Uniswap V3 integration. The outlook for the projects in the DEFI sector started to improve in the past few months as a combination of global events which outlined the benefits of holding the funds outside of the traditional financial systems. One proejct which rallied over the past few months is Kyber Network which is a multi-chain crypto trading and liquditiy hub that aims to offer the users the best possible trading rates.

Kyber network surges on the announcement and bounced from $2.83 marking a 55.4% increase to hit an ATH of $4.04 amid a 253% spike in the 24-hour trading volume. The main reasons for building momentum of KNC include the integration of the support of ten separate blockchain networks and the launch of the liquditiy mining program with Avalanche as well as an expanding list of partnerships and the protocol integration whcih expanded the reach of Kyber Network.

One of the biggest factors that provide a boost to kyber Network is the protocol’s push to integrate with the top chains in the crypto ecosystem. KyberSwap which is the main decentralzied exchange interface on the network offers tradign across ten separate networks including ETH, Polygon, Avalanche, BNB Smart Chain, Arbitrum, Fantom, Oasis, Cronos. The interoperability became one of the main themes that drove growth not just in DEFI but in all sectors of the crypto economy because the ability to send the assets and data across multiple chains is a feature for the future of DEFI and the NFT sector.

With more chains coming online, the ability to access them via one protocol is a desirable feature that most crypto investors come to expect. Another significant development that helped attract even more attention and trading activity on the Kyber Network is the partnership with Avalanche Network and the Rush Phase 2 mining program. The incentive program kicked off in March and included a total of $1 million in rewards for the liquditiy providers.

Avalanche is one of the fastest-growing EVM compatible networks in the crypto ecosystem and helped to attract even more users and liquditiy to the Kyber Network users by offering low-fees alternatives to ETH. Another reason for the building momentum behind KNC is the addition of new partnerships and protocol integrations which are helping to spread reach on the network. Recently It was announced that KyberSwap integrated with Uniswap V3 and Polygon which will brign the most active decentralized exchange into the ecosystem.

The project revealed a new partnership with Bondex network and Kyber ventures and established a working relationship with the popular NFT racing game Pegacy.