Also Kyber Networks is having all the fundamentals on his side.
2 months ago we had highlighted a dip in volumes from mid-July onwards across the crypto space including centralized exchanges. Although this trend continued throughout August and can be partly attributable to ETH’s 50% price drop, i was surprised to see various wallets and DeFi dapps keep their growth momentum and end up increasing their ETH and USD . After burning the first million KNC in May, KNC holders had another reason to celebrate this month with the second millionth KNC burnt on the 16th of August. Last month new Kyber integrations build up on this stack by introducing fixed interest rate borrowing and lending options, as well as new marketplaces for loans.
Kyber Network is an on-chain liquidity protocol that lets token holders contribute liquidity (called reserves). The Kyber Network offers multiple types of reserves, each of which exists as a smart contract controlled by whoever deployed it. For example, Kyber Network maintains its own reserve.