Unfortunately I seem to have run out of image copy/paste into chart. However my analysis of KNC using data from Nansen.ai is that KNC has some way down still. On the 15th of May whales dumped the token and now it is no longer one of their major holdings. With this in mind I dont expect it to sustain the current relief pump. My best guess is that we will see the bottom be touched a number of times from here.
Overall since September 21th the trend on Kyber V2 is down in terms of weekly DEX trades.
In terms of transactions the majority of transactiosn are to and from CEX exchanges. Unfortunately with the exception of FTX there is currently a higher inflow of tokens towards exchanges than outflow.
Overall I am confident that long term (Possibly when FED returns to neutral policy), KNC will thrive as a token as certain levels of interest have been touched creating a fostering ground for future value. However, in the short term, I expect the bottom of to be touched at least one more time. Overall whales have not started buyign back the tokens they disposed of on the 15th of May.
Overall since September 21th the trend on Kyber V2 is down in terms of weekly DEX trades.
In terms of transactions the majority of transactiosn are to and from CEX exchanges. Unfortunately with the exception of FTX there is currently a higher inflow of tokens towards exchanges than outflow.
Overall I am confident that long term (Possibly when FED returns to neutral policy), KNC will thrive as a token as certain levels of interest have been touched creating a fostering ground for future value. However, in the short term, I expect the bottom of to be touched at least one more time. Overall whales have not started buyign back the tokens they disposed of on the 15th of May.
I am not a financial advisor.
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