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.
I love the anyalisis and i agree with everything, except i have a hunch that the boom will be a few days shorted and happen mid July, thoughts? also Im planing on entering at 1.5 what about you
HEILMA0
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@michaelpet1726, Thanks for your comment. Alt Coins have just broken out of a multi year trend (Crypto100-BTC) so I believe there to be more momentum in the rally. On the other hand, Alt Coins are very correlated with BTCs performance at the moment so any further KNC rally may be subject to BTCs performance over the next few days. BTC is nearing the edge of a wedge (starting at April end) so we will have to see which way it goes.
I just published the below on the BTC pattern mentioned above so you can see.
Great analysis and commentary. I am on coinbase and hold KNC. Will coinbase notify me regarding staking? What do i have to do? Thanks for everything and stay safe
HEILMA0
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@Miamicane1, Coinbase will likely NOT alert you so you should have a look at this page for more details on what to do for voting: