KNC – Kyber Network's internal coin, gained 17% after the company announced its token would be listed on Coinbase Pro. Although it was not until February 24 that users were allowed to top up the KNC token to Coinbase, the currency witnessed an increase from $ 0.46 to $ 0.54 in an hour.
Kyber Network announced the listing of Coinbase Pro
Kyber Network – a decentralized protocol that makes cryptocurrency swaps easy and efficient, has announced that their native token – Kyber Network Coin (KNC), will be traded on Coinbase Pro. The exchange will start accepting KNC deposits on February 24 for at least 12 hours before allowing full transactions, according to a post on Coinbase's blog.
When KNC's supply is strong enough on the platform, the transaction will be implemented in 4 phases of transfer-only (only transfer), post-only (only posted in the order book, but not yet implemented), limit-only ( limit orders only), and complete deals.
“Trading will start at or after 9 am PST on the next day if liquidity conditions are met,” the company said in the notice.
KNC price increased by 17%
This news has pushed KNC prices higher after a long period of fluctuations. KNC has recorded a jump from $ 0.46 to $ 0.56 in less than an hour, but since then the price has consolidated at $ 0.49. The pump today has brought KNC an annual profit of nearly 200%.
Coinbase Pro's listing of KNC was revealed days after the network celebrated its most successful month. Kyber reached some of the highest milestones of all time in January, including the largest number of unique wallet addresses, the total number of transactions and the largest volume of USD and ETH transactions to date.
Decentralized financial rating firm DeFi Pulse ranked Kyber as the 11th largest DeFi and the third largest decentralized exchange (DEX) in the market.
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