Kyber Network’s KNC Jumps 16.5% in Two Days, Eyeing a 60% Rally
A 60% KNC Rally Expected
The Kyber Network’s asset surged by about 16.25 percent from its session low at $1.05, a rebound that appeared as Bitcoin’s rally paused below its year-to-date high around $12,000. In KNC’s case, the Triangle has formed following an explosive 178 percent price rally.
Here, a successful breakout should lead the KNC price higher, albeit by as much as the height of the flagpole that led to the formation of the Flag. “Token holders who participate in this governance process will be paid in ETH generated from exchange fees which will also be redirected towards reserve rebates for Fed Price Reserve and a KNC burn (65%, 30%, 5%, respectively),” read an analysis by Messari on the Kyber Network’s new economic model.