Kyber Network adds support for 0x, Augur, and Binance Coin

Decentralized exchange, Kyber Network recently announced that the platform will support trading of 0x, Augur, and Binance Coin. Kyber Network's official blog wrote:

The 0x (ZRX), Augur (REP), and Binance Coin (BNB) tokens are now available on KyberSwap.

These tokens are accessible through KyberSwap and other platforms that are tapping into our on-chain liquidity protocol.

This will benefit both Kyber Network and the new ethereum based tokens listed on it. The tokens will now have more liquidity and Kyber Network will benefit from fees collected from token swaps / trades. Investors of Kyber’s native token, KNC will benefit from the portion of fees burned. All of these tokens will be available for trade at the below stated time:

Listing date: September 22nd, 2018
Listing time: 9PM (GMT+8)

According to coinmarketcap, Kyber Network currently has 46 cryptocurrencies listed on its exchange. With the addition of above stated tokens, Kyber will now have 50 tokens listed on it. So, this will most likely increase the volume in the Kyber Network exchange platform.

The price of Kyber Network Crystal, the native token of Kyber Network went up a little after the announcement. Though it may be due to the overall positive trend of the cryptocurrency market. KNC is trading at around 41 cents at the time of writing this post.

Due to Ethereum network’s scalability problems, Kyber can’t do transactions as fast as it should. That’s probably why it has lost over 85% of its market value compared to its all time high. Kyber team is currently working on Gormos, Kyber’s own implementation of plasma. Team members have stated previously that it will be tweaked to meet the specific needs of Kyber for high speed transactions. Once Gormos is implemented, I expect Kyber’s price to rebound.

[Public Disclosure: This is a opinion based article not investment advice. The author owns some KNC tokens.]

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