Bitcoin

Almost 6% of the Kyber token reserves were used in one day

The equivalent of 16.7 million KNC tokens from Kyber Network, the decentralized financing liquidity protocol (DeFi), were blocked when unplugging Only 24 hours after starting the service.

The event was reported by Kyber co-founder Loi Luu, who announced on Twitter that the deployment had already reached nearly 10.5 million KNC.

The announcement of the launch led to a significant increase in the months leading up to the deployment, and the KNC price has more than tripled against the dollar since late April. However, KNC has seen a 10% drop in price since its peak a week ago.

Almost 6% of the Kyber token reserves were used in one day
Almost 6% of the Kyber token reserves were used in one day

KNC / BTC since the start

KNC / BTC pair since launch: Coin360

The Kyber network also showed an increase in activity before the start of the assignmentand a record number of daily KNC transactions were carried out last week.

With almost 182 million KNC in circulation Stakeout blocked 5.7% of the total market. Kyber currently offers stakes of 0.05%, according to stakingrewards.com.

The increasing popularity of use as a passive source of income has meant that large portions of the current supply of crypto assets have been blocked more than half of the current offer of nine projects to be staked out.

More than 80% of Kava (KAVA) and Tezos (XTZ) use, with Synthetix Network (SNX) and Cosmos (ATOM) presenting more than 70%. More than 49% of deliveries from at least 11 projects are blocked.

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