Analysis: KyberNetwork

KyberNetwork

Trustless. Instant. Liquid. Compatible.

1. What is it?

KyberNetwork is a new system which allows the exchange and conversion of digital assets.
They provide rich payment APIs and a new contract wallet that allow anyone to seamlessly receive payments from any token.
Users can also mitigate the risks of price fluctuations in the cryptocurrency world with our derivative trading.

(Source: https://kyber.network)

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2. FIT Test (F: Future updates; I: Innovation; T: Trends): FIT Test enables us to check the uniqueness, alignment with respect to the current trends and future update of the fundamentals of the corresponding cryptocurrency.

A) Innovations:

i) Trustless and Secure: KyberNetwork does not hold tokens owned by the users, all the transactions are executed via smart contracts, making KyberNetwork a trustless and hence, a secure exchange.

ii) Instant Trading: Exchange or convert requests are immediately executed. There’s no waiting time or confirmation time for a transaction. When a user deposits token ‘A’ to perform an exchange to receive token ‘B’, he receives token ‘B’ immediately. This is a great feature as it protects users against market volatility.

iii) On-Chain Exchange: This exchange runs on-chain, which means, it supports normal user accounts as well as smart contracts. This enables smart contracts to communicate with the exchange directly, without any third parties, to fulfill their transactions.

iv) Liquidity: Reserve Contributors provide liquidity which enables the exchange to perform instant trading.

B) Trends: Trustless Exchange, Instant Trading.

C) Future updates: 

i) KyberNetwork has announced 3 major partnership is last 2 weeks -Gifto, powered by Uplive, an innovative gifting protocol that allows content consumers to interact with and reward content creators directly; Aditus, a luxury access platform that bridges luxury merchants and crypto-affluents using blockchain and a research collaboration with Blockchain at Berkeley, a world-class academic institution to enhance the exchange implementation and business model.

ii) First Mainnet launch is expected during Q1, 2018. This will support trading between ETH and other tokens. Followed by this, Q2,2018 will observe arbitrary pair trading over the exchange.

iii) KyberNetwork during Q3, 2018 is expected to support trading of advanced financial instruments over the exchange.

iv) They also expect to perform cross-chain trading in early 2019.

 


3. Community:

Total funding raised: USD $60 million

B. Team: 

  1. Loi Luu, CEO & CoFounder
  2. Yaron Velner, CTO & CoFounder
  3. Victor Tran, Lead Engineer & CoFounder
  4. Joseph Lee, Lead Trading Platform
  5. Spyros Vrettos, Trading Analyst / Developer
  6. Lee Tsun Ngai, Head Of Business Development
  7. Phuong Vu, Designer
  8. Andrew Nguyen, Developer
  9. Gia Nguyen, Designer / Developer
  10. Tuan Nguyen, Developer
  11. Huy Tran, Developer
  12. Duc Tran, Developer
  13. Ilan Doron, Developer

C. Advisors:

  1. Wong Lee Hong
  2. Leng Hoe Lon
  3. Chionh Chye Kit
  4. Kenneth Oh
  5. Vitalik Buterin*
  6. Prateek Saxena
  7. Pandia Jiang

4. Unique Features:

  • Liquidity
  • Instant Trading
  • Advanced financial instruments to hedge market risks

5. Downside / Risks:

  • The team could have had a few dedicated marketing professionals.

6: Future: We already have several exchanges but KyberNetwork stands out. Instant trading and hedging market risks are the game changers in this volatile cryptocurrency market.

7: Technical Analysis: 

The prices have dipped after a quick surge. This is a perfect entry point for the investors who have a long-term return goal in their strategy. KyberNetwork’s business model is unique, they have a strong team to back their vision. There’s a good panel of advisors as well. Vitalik, the ethereum elite, sits on the panel. All in all, this is a must-have in a long-term portfolio.

  • Market Cap: $199,997,216 
  • Price: $1.49
  • OTE: 0.00008397-0.00008773 BTC
  • Volume(24h): $19,499,500
  • Circulating Supply:134,132,697/215,625,349

8: Comments:

KyberNetwork’s ICO was a successful one, More than 21,000 people have contributed to it. They show potential and ability to fulfill the claims they make in terms of milestones they have planned. In spite of the presence of many exchanges in the market, KyberNetwork would fare well because of factors like instant trading, liquidity and risk hedging. The venture looks profitable over a long run.

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Weekly Technical Analysis 26.08.2017

www.tradescrypt.com’s Weekly Technical Analysis gives investors important insights on fundamentally strong cryptocurrencies which include Bitcoin, Ethereum, Litecoin, Ripple and AntShares(NEO).  It’s a quick read for investors at the start of the week which presents necessary statistics which could prove vital for considering investment position and making decisions during the week.

1.Bitcoin:

BTC-analysis-26.08.17.png

In spite of the seller resistance, Bitcoin has managed to stay above the USD $4000 mark which seems as the newly established floor. Investors have got in on 23rd and 24th when the prices were just above USD $4000. Bitcoin is currently trading at USD $4300. Investors who want to get in must wait for a short dip which we expect to occur in a few days.

Following are the statistical conclusions drawn from this week’s technical analysis:

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Note: Prices have changed significantly. Once the new floor is set, we can calculate the OTE and the risk/reward ratio.

  • Market Cap: USD $71,638,083,124
  • Circulating Supply: 16,527,225
  • Volume(24h): USD $1,503,230,000

2. Ethereum:

ETH-Analysis-26.08.png

Ethereum is gradually recovering its position which was lost during the Bitcoin fork period. It is trading at USD$330. Investors have entered on 24th and 25th when it was trading at around USD$320. We recommend this price as the OTE for the week which would ensure a good Risk/Reward ratio.

Following are the statistical conclusions drawn from this week’s technical analysis:

  • Market Cap: USD $31,766,976,757
  • Circulating Supply: 94,270,460
  • Volume(24h): USD $551,820,000

3. Litecoin:

LTC-analysis-26.08.17

Litecoin has crossed USD $50 mark. Investors who still want to get in must wait for a dip and get in at the blue buying region which would increase the Risk/Reward ratio significantly. Refer to our Litecoin fundamental analysis to understand the potential of the coin.

Following are the statistical conclusions drawn from this week’s technical analysis:

  • Optimal Trade Entry (OTE): Around 0.00004650 BTC
  • Market Cap: USD $2,893,886,049
  • Circulating Supply: 52,646,932
  • Volume(24h): USD $325,010,000
  • Risk/Reward Ratio: 0.64

4. Ripple:

XRP-analysis-26.08.png

Ripple was trading at USD $0.16 which was a stable floor since the past few days. With the current price at USD$0.20, Ripple has displayed a growth of 25% even after the correction. With strong fundamentals and growing community, invest and hold is our recommended position. Risk/Reward Ratio for this would be significantly higher than our recommended threshold.

Following are the statistical conclusions drawn from this week’s technical analysis:

  • Optimal Trade Entry (OTE): Around 0.00004650 BTC
  • Market Cap: USD $7,866,239,162
  • Circulating Supply: 38,343,841,883
  • Volume(24h): USD $177,526,000

5. NEO:

NEO-analysis-26.08

NEO has set a new floor of USD $35. We have observed a correction after NEO soared to USD$50. Risk/Reward Ratio at this point are greater than our recommended threshold. With strong fundamentals and growing community, invest and hold is our recommended position.

Following are the statistical conclusions drawn from this week’s technical analysis:

  • Optimal Trade Entry(OTE): Around 0.00867554 BTC
  • Market Cap: USD $1,901,680,000
  • Circulating Supply: 50,000,000
  • Volume(24h): USD $41,663,900

Information sources-

www.coinigy.com
www.coinmarketcap.com

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Bitcoin Hard Fork, creation of Bitcoin Cash and its impact on Bitcoin.

What impact will the Bitcoin Hard Fork and creation of Bitcoin Cash cryptocurrency have on Bitcoin?

  • For the last several years, the Bitcoin infrastructure has been struggling to handle a growing number of transactions hence technical experts recommended a new cryptocurrency creation that will solve its back-logging issues.
  • Since then Bitcoin miners and developers opinions were split over their vision on Bitcoin’s technical roadmap for the future.
  • These differing opinion within the community had been a prominent cause of the recent Bitcoin price fluctuations.
  • Eventually, on 01.08.2017, a Hard Fork created a split in Bitcoin resulting in the creation of a new cryptocurrency called Bitcoin Cash (BCH).
  • Although BCH will be based on blockchain technology, however, BCH is technically superior to its predecessor Bitcoin since it offers eight fold increase in transaction capacity and will combat high transaction fees that made mining larger blocks invalid.
  • Creation of BCH from Bitcoin through Hard Fork implies that Bitcoin owner will now own equal quantity of BCH as well (please note a similar event occurred last year as well on the Ethereum platform when a cryptocurrency Ethereum Classic was created).
  • Therefore, this Hard Fork also generated millions of dollars in new value for Bitcoin investors and at the time of writing, BCH is valued at USD 430.78 and Bitcoin is valued at USD 2737.50.