KNC's on-chain, social data leans bearish after 35% rally
Quick takeaways:
- Amid the rally, KNC’s on-chain and social data is now flashing a number of bearish signals and signs of a looming correction
- Assets covered: KNC
- Metrics used: Social volume, Social dominance, Emerging trends, Exchange inflow, Deposit transactions, Share of coin supply on exchanges, Top holders, Holder distribution, MVRV
There’s been growing talk of a possible altcoin season over the past week, and KNC is wasting no time starting us off. The Kyber Network’s native token has surged a massive 13.70% in the past 24 hours, climbing to an almost 2-year high $0.94 at the time of writing.
If you’re an active KNC bag holder, congrats! But also - thread carefully. KNC’s on-chain and social data is now flashing a number of bearish signals and possible signs of a looming correction for the 14th biggest ERC-20 coin.
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