๐จ Attention KNC Traders & Holders
Kyber Network Crystal (KNC) has seen a notable price drop todayโa bearish shift that's grabbing attention. Hereโs a breakdown youโd see on Binance Square:
๐ป Key Price Movements
Current Price: ~$0.47, down sharply from the intraday high of ~$0.61
Daily Change: โ15.06% decline from previous close
Weekly Trend: Analysts reported a โ15.7% drop in the past 7 days, putting the token around ~$0.54 at the start of the week
๐ Whatโs Fueling the Selloff?
1. Binance Futures Contract Delisting โ Binance removed KNC coin-margined perpetual pairs in May 2024, reducing derivatives liquidity and potentially triggering long liquidations .
2. Altcoin Market Slide โ In midโJune 2024, KNC fell over 23% in 24 hours amid broader altcoin weakness, hitting around $0.55 .
3. Whale Activity โ On-chain tracking shows major holders transferring hundreds of thousands of KNC to Binance, suggesting potential dumping activity that may pressure price further .
๐ผ Risk Guidance
Monitor exchange inflows โ spikes may signal growing sell pressure ahead.
Technical levels โ price breaking below support could accelerate losses.
Diversify exposure โ considering KNCโs volatility, managing position size is critical
KNC/USDT ๐ PRICE DROP ALERT
Entry Range: ~$0.61
โก๏ธ Dropped to ~$0.47 โ down ~15% today
Key Zones: $0.61โ0.54 support; breakdown risks further losses
Whales moving KNC to Binance โ sell pressure building
Binance delisted KNC coinโderivatives in May 2024
Altcoins in retreat; investor caution advised
