The first facet that has seen a notable uptick is the token’s daily active address count.
They note that this metric has not been this high since April of 2018.
The other facet that has seen growth is the number of Kyber Network’s transaction count, which just hit a fresh 2-year high.
IntoTheBlock explains that the daily transaction count is now ten times higher than that seen at the beginning of 2020.
“The number of daily KNC transactions has averaged 3,970 over the last week, representing almost a 10x increase versus the number seen at the beginning of 2020. Overall, anticipation for the Katalyst upgrade has evidently led to on-chain growth for Kyber’s underlying network.”
KNC’s stalling momentum may be coming about as a result of that seen by the aggregated DeFi sector.