Kyber Network tops Upbit's greed index despite 8% price drop amid a 500% volume surge, signaling potential reversal risk.

Kyber Network (KNC) led Upbit's greed index with a score of 66, indicating strong speculative demand despite its price dropping 8.47% to around 227 KRW. The token experienced a sharp volume surge of over 500% above the three-day average, reaching 241.7 million KNC traded, which often signals momentum-driven trading that can reverse quickly. The price volatility expanded significantly, with an intraday range between 225 KRW and 251 KRW, and a pronounced upper wick suggesting selling pressure at higher levels. This divergence between high greed sentiment and falling price points to crowded long positions and potential short-term cooling or correction. Traders will watch if the high volume supports renewed buying or signals distribution amid a weak broader Korean won crypto market.