A large amount of institutional funding has been pouring into cryptocurrencies, submit their robust rebound in 2020. Now, retail exercise is on the rise as properly. Individuals’s curiosity in crypto has skyrocketed this 12 months. Crypto is a sizzling matter not solely amongst traders however in widespread tradition too.
General, 2021 has been an enormous 12 months for the cryptocurrency house as a complete. Likewise, Kucoin has seen important development this 12 months.
KuCoin, one of many world’s main crypto exchanges, introduced it had crossed the ten million international customers mark. As per the official blog, the stated platform achieved a 9x enhance within the variety of newly registered customers in comparison with 2020. Buying and selling quantity additionally grew by nearly 23x YoY, i.e. 23 occasions year-over-year development in buying and selling volumes.
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KuCoin has made it to the highest 5 cryptocurrency exchanges, sharing the identical variety of customers with the most important digital asset platforms.
Along with this, the aforementioned developments boosted the worth of KuCoin’s native token, KCS. It witnessed a 3,000% enhance in value in comparison with the start of this 12 months. The whole market cap of KCS reached $200 million. The flagship token gained positions from #seventy fifth to now a #72nd place. Though it achieved an ATH since 2018, at press time – KCS was trading within the purple zone with a 5% setback in 24 hours.
KuCoin has found over 540 crypto gems with over 1000 buying and selling pairs, together with QI, BOSON, BLOK, RMRK and XCAD in 2021. This has helped altcoins take pleasure in some daylight. In the meantime, not so surprisingly, it included a metaverse-friendly enterprise mannequin. In reality, the staff launched a $100 million Metaverse Fund to empower early-stage metaverse tasks.
Johnny Lyu, the CEO of KuCoin reiterated the identical optimism post-completing the stated feat. Right here’s what he said:
“The assist of KuCoin customers is indispensable to our achievements in the present day. The ten million mark customers ushers in a brand new period for KuCoin. As an accelerator and member of the rising trade, KuCoin has the mission of facilitating the worldwide free circulate of digital worth.”
General, it has been fairly a 12 months for the Seychelles-based alternate. From regulatory considerations in China to stolen funds– the alternate has seen all of it. Regardless of these challenges, according to CEO Johnny Lyu, the alternate’s buying and selling quantity topped $258 billion in Q3. This was an increase of 720% when in comparison with Q3 in 2020.