KuCoin jumps into top five of exchanges

It has experienced a nine-fold increase in newly-registered users compared to the previous year

KuCoin has announced it has crossed the 10 million global users mark after making it into the top five cryptocurrency exchanges.

According to the latest statistics, the company experienced a nine-fold increase in newly-registered users compared to the previous year, and 23 times year-on-year growth in trading volumes.

The growth of financial and social metrics has also boosted the value of KuCoin’s native token – KCS – in 2021, which has reached an all-time high since 2018, and a 3,000% increase in price compared to the beginning of this year.

The total market cap of KCS has reached $200 million, ranking it number 75 on CoinMarketCap.

Also known as the home of altcoins, the exchange has discovered more than 540 cryptocurrencies with over 1,000 trading pairs, including QI, BOSON, BLOK, RMRK and XCAD in 2021.

In addition, KuCoin is adopting a metaverse-friendly business model, dedicating its resources toward supporting new metaverse projects.

A ‘new era’ for KuCoin

Previously, the exchange introduced the first Metaverse Token Trading Board and opened a virtual office through its collaboration with Bloktopia.

In November, KuCoin Labs, the investment and research arm of the exchange, launched a $100 million Metaverse Fund to empower early-stage metaverse projects.

In his letter, KuCoin’s CEO Johnny Lyu said “the support of KuCoin’s users is indispensable to our achievements today”.

“The 10 million mark users ushers in a new era for KuCoin,” he said.

“As an accelerator and member of the emerging industry, KuCoin has the mission of facilitating the global free flow of digital value.

“As an exchange of, for, and by the people, we want to invite more blockchain talents and experts from all over the world to join us, promoting the mass adoption of blockchain together.”

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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