KuCoin Has A Surprise to Thousands of Unaware Aave’s LEND Holders
After first delisting DeFi platform Aave’s LEND tokens back in December 2018 due to “low liquidity,” crypto exchange KuCoin has now re-listed the asset after the price increased more than 6,000%. However, thousands of holders are not even aware that they now hold the tokens.
The news about the likely forgotten LEND tokens was first shared on Twitter earlier this month by Johnny Lyu, Co-founder and CEO of KuCoin, who said that more than 10,000 people may still have LEND tokens on the exchange without even knowing about it.
LEND price chart:
And in an emailed comment to Cryptonews.com, the company, which claims it was “one of the biggest markets for LEND” before the token got delisted, said that close to 12 million LEND tokens (worth about USD 7.8 million) are still held on the exchange.
“After the re-list, we noticed that about 10k LEND holders haven’t logged in for the last 30 days, and very likely they are not aware that they have some digital assets on KuCoin,” the company said, adding that they have attempted to notify users via both Twitter and email, while “until now, about 20% [of] holders logged [in] again.”
However, KuCoin also explained that although most users remain unaware that they hold any LEND tokens on the platform, 75% of those that have logged in again chose to hold on to their newly re-discovered tokens.
Meanwhile, the exchange also said that 20% of users who logged in chose to sell all or part of their tokens, while 5% increased their LEND holdings.
At pixel time (14:38 UTC), LEND, ranked 28th by market capitalization, trades at around USD 0.64 and is down by 8% in a day, trimming its weekly gains to 16%. The price is up by 26% in a week and by a whopping 15,479% in a year.
Top LEND markets in the past 24 hours: