KuCoin’s Accumulated Transaction Volume Breaks $100 Billion
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On January 4, 2020, KuCoin announced that its accumulated transaction volume exceeded $100 billion. According to the KCS bonus daily report released by KuCoin, its 24-hour trading volume of spot trading, margin trading and futures trading exceeded $2 billion, rising by more than 200% in the past 7 days.
Since bitcoin halved last year, Grayscale has been buying large amounts of Bitcoin. Now it holds more than 600,000 BTC, accounting for about 3% of Bitcoin total supply. Following Grayscale, more institutions such as JPMorgan, Tudor BVI Fund, Social Capital, and Microstrategy Inc, etc. are jumping into Bitcoin. Driven by the demand from institutional buyers, the total crypto market-cap sharply increased by more than 4 times in the past 12 months. In the first week of 2021, Bitcoin surged from $28,920 to $40,350, with an over $10000 net increase. ETH also showed an up trend and topped $1,289, up more than 60% in 7-day.
As the accumulated transaction volume of the KuCoin platform exceeded 100 billion, the price of the KCS, KuCoin’s native token, showed an upward trend. In the past 7 days, the price of KCS jumped from $0.66 to as high as $1.06 before settling down to $0.96, with an increase of more than 36%.
Established in September 2017, KuCoin has grown into one of the most popular crypto exchanges in the world. It currently provides spot trading, P2P fiat trading, futures, Pool-X, and lending to its 6 million users in 207 countries and regions around the world.
KuCoin is backed by IDG and Matrix Partners, the platform secured $20 million Round A funding from the two traditional VCs in November 2019.