Kucoin sees user base surge past the 10m mark


TL;DR Breakdown

  • KuCoin has grown its global user base to over 10 million people.
  • The feat makes it one of the top five crypto exchanges globally.

KuCoin has surpassed the ten million user milestone. The firm has announced today through a Twitter post. Achieving the feat places the crypto exchange among the top five platforms globally.

Compared to 2020, these figures show that the crypto trading platform registered a nine-fold growth in its user base. The growth translated into a twenty-three-fold rise in the platform’s transaction volumes.

Accordingly, these growths have shored Kucoin’s native digital asset, the KuCoin Token (KCS). KCS has hit an all-time high(ATH) this year. Compared to its other ATH in 2018, the token has surged 3,000 percent today. 

Besides that, KCS has grown its market capitalization to $200 million. Consequently, CoinMarketCap recognizes it as the 75th most valuable crypto asset on its platform.

KuCoin’s Metaverse drive

Crypto enthusiasts also refer to KuCoin as the world’s Altcoin Capital, and it hosts more than 540 digital assets. It supports over one thousand trading pairs too. Its popular offerings are XCAD, BOSON, QI, RMRK, and BLOK.

Again, the exchange is transitioning into the metaverse. To that end, it’s allocating significant resources to support cutting-edge projects in the metaverse space. 

It premiered a Metaverse Token Trading Board and partnered with Bloktopia to build a virtual office. Likewise, KuCoin Labs, the exchange’s investment and research arm, created a $100 million Metaverse Fund in November to support startups in that space.

Johnny Lyu, the firm’s CEO, wrote their customers a letter to commemorate the feat. His 9th December 2021 letter also marked the release of KuCoin’s latest iteration of its referral program. The loyalty program will reward customers in millions of dollars.

Similarly, the platform has distributed a thousand special limited edition gold cards to its highest contributors. These cards confer additional perks.

KuCoin and global blockchain adoption

Mr. Lyu appreciated the significance of his firm’s customers in their achievements. He said that their reaching the ten-millionth user milestone ushered in a new era for crypto.

He added that KuCoin would continue taking the leading role in pushing for the free adoption of cryptos globally. Further, they would continue encouraging blockchain (BC) experts across the globe to join them in pushing for greater BC adoption. 

KuCoin debuted in 2017 and serves a clientele spanning 207 nations. Its users can trade in a wide variety of products. Among its most popular ones are Spot and Margin trading. Moreover, it facilitates peer-to-peer (P2P) fiat transactions and futures trading. Again, it supports Stacking besides P2P lending. 

In 2018, the crypto trading platform raised $200 million in Series A funding. Both IDG Capital and Matrix Partners were the underwriters. Recently, Forbes has recognized it as one of the outstanding crypto exchanges of 2021.

Share link:

Edith Muthoni

Edith is an investment writer, trader, and personal finance coach specializing in investments advice around the fintech niche. Her fields of expertise include stocks, cryptocurrencies, blockchain, and cryptocurrency investments.

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Related News

Subscribe to CryptoPolitan