Popular cryptocurrency exchange KuCoin has published a comprehensive performance review in the first quarter of 2022. Accordingly, the stock market experienced an annual increase of 491% in the number of new users.
Cryptocurrency markets have been in turmoil lately, while the popular exchange Kucoin is seeing an increase in the number of new users despite this situation. The exchange attracted nearly 6 million new registered users in the first quarter of 2022, up 491% year-on-year. In terms of user growth, the Asia, Middle East and Africa and Europe regions were in the top 3. Asia led the statistics with user registrations, up 1,503 percent year on year. Middle East and Africa and Europe increased by 300% and 219%, respectively. User activity also increased significantly in the first quarter of 2022, with active users increasing by approximately 451% year over year.
Traded Volume Exceeds $1 Trillion
According to the report, KuCoin’s cumulative trading volume has exceeded $1 trillion for spot and futures transactions. In addition, the average daily volume reached 11 billion dollars. The report also stated that the highest daily trading volume exceeded $9 billion in spot and nearly $15 billion in futures.
The KuCoin community has seen a significant increase, with the Twitter profile gaining over 320,000 new followers and totaling 1.6 million. KuCoin has also increased the number of its global communities to 23.
A New Age Begins
After the KCS Whitepaper was published on March 29, it is possible to say that a new era has begun in the development of the stock market. KCS whitepaper outlines token distribution percentages, relevant deflation mechanisms. In addition, according to the information obtained and the statements made, the development of the KuCoin Community Chain, or KCC, will be an important booster for KCS.
The decentralized public chain KCC created by KCS fans will expand decentralized use cases for KCS, including paying KCS as gas fees or resource consumption fees, staking KCS to power liquidity mining, and more.
Other Major Developments
Apart from the increase in the number of new users, transaction volumes and KCS-related developments, Kucoin has seen many different innovations and advancements.
KuCoin Earn added new stablecoins, popular coins and new projects. KuCoin listed 44 promising cryptocurrencies and 59 trading pairs, 19 of which were world premieres, in the first quarter of 2022.
KuCoin also continues to develop itself in partnerships by establishing relationships with the Xangle virtual asset information disclosure and data mining platform. The exchange has also partnered with Blocktopia to set up its first virtual office on the metaverse. KuCoin Labs, on the other hand, increased its investments unabated in the first quarter, including investments in nine local projects and subscriptions to two crypto private equity funds with more than ten million. KuCoin Labs also announced a strategic investment in MojitoSwap, the largest DEX structure on KCC.
KuCoin performed well in the first quarter of 2022, with close to 1000 staff worldwide. The exchange expects higher adoption and user engagement rates for the remainder of 2022, despite the crypto winter, according to data from the latest Into The Cryptoverse Reports covering Germany, Turkey and Africa.
About KuCoin
KuCoin, which started its operations in September 2017, has become a global cryptocurrency exchange with its operational headquarters in Seychelles. Offering over 700 digital assets as a user-centric platform focused on inclusion and community action access, Kucoin currently provides spot trading, margin trading, P2P fiat trading, futures trading, equities and lending to its 18 million users in 207 countries.
Visit https://www.kucoin.com to learn more.
