Price Action
Over the past week, Kucoin saw its price go up by 47.29%. It is above its 20 day moving average by 30.77%, so it’s very far away. Kucoin’s bullish momentum, if assessed by its distance from its 20 day moving average, is well above average relative to its peers, and thus may be a sign the market for the coin is overheating and due to correct downwards. Regarding volatility, Kucoin is more volatile than roughly 88% of coins in our index, so bear that in mind if you decide to trade it. Looking ahead, if the upcoming week mirrors the volatility of three past three weeks, the price range for Kucoin in US dollars is expected to be between $0.8458824 and $1.650118.
Volume Update
Over the past week, KuCoin Shares saw its daily volume range between 2,293,063 and 13,487,816 units of its own currency. Over the past three weeks, the trend in volume is not clear, though price is marching upwards. The past 7 days saw KuCoin Shares’s trading turnover — meaning the percentage of its available supply that was traded — come in at 9.54%. Its turnover rate is more than approximately 80.61% of the cryptocurrencies in our index, so it’s far above average and thus a good coin for those interested in active trading or being able to get out of the market if they need to.
Engagement Update
The number of wallets holding Kucoin went from 57,782 to 57,964 in the past week, marking a change of 0.31%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 115,071 to 115,812, which translates to growth of 0.64% for the week. This translates to a combined engagement growth rate of 0.95% for Kucoin — which is higher than 38.24% of the cryptocurrencies we’re reporting on. This growth rate suggests its change in engagement is below average, at least on a percentage basis.
KuCoin Shares News and Commentary
Over the past week, we found one link about KuCoin Shares that we thought was particularly interesting. Where available, we included a snippet of the article that we thought might be interesting.
Pundi X welcomes KuCoin and its native token KCS into the Payment
Article by SixJupiter
