Price Action
Since last week, Kucoin’s price went down by -0.62%. It is below its 20 day moving average by 1.81%, so it’s fairly close. Kucoin’s bullish momentum, based on its distance from its 20 day moving average, is roughly middle-of-the-pack relative to the cryptos we’re tracking. Regarding volatility, Kucoin is more volatile than roughly 45% of coins in our index, so it’s volatilty is about what you’d expect for a cryptocurrency in our index. If volatility over the past three weeks is any indication of what’s to come, we can expect Kucoin to bounce between 1.397592 and $1.869508 US dollars per coin.
Volume Update
In the span of the preceding 7 days, KuCoin Shares’s daily volume, in terms of its own unit of currency, has fluctuated between 2,254,841 and 11,926,449. Over the past three weeks, the trend in volume does not have a clear direction, while the price trend is clearly down. The past 7 days saw KuCoin Shares’s trading turnover — meaning the percentage of its available supply that was traded — come in at 8.69%. This turnover rate is higher than approximately 80.39% of the cryptocurrencies we monitor, which means 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 58,259 to 58,379 in the past week, marking a change of 0.21%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 116,841 to 117,170, which translates to growth of 0.28% for the week. Kucoin’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 0.49% which puts it ahead of 17.65% of the coins in our index. This growth rate suggests the coin’s usage is not growing much at all.
Article by SixJupiter
