April 1, 2020: KuCoin (KCS): Down 2.6%; 2nd Straight Down Day


KuCoin Price Update

KuCoin’s current price, at the time of this writing, is $0.9099 USD, down by approximately 2.6% from the day prior. This marked the the 2nd straight day KuCoin has been down; it is still in a downtrend, and is currently 12.23% below its 20 day moving average; staying above this level may be critical to sustain short-term momentum. From another vantage point, note that price has gone up 3 of the past 10 days. Another data point we may find worthy of observation is that price for KuCoin has increased 3 of the previous 10 days.

In terms of an expected trading range, the Bollinger bands on KuCoin suggest price may bounce between $0.789961 and $1.283489 based on its momentum and volatility over the past 14 days. As we are closer to the bottom of that range, rangebound traders may wish to consider exploring buying opportunities.

The market capitalization of KuCoin, or the amount of US dollars it would take to buy up all the circulating coins, is currently estimated to be $74 million.

Straight Off the Chain

Over the past 24 hours, 4 transfers have been added to the blockchain recording transactions amongst holders of KuCoin. As for the number of holders, yesterday saw the number of wallets holding KuCoin fall by 0. To understand loyalty or repeat usage amongst holders of KuCoin, we can note that there were 5 wallets making a transaction yesterday, while 449 wallets have sent or received tokens in the past month; this imputes a daily active wallet to monthly active wallet ratio of about 0.01.

How are the Strong Holders of KuCoin Faring?

And in regards to wealth distribution, note that the top 1,000 KuCoin wallets hold over 209.94% of the token’s total money supply. This number is greater than 100% because many of the token holders are not able to sell them yet, and thus their numbers are not included in the supply yet, though they can be regarded as future sellers when they are able to sell. The underlying smart contract itself for KuCoin owns 0.01% of the total money supply; over the past week, this amount has not changed.

What’s Going on Social Media?

Social media growth, in terms of Twitter followers and Reddit subscribers, came in at up 32 and 2 over the past day for KuCoin. Twitter appears to be the most popular place to follow the company, and thus may be worth monitoring. Use this link to follow KuCoin on Twitter.

Article by SixJupiter

Stay up to date on crypto news!

Sign up for our newsletter for all the hottest crypto stories, ICO reviews, and insights from leading experts of the crypto world - four times a week.

You have been signed up!