Price Action
Over the past week, Kucoin saw its price go down by -6.45%. It is below its 20 day moving average by 4.13%, so it’s fairly close. Kucoin’s bullish momentum, based on its distance from its 20 day moving average, is above average relative to our index of cryptocurrencies. Regarding volatility, Kucoin is more volatile than roughly 57% of coins in our index, so it’s volatilty is about what you’d expect for a cryptocurrency in our index. Based on volatility over the past three weeks, we can expect Kucoin to experience a price range in US dollars between 1.005627 and $1.414373.
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 817,085.7 and 11,561,335. Looking back over past 21 days, the trend in volume,like the trend in price, is choppy and does not reveal a clear direction. Over the past week, KuCoin Shares saw its trading turnover — which we define as average daily trading volume divided by circulating supply — register at 5.64%. This turnover rate is higher than approximately 69.07% of the cryptocurrencies we monitor, which means it’s above average and thus will have enough liquidity for many investors/traders.
Engagement Update
The number of wallets holding Kucoin went from 56,685 to 56,801 in the past week, marking a change of 0.20%. And in regards to cumulative transactions logged on the blockchain, they went from 106,823 to 107,168, which amounts to a change of 0.32%. Kucoin’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 0.52% which puts it ahead of 38.24% of the coins in our index. This growth rate suggests its change in engagement is below average, at least on a percentage basis.
Article by SixJupiter
