Price Action
Over the past week, Kucoin saw its price go up by 6.17%. It is below its 20 day moving average by 2.21%, so it’s fairly close. Kucoin’s bullish momentum, if assessed by 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 19% of coins in our index, so this coin might not move much — something traders and investors will certainly want to keep in mind. 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 $1.254906 and $1.702494.
Volume Update
Over the past week, KuCoin Shares saw its daily volume range between 2,002,485 and 11,853,075 units of its own currency. In the three weeks prior, the trend in volume does not have a clear direction, while the price trend is clearly down. Over the past week, KuCoin Shares saw its trading turnover — which we define as average daily trading volume divided by circulating supply — register at 8.72%. This turnover rate is higher than approximately 84% 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
Over the past week, Kucoin saw its holders go from 58,464 to 58,532, an increase of 0.12%. As for overall transactions, they increased from 117,575 to 117,948 — an increase of 0.32%. Kucoin’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 0.44% which puts it ahead of 70.02% of the coins in our index. This growth rate suggests the coin’s engagement is growing at an above average rate.
Article by SixJupiter
