Price Action
Since last week, Kucoin’s price went up by 6.12%. It is above its 20 day moving average by 17.8%, so it’s a bit of a ways off. Kucoin’s bullish momentum, based on its distance from its 20 day moving average, is above average relative to our index of cryptocurrencies. Now when considering volatility, Kucoin is more prone to sizable price moves than 92% of coins in our index, so bear that in mind if you decide to trade it. Based on volatility over the past three weeks, we can expect Kucoin to experience a price range in US dollars between 0.8740467 and $2.041153.
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 1,398,708 and 12,675,789. Over the past three weeks, volume has trended downwards, but price has gone in the opposite direction — up. KuCoin Shares experienced a turnover rate of about 9.11% over the past week, which means that is the percent of its available money supply that is traded daily. Its turnover rate is more than approximately 80% 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
Over the past week, Kucoin saw its holders go from 57,910 to 58,128, an increase of 0.38%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 115,589 to 116,377, which translates to growth of 0.68% for the week. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of Kucoin is thus at 1.06% which, relatively speaking, is ahead of 45.45% of the cryptocurrencies we’re tracking. One interpretation of this may be that the coin’s weekly growth in engagement is fairly mediocre.
KuCoin Shares News and Commentary
Over the past week, we found 2 links about KuCoin Shares that we found especially interesting. If possible we included a brief excerpt from the article — be sure to click through for the entire piece.
KuCoin and Binance on Working as One! – Christine Raja
Snippet:
News is spreading so quickly about the listing of BNB on KuCoin and supporting Binance Chain and CZ retweeted the tweet about it and see what he gonna say about it here; https://twitter.com/cz_binance/status/1141241673139150848…This time it is not about competition between two of the hottest and known cryptocurrency exchange in the space.
Binance Partners to KuCoin to Cater BNB to US
Snippet:
This agreement is a win-win situation to both party since they will list both native tokens to their respective cryptocurrency exchanges.
Article by SixJupiter
