Price Action
In the week prior, the price for Kucoin went up by 8.04%. It is above its 20 day moving average by 11.06%, 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. In terms of volatility, Kucoin exhibits greater price volatility than approximately 24% of coins in our index, so it’s notably less volatile than the other cryptocurrencies we’re monitoring. 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 $0.9718967 and $1.207103.
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 1,085,087 and 9,328,867. Over the past three weeks, the trend in volume is not clear, though price is marching upwards. Over the past week, KuCoin Shares saw its trading turnover — which we define as average daily trading volume divided by circulating supply — register at 5.76%. Its turnover rate is more than approximately 66.32% of the cryptocurrencies in our index, so it’s above average and thus will have enough liquidity for many investors/traders.
Engagement Update
Over the past week, Kucoin saw its holders go from 57,531 to 57,684, an increase of 0.27%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 114,265 to 114,672, which translates to growth of 0.36% for the week. This translates to a combined engagement growth rate of 0.63% for Kucoin — which is higher than 33.33% of the cryptocurrencies we’re reporting on. This growth rate suggests its change in engagement is below average, at least on a percentage basis.
Article by SixJupiter
