Price Action
In the week prior, the price for Kucoin went up by 0.92%. It is below its 20 day moving average by 2.48%, so it’s fairly close. Kucoin’s bullish momentum, determined by its distance from its 20 day moving average, is pretty far negative compared to the other coins we’re covering, and thus may be due for a correction upwards or some kind of a period of low volatility. Regarding volatility, Kucoin is more volatile than roughly 38% 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 $1.001742 and $1.254258.
Volume Update
In the week prior, the daily volume for KuCoin Shares has ranged between 455,501.5 and 4,813,442 currency units. Over the past three weeks, the trend in volume does not have a clear direction, while the price trend is clearly down. The past 7 days saw KuCoin Shares’s trading turnover — meaning the percentage of its available supply that was traded — come in at 2.75%. This turnover rate is higher than approximately 62.24% 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 57,084 to 57,173 in the past week, marking a change of 0.16%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 108,071 to 108,425, which translates to growth of 0.33% for the week. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of Kucoin is thus at 0.49% which, relatively speaking, is ahead of 38.89% of the cryptocurrencies we’re tracking. This could indicate that its change in engagement is below average, at least on a percentage basis.
Article by SixJupiter
