Price Action
Over the past week, Kucoin saw its price go up by 4.73%. It is below its 20 day moving average by 2.56%, so it’s fairly close. Kucoin’s bullish momentum, based on 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 20% of coins in our index, so it’s notably less volatile than the other cryptocurrencies we’re monitoring. Based on volatility over the past three weeks, we can expect Kucoin to experience a price range in US dollars between 0.9200553 and $1.214575.
Volume Update
Over the past week, KuCoin Shares saw its daily volume range between 1,896,531 and 7,550,519 units of its own currency. Over the past three weeks, volume has steadily risen, but price has been declining. KuCoin Shares experienced a turnover rate of about 5.77% over the past week, which means that is the percent of its available money supply that is traded daily. Its trading turnover percentage is higher than about 70.1% of the coins we’re tracking, 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 57,161 to 57,431, an increase of 0.47%. As for overall transactions, they increased from 108,337 to 109,261 — an increase of 0.85%. Kucoin’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 1.32% which puts it ahead of 40.00% of the coins in our index. This growth rate suggests the coin’s weekly growth in engagement is fairly mediocre.
Article by SixJupiter
