Price Action
Over the past week, Kucoin saw its price go up by 5.77%. It is above its 20 day moving average by 5.74%, 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 7% of coins in our index, so this coin might not move much — something traders and investors will certainly want to keep in mind. If volatility over the past three weeks is any indication of what’s to come, we can expect Kucoin to bounce between 0.9583318 and $1.122298 US dollars per coin.
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 1,432,136 and 7,286,440. In the three weeks prior, volume has a clearn upwards trend, but the trend in price is not as clear. The past 7 days saw KuCoin Shares’s trading turnover — meaning the percentage of its available supply that was traded — come in at 6.8%. Its trading turnover percentage is higher than about 75.76% of the coins we’re tracking, so it’s above average and thus will have enough liquidity for many investors/traders.
Engagement Update
The number of wallets holding Kucoin went from 57,431 to 57,531 in the past week, marking a change of 0.17%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 109,261 to 114,265, which translates to growth of 4.58% for the week. The combined engagement growth rate (growth rate in holders plus growth rate in transfers) of Kucoin is thus at 4.75% which, relatively speaking, is ahead of 77.78% of the cryptocurrencies we’re tracking. One interpretation of this may be that the coin’s engagement is growing at an above average rate.
Article by SixJupiter
