Price Action
Since last week, Kucoin’s price went down by -4.31%. It is below its 20 day moving average by 6.6%, so it’s slightly away. Kucoin’s bullish momentum, based on its distance from its 20 day moving average, is roughly middle-of-the-pack relative to the cryptos we’re tracking. Now when considering volatility, Kucoin is more prone to sizable price moves than 7% of coins in our index, so this coin might not move much — something traders and investors will certainly want to keep in mind. Based on volatility over the past three weeks, we can expect Kucoin to experience a price range in US dollars between 1.104828 and $1.272172.
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 455,501.5 and 2,290,699. In the three weeks prior, both price and volume have been declining. The past 7 days saw KuCoin Shares’s trading turnover — meaning the percentage of its available supply that was traded — come in at 1.44%. This turnover rate is higher than approximately 53.12% of the cryptocurrencies we monitor, which means it’s middle-of-the-pack; investors/traders may thus wish to consider their liquidity requirements to make sure the coin matches their needs and their expected trading volume.
Engagement Update
Over the past week, Kucoin saw its holders go from 56,801 to 57,084, an increase of 0.50%. In terms of blockchain-recorded transactions made by these wallets since their inception, that number changed from 107,168 to 108,071, which translates to growth of 0.84% for the week. This translates to a combined engagement growth rate of 1.34% for Kucoin — which is higher than 43.75% of the cryptocurrencies we’re reporting on. One interpretation of this may be that the coin’s weekly growth in engagement is fairly mediocre.
Article by SixJupiter
