May 8, 2020: KuCoin (KCS): Down 1.74%

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KuCoin Price Update

KuCoin is down by approximately 1.74% from the previous day, with its price currently hovering around $0.9252 USD. The past 24 hours mark a reversal in price from the day prior; it should be noted, though, that price is still in a down trend, and is currently 1.75% below its 20 day moving average. Staying above this level may be critical to sustain short-term momentum. Another data point we may find worthy of observation is that price for KuCoin has increased 2 of the previous 5 days. Another data point we may find worthy of observation is that price for KuCoin has increased 2 of the previous 5 days.

In terms of an expected trading range, the Bollinger bands on KuCoin suggest price may bounce between $0.900716 and $0.982714 based on its momentum and volatility over the past 14 days. As we are closer to the bottom of that range, rangebound traders may wish to consider exploring buying opportunities.

The market capitalization of KuCoin, or the amount of US dollars it would take to buy up all the circulating coins, is currently estimated to be $75 million.

Update on Transactions and Holders

Over the past 24 hours, 244 transfers have been added to the blockchain recording transactions amongst holders of KuCoin. In terms of estimating the number of holders, over the past day the total number of wallets holding KuCoin has gone up by approximately 7. To further our understanding of engagement we can observe the ratio of daily active users to monthly active users; that ratio now stands at 0.25, with 97 wallets making a transfer this past day and 385 wallets having made a transfer in the past month.

Just How Rich are KuCoin’s Richest Holders?

As for wealth distribution, the richest 1,000 wallets currently own 210.75% of the money supply. To further clarify, our supply metric focuses only on supply that is publicly available while many large holders may have tokens they are not able to sell yet — which is why this value can exceed 100%. The underlying smart contract itself for KuCoin owns 0.01% of the total money supply; over the past week, this amount has not changed.

The Latest on KuCoin and Social Media

Twitter appears to be the most popular place to follow the company, and thus may be worth monitoring. You can follow KuCoin on Twitter here.

Article by SixJupiter

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