KuCoin trading volume up 720% y/y in Q3 2021
- Daily volume recorded a peak of $8.43 billion on September 8
- Daily lending volume on the platform reached around $100 million
- Since the beginning of the year, there has been over 1345% value increase in KCS
Trading volume and new registrations on leading global leading crypto exchange KuCoin (KCS/USD) grew 720% resp. 446% y/y according to their performance report for Q3 2021, Invezz learned from a press release. The review also provides information about key product and feature updates as well as the investment and partnership initiatives of KuCoin.
KuCoin Q3 Highlights
Daily volume recorded a peak of $8.43 billion on September 8 and 1.5 million newly registered users joined KuCoin in Q3, 2021. On average, daily lending volume on the platform reached around $100 million. By the third quarter of the year, 3.5 million trading bots had been created.
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Since the beginning of the year, there has been over 1345% value increase in KCS. The token is becoming more and more valuable with KCS burnt exceeding $20 million. This is up threefold from the burnt value in the two years prior.
Q3 2021 is a key milestone for KuCoin
According to CoinGecko data, the platform’s trading volume in the third quarter of 2021 exceeded $258 billion. Moreover, KuCoin’s share of volume surpasses that of other major centralized exchanges. KuCoin’s transaction volume increased from around 1.5% at the beginning of 2021 to almost 5% by the end of Q3. The diverse number and high quality of cryptocurrencies on the platform account for this.
Johnny Lyu, CEO of KuCoin, said:
We have continuously explored beyond the industry boundaries in the bull-bear cycles. We are dedicated to lowering the threshold for every user to enter the crypto industry. In 2021 Q3, KuCoin keeps close with trending topics covering NFT, Meme tokens, GameFi, and Metaverse. At the same time, we keep increasing our global reach with more localized services, and we are working hard to improve the overall stability and security of the platform.
In this quarter, KuCoin discovered and listed 86 new tokens, introduced the NFT game Guardian Star on KuCoin Win, and launched the first Metaverse Trading Board. It also introduced a low mining fee of just 2%.
KuCoin’s research and investment division, KuCoin Labs, was also very successful. They developed key partnerships with reputable investment institutions and made cross-industry investments in promising blockchain projects among other progressive initiatives.