KuCoin, one of the leading cryptocurrency exchanges, today released its performance review for the third quarter of 2021. In the three months ending September 30, KuCoin transaction volumes increased 720% in year-on-year, and registrations to new platforms increased by 446% compared to the same period in 2020.
Exceptional growth benefits the KCS token
The report also found that the daily average in the third quarter reached $ 2.91 billion, peaking at $ 8.43 billion on September 8, 2021. In addition, the daily lending volume on the KuCoin platform reached the $ 100 million mark. As a result, the stock exchanges native token (KCS) has gained over 2,000% year-to-date and currently has a market cap of $ 1.39 billion.
KuCoin embarks on social trading
In the third quarter, Kucoin extended its coverage, adding 86 crypto assets to the platform and launching the first Metaverse Trading Board. The report also details KuCoins’ plans to transform into a social trading platform in the fourth quarter.
KuCoin CEO Johnny LYU said: “We have continually explored beyond industry boundaries in bull-bear cycles. We are committed to lowering the threshold for every user to enter the crypto industry. In Q3 2021, KuCoin stays close to hot topics covering NFT, Meme Tokens, GameFi and Metaverse. At the same time, we continue to increase our global reach with more localized services, and we are working hard to improve the overall stability and security of the platform. “
The road ahead
KuCoin plans to introduce a host of new products with social trading features and apply for more licenses to increase its global footprint in Q4 and remains ambitious to maintain its role as the # 1 trading platform for altcoins. .
KuCoin, launched in 2017, has become a major player in cryptocurrencies. The exchange offers access to 486 digital assets and provides spot and margin trading. According to CoinMarketCap, Kucoin is the fifth largest cryptocurrency exchange in the world behind FTX.
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