KuCoin Trading Volume, Initiatives Surge Amid Market Downtrend

2022.07.13 00:46

KuCoin Trading Volume, Initiatives Surge Amid Market Downtrend

• KuCoin reveals its activities in Q1 2022.
• The platform has launched several ventures and initiatives in this period.
• KuCoin has also exceeded its trading volume compared to Q1, 2021.

Despite the crypto market being down, KuCoin has taken a different way to showcase its uptrend. The crypto exchange has exceeded $2 trillion in trading volume in the first half of 2022. This is a 180% surge compared to the same period in 2021.

In an official blog post, the KuCoin team reviewed its developmental activities in the first half of 2022. The team remarked that they are breaking their highest daily volume record almost every quarter. Specifically, in May 2022, KuCoin’s daily spot trading volume climbed to $11 billion, and the top daily futures volume was approximately $23 billion.

Source: KuCoin

Moreover, the platform gained over 9.75 million new registered users, a 219% increase from the first half of 2021. Currently, the platform serves more than 18 million users worldwide.

To note, there is a higher number of users in Asian countries, with 5.6 million new registered users. Also, newly registered users in Africa and the Middle East (152%), Latin America (216%), and Europe (142%) increased compared to Q1 2021.

It is worth noting that KuCoin also expanded its staff team, onboarding nearly 400 talents, with a total of more than 1,000 staff globally. The blog post read: “We believe that talent is the key to remaining competitive in the crypto space, and KuCoin will stick to our hiring plan while others are doing layoffs.”

Moreover, KuCoin has listed 137 crypto assets, making a number of 700 tradeable assets on the platform. It supports fiat trading pairs, isolated margins, covert function, and one-cancels-the-other (OCO) orders. KuCoin has specifically focused on Web3 developments such as Wonderland, Windvane, KuCoin Wallet, and KuCoin Community Chain (KCC).

The crypto exchange is also recognized as one of the best altcoin exchanges of 2022 by major press like Ascent and Forbes Advisor.