VICTORIA, Seychelles--(BUSINESS WIRE)--KuCoin, a global leading crypto exchange, released its performance review report for the quarter ended September 30, 2021. The report highlighted that the trading volume and new signup of the platform grew 720% and 446% YoY respectively. Key product and feature updates as well as the investment and partnership initiatives of KuCoin have also been presented in the report.
KuCoin’s Q3 Highlights
- Trading volume grew 720% YoY (Q3 2020 vs Q3 2021); average daily volume peak of $8.43 billion on September 8, 2021.
- The number of new signups increased 446% YoY (Q3 2020 vs Q3 2021); 1.5 million newly registered users joined KuCoin in Q3, 2021
- Average daily lending volume on KuCoin Lending platform reached approx. $100 million; 3.5 million Trading Bots were created by Q3, 2021
- Over 1345% value increase in KCS since the beginning of 2021; value is being increasingly built into KCS with over $20 million worth of KCS burn, 3 x higher than the accumulated burnt value in 2019 and 2020.
Q3 2021 is a key milestone for KuCoin. According to Coingecko, the trading volume of KuCoin in Q3 2021 has surpassed $258 billion. Additionally, KuCoin's share of volume is on the rise when compared to other major Centralized Exchanges (CEXs*), amongst which the percentage of KuCoin’s transaction volume soared from around 1.5% at the beginning of the year to almost 5% by the end of this quarter, due to the high quality and diversified number of crypto gems on the platform.
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 Q3 2021, KuCoin made significant progress on its offerings. The exchange discovered and listed 86 promising crypto assets, launched the first Metaverse Trading Board, and introduced the NFT game Guardian Star on KuCoin Win. KuCoin Pool also made its debut with a highly competitive mining fee of 2% compared with other mining pools.
KuCoin Labs, the research and investment arm of KuCoin, has also achieved great performance. It made cross-industry investment in promising blockchain projects; developed key partnerships with renowned investment institutions; and produced monthly reports on the best trending blockchain topics.
Moving forward, it is strengthened in the review report that KuCoin is transforming into a social trading platform with the launch of social trading functions in Q4 this year.
Launched in September 2017, KuCoin is a global cryptocurrency exchange for over 400 digital assets. It currently provides Spot trading, Margin trading, P2P fiat trading, Futures trading, Staking, and Lending to its 8 million users in 207 countries and regions around the world. In 2018, KuCoin secured $20 million in Round A funding from IDG Capital and Matrix Partners. According to CoinMarketCap, KuCoin is currently the fifth biggest crypto exchange. In 2021, Forbes named KuCoin as one of the Best Crypto Exchanges for 2021.
To find out more, visit https://www.kucoin.com/