KuCoin Token (KCS) rising ahead of metaverse party on Wednesday

Image Source: © Shahurin | Megapixl.com

Highlights:

  • KuCoin Token (KCS) is the native utility token of KuCoin. 
  • Launched in 2017, cryptocurrency exchange KuCoin offers more than 700 digital assets for trading.
  • It also provides spot trading, margin trading, futures trading, staking, and lending. 

KuCoin Token's (KCS) price rose on Wednesday morning ahead of its Polkacity Metaverse party at 7:00 pm ET. The Metaverse party-related campaign ended on July 18, 2022. The platform kept 500,000 POLC tokens and 50 KuCoin Bugatti NFTs for users to win by participating and qualifying for the rewards. 

The token price rose 3.86% to US$10.51 at 9:10 am ET, while its trading volume declined by nearly 25%.

Launched in 2017, cryptocurrency exchange KuCoin offers more than 700 digital assets for trading and provides spot trading, margin trading, futures trading, staking, and lending. 

In May this year, it raised US$150 million in a funding round and was valued at US$10 billion. 

What Is KuCoin Token (KCS)?

KCS is the native utility token of KuCoin. It was launched as a profit-sharing token that allows traders to draw value from the exchange. This ERC20 standard utility token is supported by most Ethereum wallets and used to pay trading fees on the exchange as well as get discounts. It is also used as a payment method for buying gaming equipment, shopping, making hotel reservations etc. 

Its current market capitalization is US$1.03 billion, with a circulating supply of 98.38 million KCS. Its total supply stands at 145.88 million. 

The token is available for trading on the crypto exchange, including KuCoin, AscendEX (BitMax), ProBit Global, and HitBTC.  

Data Source: Coinmarketcap.com

KuCoin Exchange:

According to the site, the KuCoin Exchange platform has more than 20 million global investors, having performed 934 million trades. The crypto exchange offers services through the website and the KuCoin app available on iOS, Google Play, and Android APK. 

Its customer support is available in more than 20 languages to help users worldwide. 

In Q3, 2022, the exchange plans to deploy KuCoin Futures Trading System 2.0 and Portfolio Margin and expand in terms of volume and number of addresses, markets, and social media followers in the fourth quarter of this year, say its roadmap. 

KCS Bonus is one of the best ways for all KCS holders to earn passive income. Any user with more than 6 KCS can get a daily dividend income from KuCoin’s fee revenue from daily trading. So, KCS token holders can earn just by holding KCS tokens, which is linked to the number of tokens held and trading volume on the KuCoin Exchange. 

Bottom line:

The Crypto market has many projects, including crypto exchanges. KuCoin exchange has grown fast since its launch and serves users in more than 200 countries. Still, to invest through the exchange and in the exchange token are two different things, and the investor must exercise caution while investing in the dynamic cryptos. 

 

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