KuCoin is a digital asset directly related to an exchange - and now sees a dramatic spike in prices
While all eyes seem to be on Binance, KuCoin is yet another experimental exchange with a proprietary token, KuCoin Shares (KCS). KuCoin competes to list new and booming digital assets, and the KCS coin has seen rapid appreciation.
In the past weeks, KCS has retreated a bit, but the more active trading and upcoming listings on KuCoin may lead the asset to appreciate, depending on demand.
KCS brings liquidity to pairs with Bitcoin, Bitcoin Cash, Ethereum and others. But there is also a voting option for adding new assets:
Tron TRX is #3 in the Kucoin voting poll, hopefully Tron will be listed on Kucoin!#tron #trx $trx #kucoin #exchange #poll
Some coins have seen rapid appreciation on rumors of a KuCoin listing. KuCoin already lists 184 digital assets.
However, a word of warning is needed. As KuCoin constantly expands trading pairs, some digital assets may have a lesser quality. KuCoin even listed Confido, the failed ICO where the founders disappeared and this led to the coin losing 99% of its value.
KuCoin also aggressively advertises its trading platform with Bitcoin giveaways, token airdrops, or even car giveaways. Right now, KuCoin starts to look like NovaCoin, the one-stop-shop for all kinds of exotic digital assets.
The difference is that KuCoin bets on the success of ICO tokens, while Nova Exchange, which would be closing down this April, hosted the previous crop of niche digital assets, theme and meme coins and similar payment projects.
KuCoin has also listed some of the recent Bitcoin forks:
Today Bitcoin Diamond (BCD) hade a HUGE spike on Kucoin, we just want to remind all our users and people investing in Cryptocurrency to invest rationally and manage your investments with control.
— KUCOIN (
Compared to KuCoin, Binance has a more balanced approach, with a smaller and more careful selection of tokens based on community voting. Binance received a boost from the recent success of TRON (TRX), which increased the exchange's public profile to a level where it had to close for new registrations.
KuCoin, however, may be behind the spike in digital assets such as VeChain. It is notable that KuCoin trading pair volumes are relatively low, up to USD 7 million in 24 hours. For some of the traded assets, this may be rather thin, and mean insufficient liquidity and big price fluctuations.
KuCoin should be approached with caution, as the exchange still may have glitches and delays with coin deposits and withdrawals. Still, KuCoin may remain an important force in shaping the image of many new digital assets.