KuCoinone of the biggest cryptocurrency exchanges in the world, achieved some impressive growth figures in the first quarter of 2022, the People’s Exchange reveals in a new document published on May 17.
A definite chill has drifted in the air of the #crypto market in Q1 2022, though #KuCoin continued to grow at a rapid pace:
✅ Cumulative trading volume exceeded $1 trillion
✅ 6 million new registered users, up 491% YoY
✅ The number of active users increased by 451% YoY— KUCOIN (@kucoincom) May 17, 2022
The rapidly growing bitcoin (BTC) The stock market achieved several important milestones in the past quarter of this year, which we go through below.
Number of users increases almost 500%
First pulled KuCoin almost 6 million new users in Q1 2022, a growth of 491% compared to last year. Most of the new users came from Asia, where even a growth of 1,500% took place. In Europe, growth was 219%. The number of active users also increased by 451% compared to a year ago.
In addition, KuCoin’s Twitter channel has grown rapidly in recent times. The channel saw an increase of 320,000 new followers to a total of 1.6 million. KuCoin also operates multiple communities, the total of which has grown to 23 with no fewer than 580,000 community fans.
Trading volume soars past $1 trillion
KuCoin further reports that the total trading volume on the exchange soared past $1 trillion in Q1 2022. Average daily volume is $11 billion. KuCoin even peaked at $24 billion in one day, of which more than $9 billion was in spot trading and nearly $15 billion in futures trading.
Finally, the report states that KuCoin also greatly improves the user experience with KuCoin Earn with the addition of a large number of cryptocurrencies and stablecoins†
According to KuCoin, the recent unveiling of the KCS white paper a major turnaround for the exchange. This included the distribution of KCS, the deflationary mechanisms, and more revealed. The continued development of the KuCoin Community Chain (KCC), a community-built decentralized blockchain, will greatly impact KCS, the exchange reports.
KuCoin recently raised $150 million in a Series B financing round that now values the company at a staggering $10 billion.
