- Over $1 trillion was traded in spot and futures trading.
- There was a 1,503 percent year-over-year rise in people registering from Asia.
During the first quarter of the year, KuCoin released an in-depth report on the exchange’s progress, detailing the exchange’s major accomplishments. As part of its in-depth assessment, KuCoin’s success has also been attributed to: Over $1 trillion was traded in spot and futures trading. The daily transaction volume exceeded $11 billion for the first time.
Multiple Key Developments
The significant increase in the number of newly registered users was one of the exchange’s primary successes, as noted in its report. Most users were from Asia, Europe, the Middle East, or Africa. These nations were in the top three places for the number of new users.
There was a 1,503 percent year-over-year rise in people registering from Asia. The Middle East and Africa had a 300 percent increase in new users, while Europe saw a 219 percent increase. The data shows a 451% year-over-year increase in total user engagement.
One of KuCoin’s most important accomplishments was increasing the number of projects and currencies it supports. KuCoin has added stablecoins, 35 new assets, 44 cryptocurrencies, and 59 trading pairs to its portfolio. In addition, the exchange had a large following. Its social media networks have seen significant development, particularly Twitter, which now has gained over 320,000 followers and has a following of 1.6 million.
Additionally, the exchange’s new whitepaper has been released. There is much detail in the paper, which was released on March 29, on token distribution schemes and deflationary approaches, claiming that the exchange is opening up a new phase.
