KuCoin Reports 491% YoY New Users Growth in Its Q1 2022 Review
VICTORIA, Seychelles–(BUSINESS WIRE)–The global cryptocurrency exchange KuCoin has released an extensive review of the platform’s performance in the period of Q1 of 2022. The document outlines some of the major milestones the exchange achieved and highlights some general performance statistics.
The report indicates that KuCoin’s cumulative trading volume exceeded $1 trillion for spot and futures trading, with an average daily volume of over $11 billion. In terms of the daily peak trading volume, KuCoin Spot exceeded $9 billion, and Futures reached nearly $15 billion.
The exchange attracted nearly 6 million new registered users in 2022 Q1, up 491% year-over-year. Asia, the Middle East & Africa and Europe ranked the top 3 in terms of user growth. Asia led the statistics with user registrations up 1,503% year-over-year. The Middle East & Africa and Europe are up 300% and 219%, respectively. User activity has also increased significantly in 2022 Q1, with the number of active users increasing by nearly 451% year-over-year.
The KuCoin community has seen a considerable boost, with the Twitter channel gaining over 320,000 new followers, reaching a total of 1.6 million. KuCoin increased the number of its global communities to 23, including 580,000 community fans.
The release of the KCS Whitepaper on March 29 is stated to have heralded a new era in the development of the exchange. The KCS Whitepaper outlined token distribution percentages, the deflationary mechanisms involved, and the essence of the self-circulating ecosystem. The development of the KuCoin Community Chain, or KCC, will become an important booster for KCS. KCC, a decentralized public chain built by the fans of KCS and KuCoin’s fan communities, will expand the decentralized use case for KCS, including paying KCS as gas fees or resource consumption fees, staking KCS to empower liquidity mining, and more.
On the user experience frontier, KuCoin Earn has added stablecoins, major coins and new projects in 35 assets options. KuCoin has listed 44 promising crypto gems and 59 trading pairs in Q1 of 2022, 19 of them being world premieres.
KuCoin has also achieved traction in partnerships, establishing relations with the Xangle virtual asset information disclosure and data research platform. The exchange partnered with Blocktopia, founding its first virtual office in the metaverse. KuCoin Labs has been expanding its investment footprint in Q1, including investments in nine crypto-native projects and the subscription of two crypto private equity funds amounting over ten million. KuCoin Labs also announced a strategic investment in MojitoSwap, the biggest DEX build on KCC.
With its team of talent nearing 1,000 personnel distributed across the world, up by over 200, KuCoin has performed well throughout Q1 of 2022. The data evidenced in the recent Into The Cryptoverse Reports released by KuCoin covering Germany, Turkey, and Africa also suggests that the exchange expects higher adoption and user engagement rates for the rest of 2022, despite the onset of the ‘crypto winter’.
About KuCoin
Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with focus on inclusiveness and community action reach, it offers over 700 digital assets, and currently provides spot trading, margin trading, P2P fiat trading, futures trading, staking, and lending to its 18 million users in 207 countries and regions.
In 2022, KuCoin raised over $150 million in investments through a pre-Series B round, bringing total investments to $170 million with Round A combined, at a total valuation of $10 billion. KuCoin is currently one of the top 5 crypto exchanges according to CoinMarketCap. Forbes also named KuCoin one of the Best Crypto Exchanges in 2021. In 2022, The Ascent named KuCoin the Best Crypto App for enthusiasts.
To find out more, visit https://www.kucoin.com.
Contacts
Ashley Wang
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