KuCoin Delays KARRAT/USDT Trading Pair; Reports Robust Q1

by

KuCoin has postponed the launch of the KARRAT/USDT trading pair based on a request from the Karratcoin project. The reason for the delay, however, was not specified by KuCoin in their announcement. This decision was made amidst KuCoin reporting strong financial performance in Q1.

KuCoin Reports Growth in Q1

In Q1 2024, KuCoin cryptocurrency exchange experienced substantial expansion in various aspects of its operations. The trading volume for spots saw a remarkable rise of 121.85%, with the MENA region recording the most impressive growth of 263.91% in this category. Pre-market trading volume also witnessed a notable surge, reaching 23.12 million or 68% higher than the previous quarter’s figure. Furthermore, the exchange welcomed over 13,500 new unique users, marking a 47% increase from the previous quarter.

By Q1 2024, KuCoin witnessed a 4.32% growth in its user base compared to the last quarter, bringing the total number of registered users close to 32 million. This significant surge underscores the popularity and high-quality offerings of our platform, catering to Bitcoin investors at various experience levels – from newcomers to veterans.

KuCoin’s Latin America Division Leads Growth

The Latin American region experienced a noteworthy 16.26% expansion in Q1 2024, marking the most substantial user base growth for KuCoin. Furthermore, there were notable increases in key regions during the same period. The Middle East and Africa registered a growth of 11.29%, while Europe saw an uptick of 6.98%.

In the opening three months of 2024, there was a significant surge in spot trading transactions, marking a 121.86% rise compared to the previous quarter (Q4) of 2023. Likewise, striking growth was observed in Africa and the Middle East, with increases of 263.91%.

KuCoin Token Sees Wider User Acceptance

During the first quarter of 2024, there was significant growth for KuCoin’s token KCS. Approximately 2 million new holders joined the ranks, representing a 4.06% increase compared to the preceding quarter. Holders of KCS enjoy several benefits, including discounted trading fees and access to various platform features like lending, liquidity mining, and staking.

At the current moment, KCS was priced at $8.4403 due to the favorable outcome, with a 24-hour trading volume of $2.5 million. The cryptocurrency experienced a 3.31% increase within the last day. KuCoin Token’s price range was between $8.5 and $8.3. Its market capitalization in real time was valued at $811.4 million.

Read More

2024-04-19 10:18