KCS is the native token of a leading cryptocurrency exchange KuCoin. KuCoin constitutes one of the highest daily volumes of trades across all exchanges in the world.
KCS stands from KuCoin Shares. Founded in Seychelles in 2017, KuCoin has been constantly providing a seamless user experience to all its users. It has a variety of products like Spot, Margin, Futures, Spotlight( IEO), Staking, Lending, etc. The volume of trades on the exchange has been constantly growing and it will soon start reflecting in KCS price.
Global Ranking
KuCoin’s spot exchange volume in the past 24 hours was $789. It is currently ranked 7th as per coinmarketcap in daily spot volume. It’s average liquidity score is 324 with over 400,000 daily visitors on their website. KuCoin has over 600 markets covering 280 coins. Many exchanges target their local regions but KuCoin is truly global just like Binance since it has a wide global outreach.
Other Exchange Tokens
Just like KuCoin, many other exchanges also have their native tokens. As you can see from our previous article, KCS is still far away from its all time high and we could start seeing a multi-fold price increase in the value of KCS. It’s all time high price is $20.17 (Jan 10, 2018) and it currently trading at $4.85 which is almost 75% lower than the ATH price. This shows that KCS has a good scope of making a bullish run. Its market cap is $ 387,273,201 and its 24 hour trading volume was $30,722,221.
Let’s see the market cap of the native tokens of the other top tier exchanges.
BNB (Binance) :$35,133,575,206
HT (Huobi) : $3,021,470,172
OKB (OkEx) : $4,306,000,504
LEO (Bitfinex) : $1,886,694,517
CRO (Crypto.com) : $3,675,800,906
Taking Binance as an example, the trading volume on Binance is 30 times higher than that on KuCoin but the market cap of BNB is 100 times higher than that of KCS. This shows that there is a good scope for an exponential growth in the value of KCS.
Trading Fee Rebates
KuCoin shares 50% of its overall trading fee revenue daily with users who hold KCS. If you refer someone to KuCoin, you also share a percentage of the trading fee of your referrals. Some decent altcoins has made huge gains in 2020, such as MIR, DEGO, LUNA, etc. KCS can be used for trading fee deduction for trading those coins
Staking
The APR for just simply holding KCS as passive income is as high as 20%-30%.
Spotlight
People holding KCS can bid for their IEO via their spotlight platform. These IEOs are carefully vetted and the risk involved in investing in Spotlight IEOs are very low and returns are very high.
Exchange Listing and Future Roadmap.
KuCoin plans on listing KCS on at least 5 top tier exchanges by 2021. “Empowering KCS” will be the key priority for KuCoin’s strategic development in 2021 and beyond. In KuCoin CEO’s public letter on Feb 4th, 2021, he believes KCS has been undervalued by the market, and with the implementation of related work, KuCoin is confident that KCS will enter the top 30 or even the top 15 of total market cap in 2-3 years. It means KCS investment potentials can be 6x or even higher based on the current price. KuCoin CEO also said more value will be empowered to KCS in this year, such as launch KCS futures trading, use KCS to farm newly listed altcoins, so on and so forth.
Now let us review the KCS chart and predict KCS price based on technical analysis.
KCS/USD – Price Prediction
KCS broke a good support of $1.89 on the weekly graph in the first week of August 2018 and ever since it was struggling to break this support turned to resistance. It made various attempts to break this resistance in April, June, July, September and November 2019 but got rejected every time. Finally, in February, it broke this resistance of $1.89 and quickly jumped by over 300% in a week into the resistance of $6.60. If this resistance at $6.60 can be broken, we could start seeing a move towards the next fib and coinciding resistance at $10.88. Breaking this resistance could lead to a move towards the higher fibs at $13.37, $16.91, $21.43 and $34.47.
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