KuCoin trading volume passed $1T in 2021

In 2021, cryptocurrency exchange KuCoin experienced exponential growth in different areas. Its users topped 10 million, it listed more than 300 new tokens, and the price of its native token (KCS/USD) rallied by over 3100%. Invezz presents the highlights from KuCoin’s annual report.  

Average daily trading volume reached $3B

KuCoin’s cumulative trading volume on spot and futures trading exceeded $1 trillion, while the average daily trading volume peaked at $3 billion, up 11x from the previous year.

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KuCoin’s spot market share increased from 1.42% to 6.79%, while their share of the futures market grew from 0.48% to 3.09% over the 12 months of 2021, much more than the average for the industry.

Breaking 10M registered users

At the end of November 2021, KuCoin had more than 10 million registered users. User growth was 1100% year-on-year.

KCS reached ATH

Parallel to the exponential growth of the KuCoin ecosystem, KCS reached an all-time high of $28.77 on December 1. It grew by more than 31x in 2021.

Almost 350 new crypto assets listed

The exchange listed 348 new crypto assets in 2021, of which 80 were world premieres. KuCoin had listed over 630 tradable assets with 1100+ trading pairs at the time of writing.

Last year, KuCoin listed the most popular meme tokens, including Dogecoin (DOGE/USD), Shiba Inu (SHIB/USD), and Dogelon Mars. The metaverse has been trending since the middle of last year and KuCoin launched the first Metaverse Trading Board in September 2021. It supports The Sandbox (SAND/USD), Decentraland (MANA/USD), and another 17 metaverse tokens.

KuCoin Trading Bot increases profit

The exchange launched this free trading tool in early 2021, which helps increase profit and save time and energy. There are five types of Trading Bot strategies – Spot Grid, DCA, Futures Grid, Smart Rebalance, and Infinity Grid.

Fiat accounts enable low cost deposits

KuCoin’s fiat accounts are characterized by simple steps, low fees, and fast deposits. It aims to improve the trading experience by connecting the technical infrastructures of fiat-to-crypto transfers via digital wallets, banks, exchanges, and payment gateways seamlessly.

Users can make deposits in USD to their accounts with KuCoin via debit or credit card, then buy cryptocurrencies on the “Fast Buy” interface easily.

The first social trading platform in the industry

KuCoin began its transformation into the first social trading platform within the crypto industry in 2021. Prior to the official launch of the KuCoin App, KuCoin users can experience brand new social features such as recommended portfolios, crypto news feed, copy trading, trading strategies, and more.  

Leveraged token amplifies gains

The launch of KuCoin’s leveraged token marks the exchange’s further expansion in the crypto derivatives market. These tokens have neither margin requirements nor liquidation risks, making them a popular choice to amplify gains. They debuted in April last year and their monthly active users had increased by 810% by December. Last month, the number of new users increased by 420%.

KuCoin Pool provides top mining services for PoW

The exchange introduced its KuCoin Pool Platform in the final quarter of 2021 with the first launch of Bitcoin (BTC/USD) mining. Ethereum (ETH/USD) mining launched one month later.

KuCoin Pool provides top-grade crypto mining services for PoW mining by making it possible to integrate an individual hashrate in exchange for stable and sustainable mining rewards. In November, the ETH hashrate grew by 300%, passing 603G at its peak time. The BTC hashrate rose by 400% one month, peaking at 788p post-launch.  

Partnership with LINK brings accurate price reference data

Last year, KuCoin joined forces with industry-leading decentralized oracle network Chainlink (LINK/USD). The exchange integrated Chainlink Price Feeds to bring its OTC markets high-quality price reference data. KuCoin now provides access to reliable, tamper-proof exchange rates between fiat and crypto, helping set floating rates in OTC markets.

As the first step, KuCoin integrated INR/USD and USDT/USD Chainlink Price Feeds. More will follow to meet growing user demand.

Investment program upgrade

Last but not least, KuCoin upgraded its investment and incubation program in April 2021 with the launch of KuCoin Labs, their crypto market analysis and research institution. At that time, KuCoin also set up a $50 million fund to identify the next crypto gem and facilitate development of early-stage crypto projects.

KuCoin Labs has partnered with tens of well-known investment institutions, projects, and crypto companies so far, including Maven Capital, Hashed, IOSG, AU21, GBV, Launchpool, NGC, and A16Z to propel growth of the KuCoin ecosystem and accelerate the crypto industry.