A unique token for the KuCoin crypto asset exchange, KuCoin Shares can only be traded on the KuCoin platform. It may be exchanged into prominent crypto currencies including ETH, BTC, USDT, NEO, DRGN, and LTC. Holders receive incentives from the token by receiving a part of exchange costs.
The process of actually buying a cryptocurrency is more difficult than it appears. Anyone can make a mistake when setting up a wallet, an exchange account, and validating everything while saving and protecting pins. It’s much tougher to exchange cryptocurrency after you have it. One of the various cryptocurrency exchanges available is called KuCoin, and it only became operational in August 2017.
Even though KuCoin is new, its team, which comprises veterans of the blockchain dating back to 2011, includes GF Securities, Ant Financial, Youling, Jianbang Communication, and iBOX PAY. Its design is straightforward, and withdrawal costs are as low as.0005 BTC,.001 LTC, or.01 ETH. Others are free, such as NEO and GAS. And there is always customer help available.
KuCoin not only has all the necessary components in place for future success, even in its infancy, it is already a successful project. Let’s examine KCS, KuCoin’s own ERC-20 token, on the market before examining KuCoin’s feasibility as a cryptocurrency exchange.
Prices of Coin
KuCoin Token’s current value is $6.31, and KCS is now rated No. 68 in the whole crypto ecosystem, according to the most recent information obtained. The market capitalization of KuCoin Token is 96,794,195 KCS, and its circulation supply is $610,612,010.25.
The cryptocurrency’s current value has grown by $0.02 during the last 24 hours. KCS has been on a strong upward trend over the past week, rising by 5.77%.
Recently, KuCoin Token has demonstrated very significant potential, therefore now would be a good time to jump in and make an investment. The cost of KCSh has climbed by 6.92% over the past month, adding an enormous average of $0.44 to its present worth.
One of the top international cryptocurrency exchanges, KuCoin Token (KCS) is a cryptocurrency that is native to the KuCoin exchange platform. As a profit-sharing token that enables traders to gain from the exchange, the KCS was introduced in 2017. The token also offers a novel method of passive income generation by sharing in a tiny portion of the platform’s trading profits.
There are several Ethereum wallets that support the token. Additionally, the token offers a lower trading charge on the exchange. Additionally, Kucoin regularly burns tokens, which lowers the supply and raises the value.
The total quantity of KuCoin is 180,730,576 KCS. Its most recent high point came on January 12, 2018, at $20.84.
The fee for KuCoin is 0.1 percent. 50 percent of the fees are given to customers as bonuses for referrals and trading, while 10 percent of trade fees are retained for network improvements and advertising. If you hold into KCS for a long enough period of time, you may theoretically recoup half of those costs through the dividend mechanism.
Trading pairings include several of the currencies accepted on the KuCoin market, including BTC, USDT, ETH, XRP, EOS, LTC, NEO, CS, GO, and MTV. Every day, almost $4 million worth of KCS is exchanged.
Analysis
At this time, the price of KuCoin Token is trading below the 200-day SMA. Since April 30, 2023, the 200-day SMA has been indicating SELL for the last 71 days.
Since June 18, 2023, when KuCoin Token’s price fell below the 50-day SMA, this indicator has been indicating a SELL signal for the last 22 days.
On June 3, 2023, 37 days ago, the Bitcoin market saw its most recent Death Cross. The most recent Golden Cross was on March 2, 2023, or 130 days ago.
Our technical indicators predict that KuCoin Token’s 200-day SMA will decline during the coming month and reach $ 7.68 by August 9th, 2023. The short-term 50-Day SMA for KuCoin Token is predicted to reach $6.48 on August 9th, 2023.
RSI
A well-liked indicator for determining if a cryptocurrency is oversold (below 30) or overbought (over 70) is the Relative Strength Index (RSI) momentum oscillator. The KCS market is in a neutral position at the moment since the RSI reading is 38.98.
Pivot point: Based on the price of today’s traditional pivot point (P1) of $6.31, KuCoin Token has support levels of $6.26, $6.23, and $6.17, with the latter being the strongest. The resistance levels for KuCoin Token are $6.35, $6.40, and $6.43.
Levels:
Primary Support: $6
Major Barrier: $8
On the weekly chart, the price of the KuCoin cryptocurrency has been in a little negative trend. It has been moving in an upward recovery on the daily chart, but it has stopped close to a critical level. KCS is now up slightly during the intraday session and trading close to the price of $6.6. Near the price of $8, the upward trend in KCS pricing may come to a stop. In the meanwhile, the coin price is supported around $6. The price of the asset is currently below both the 50- and 100-day moving averages. A substantial upward trend in the future can be detected if the price surges beyond the threshold.
Prediction
Price Forecast for KuCoin Tokens in 2023
The minimum price of KuCoin Token will be $7.18, according to a technical analysis of prices anticipated in 2023. The KCS price might go up to a maximum of $8.45. The predicted average trading price is $7.50. ROI potential: 33.9%
Price Prediction from KCS for July 2023
Crypto experts predict that the average KCS rate will be $6.66 in July 2023 based on the price variations of KuCoin Token in the beginning of 2023. The projected lowest and maximum prices are $6.02 and $6.85, respectively. ROI potential: 8.6%
Conclusion
There have been no noticeable changes in the amount of transactions or user engagement for KuCoin. The price of the KCS token is rapidly recovering and is expected to reach a new high in the near future.
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