KuCoin Exchange Has Reported a 1,500% Year-Over-Year Increase in Asian Users
KuCoin released a thorough Q1 report, showcasing the exchange's accomplishments and significant milestones.
JUST IN: KuCoin exchange has reported a 1,500% year-over-year increase in the number of Asian users.
— Watcher.Guru (@WatcherGuru) May 17, 2022
The comprehensive analysis also highlighted the key reasons that aided KuCoin's achievement of crucial milestones. The article began by mentioning its spot and futures trading, which had a trading volume of more than $1 trillion. The daily amount of transactions was considerably over $11 billion.
The significant increase in the number of newly registered users is one of the important successes noted by the exchange in its report.
KuCoin witnessed a massive growth in the number of users
The great majority of users came from Asia, Europe, the Middle East, and Africa, according to the report's findings. The nations rated first through third in terms of user inflows.
Asia leads the pack with a 1,503 percent year-over-year rise in the number of registrations. The Middle East and Africa accounted for 300 percent of new users, while Europe accounted for 219 percent. Overall user interaction has climbed by 451 percent year over year, according to the statistics.
KuCoin's impressive results can be attributed to its growing number of sponsored projects and coins. KuCoin introduced stablecoins and 35 new assets to its portfolio over that span, in addition to 44 cryptocurrencies and 59 trading pairs.
The exchange also had an impressive web presence. Its social media platforms have seen significant development, particularly Twitter, which now has 1.6 million followers after adding over 320,000.
The publishing of the exchange's revised whitepaper is another significant achievement. The paper, which was released on March 29, asserts that the exchange is entering a new age and goes into considerable detail about token distribution schemes and deflationary measures.
Several new collaborations, including Xangle and Blocktopia, were also announced by KuCoin. KuCoin Labs, the exchange's investment arm, has grown to include stakes in nine crypto ventures and two private equity firms.
According to the study, the significant expansion was made possible by the company's expanding workforce base and skill. Over 1,000 people work for the exchange throughout the world.