KuCoin launches decentralized crypto wallet, can it boost KCS price?

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kucoin kcs

KuCoin KCS/USD is a large cryptocurrency exchange that offers any user the ability to essentially buy, sell or trade cryptocurrencies. Additionally, the platform even offers margin, futures, and peer-to-peer (P2P) trading.

KCS is the native cryptocurrency token used on the exchange, which came out in 2017, and is a profit-sharing token that lets traders draw value from the exchange.

The launch of the decentralized crypto wallet as a catalyst for growth

On May 10, we covered how KuCoin raised $150 million in Pre-series B funding to expand its Web3 presence. 

On June 1, KuCoin Wallet’s official Medium page made an announcement of the launch of the official website for the wallet.

Then on June 2, 2022, KuCoin Wallet announced that the applications for its beta testing had started. People were given the opportunity to fill in their email addresses and gain a slot on the whitelist.

According to the announcement, the exchange aims to harness the opportunities which are presented by Web3 through this wallet and enable integration as well as transfers between countless hosts within the decentralized world.

Aside from letting users create a decentralized account within seconds, the KuCoin wallet also enables top-grade encryption with the intention of enabling a high level of safety of the user’s assets.

It also supports KuCoin’s multi-chain ecosystem, and users can transact and store a variety of different cryptocurrencies, including BTC, ETH, USDT, USDC, and BNB, among others.

Should you buy KuCoin (KCS)?

On June 2, 2022, KuCoin (KCS) had a value of $19.32.

kcs usd

In order for us to get a better perspective about what kind of value point this is for the KCS cryptocurrency, we will be going over its all-time high point of value, as well as its performance throughout the previous month. 

The all-time high of the KuCoin (KCS) cryptocurrency was on December 1, 2021, when the token reached a value of $28.83.

When we go over the performance of the token throughout the previous month, KuCoin (KCS) had its highest value on May 4 at $18.41, while its lowest value was on May 12 at $9.43.

Here we can see that the token decreased in value by $8.98 or by 49%. However, from May 12 to June 2, the token has increased in value by $9.89 or by 105%.

With this in mind, we can expect KCS to reach a value of $26 by the end of June 2022.

The post KuCoin launches decentralized crypto wallet, can it boost KCS price? appeared first on Invezz.

from Market Analysis – Invezz

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