KuCoin secures $10M investment from SIG, will this lead to an increase of KCS?

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kucoin kcs

KuCoin (KCS/USD) is one of the largest cryptocurrency exchanges on a global scale that gives users access to buying, selling, and trading cryptocurrencies.

The platform also offers margin, futures, and peer-to-peer (P2P) trading.

KCS is the native cryptocurrency utilized throughout KuCoin and was issued as an ERC-20 token. It can be used for the process of paying for the trading fees on the KuCoin exchange, where users can get discounts alongside participation in token sales.

The $10 million SIG investment as a catalyst for growth

On July 21, 2022, KuCoin announced that it had secured a strategic investment from SIG.

Alongside the $10 million investment, the two parties will essentially begin collaborating in blockchain startup incubation and KCS and KCC ecosystem building.

SIG is a global quantitative trading firm and is an expert in trading all listed financial products and asset classes; however, it puts a specific focus on derivatives and also handles millions of transactions on exchanges on a global scale daily.

KuCoin has developed into a top 5 crypto exchange on a global scale with over 20 million users and aims to use these funds to upgrade platform infrastructure and enrich the product lineup.

Furthermore, this capital will also support KuCoin’s global expansion and hiring plan.

All of this can lead to higher demand, utility, and value for the KCS cryptocurrency.

Should you buy KuCoin (KCS)?

On July 22, 2022, KuCoin (KCS) had a value of $10.32.

kcs usd 2

When we go over the all-time high point of value for the KCS cryptocurrency, we can see that the token reached a value of $28.83 on December 1, 2021.

However, when we go over the performance in June, we can see that KuCoin (KCS) had its highest point of value on June 1 at $17.84.

Its lowest point was on June 19 at $9.212. Here we can see that the token decreased in value by $8.628 or by 48%.

However, from June 19 to July 22, KCS has increased in value by $1.108 or by 12%.

With this in mind, we can expect KuCoin (KCS) to reach a value of $12 by the end of July 2022, making it a solid buy.

The post KuCoin secures $10M investment from SIG, will this lead to an increase of KCS? appeared first on Invezz.

from Market Analysis – Invezz

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