KuCoin User Quarterly Growth Up 1144% With Accumulated Volume Over $400 Billion

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Aug 30, 2021, 05:52 ET

VICTORIA, Seychelles, Aug. 30, 2021 /PRNewswire/ -- KuCoin, a global leading crypto exchange, are thrilled to announce that the total number of new users in Q2 2021 exceeded two million, with unprecedented quarter-over-quarter growth of 1144%, and a year-on-year increase of 709%.

To date, KuCoin has executed 810 million transactions and the accumulated transaction volume attained a value of $400 billion. Over the past year, the average daily trading volume has grown by 791% and now stands at $4.3 billion.

In particular, the number of mobile users of KuCoin is also growing, as the number of installs experienced a growth of 755% compared to last year. In the second quarter of 2021, 1.07 million installs were made — a 178% increase quarter-over-quarter. In total, 54% of traders are currently mobile users of the platform. Mobile trading surpassed the metrics of the web version of the exchange for the first time. Such dynamics may be also driven by the growing demand for payment services among merchants around the world as well as the spreading use of mobile and contactless payments.

The number of women using the platform has tripled over the past six months. Quarterly growth of new female users stands at 120%, with annual growth being 350%, contributing to the rapid growth seen across the crypto market this year. Such a mass influx was made evident not only by the growth of accounts registered by women, but also by the growth of the deposits they made compared to the same period last year. If a year ago the share of female traders was only 12% versus 88% of men, today 38% of its users are women.

"Over the past year, we made immense progress in onboarding new users and creating an easy entry for both men and women. To achieve such growth KuCoin specifically has been providing its users with educational guides, 101 sections, as well as holding AMA sessions with the CEO," said Johnny Lyu, CEO of KuCoin, "we have also launched a number of new crypto services allowing users with minimal understanding of crypto to get boarded in trading easily. We firmly believe that one day everyone will get involved with crypto, and we will contribute to making it happen."

Based on an analysis of spot traders, it is found that every fourth (25%) user of KuCoin platform uses trading bots when trading on the exchange, and the trend continues to grow. A quarter ago the number of trading bots users was 23%, while a year ago, only 15% were using trading bots. The growth comes after the launch of KuCoin trading bot in January of 2021. Today, over 2.8 million KuCoin trading bots have been created. This number will likely increase with the growth of the number of users and their trading balances, and the increasing demand for automated trading tools capable of coping in the face of market volatility.

In 2021, KuCoin is continuing to spread into new regions and markets, adopting the technology on a national scale in developing countries of Latin America, Africa, and Asia, with QoQ growth of users — 171.93%, 130.16%, and 67.5% correspondingly. The exchange is seeing the fastest adoption rates in places with high inflation and easy access to mobile phones. The latest data shows that the African crypto market ushered in a major outbreak in the second quarter of 2021. The trading volumes contributed by KuCoin's African users increased by 20 times in the second quarter of 2021 compared to the same period of the last quarter. Correspondingly, it has also launched highly localized services for African users at a very early stage.

The latest growth and endeavours of KuCoin have also been noticed by the industry. Earlier this year, KuCoin has been named as one of the Best Crypto Exchanges of 2021 by Forbes Advisor. On Coinmarketcap, it is now the fifth biggest platform with over 400 coins and 827 trading pairs.

About KuCoin

Launched in September 2017, KuCoin is a global cryptocurrency exchange for over 400 digital assets. It currently provides Spot trading, Margin trading, P2P fiat trading, Futures trading, Staking, and Lending to its 8 million users in 207 countries and regions around the world. In 2018, KuCoin secured $20 million in Round A funding from IDG Capital and Matrix Partners. According to CoinMarketCap, KuCoin is currently the fifth biggest crypto exchange. In 2021, Forbes named KuCoin as one of the Best Crypto Exchanges of 2021. For more information, please visit www.kucoin.com.

SOURCE KuCoin