Leading the top crypto gainers today (Thursday) is
KuCoin Token (KCS), a digital asset linked to the Seychelles-based crypto
exchange KuCoin. According to its description on CoinMarketCap, the crypto enables
traders to draw value from the exchange.
Ranked #72 with a market valuation of $1.4 billion,
KuCoin gained 6% and 8% in the past day and week, respectively to currently
trade at $11.98. In the past 24 hours, KCS’ trading volumes have soared 148% to
more than $3 million.
Other tokens among the top gainers include GateToken
(GT) and XDC Network, which have jumped 3% and 2.5%, respectively, in the past
24 hours. On the flip side, the recently much-celebrated $TRUMP meme coin is
among the top losers of the day, having dropped 18% in the past day alone.
Top gainers, Source: CoinMarketCap
President Trump recently intensified his involvement with
digital assets ahead of his January 20 inauguration. His launch of a memecoin,
$TRUMP, boosted prices of most cryptocurrencies in the digital asset space.
However, the token has lost substantially in the past
day. At the time of publication, it traded at $35, representing a price drop of
13% in the past day. Amid the launch, the token initially soared to $74 from
just a few cents.
What’s Driving the KCS Rally?
While the exact reasons behind the sudden price surge
are difficult to pinpoint, several factors could be contributing to KCS’s
upward trajectory. Increased trading activity on the KuCoin exchange,
leading to higher trading fees and consequently larger dividend payouts for KCS
holders, could be a significant driver.
KuCoin Token, Source CoinMarketCap
KCS is the native token of the KuCoin cryptocurrency
exchange. It functions as a utility token, offering holders a range of benefits
within the KuCoin ecosystem.
Among the benefits are dividend payments: KCS holders reportedly
receive daily dividends from a portion of the trading fees generated on the
KuCoin exchange. Other benefits include significant discounts based on
trading fees.
According to the company, KCS holders can also access exclusive trading pairs and other platform benefits. Thus, KCS presents an interesting investment opportunity
for those interested in the KuCoin ecosystem.
Leading the top crypto gainers today (Thursday) is
KuCoin Token (KCS), a digital asset linked to the Seychelles-based crypto
exchange KuCoin. According to its description on CoinMarketCap, the crypto enables
traders to draw value from the exchange.
Ranked #72 with a market valuation of $1.4 billion,
KuCoin gained 6% and 8% in the past day and week, respectively to currently
trade at $11.98. In the past 24 hours, KCS’ trading volumes have soared 148% to
more than $3 million.
Other tokens among the top gainers include GateToken
(GT) and XDC Network, which have jumped 3% and 2.5%, respectively, in the past
24 hours. On the flip side, the recently much-celebrated $TRUMP meme coin is
among the top losers of the day, having dropped 18% in the past day alone.
Top gainers, Source: CoinMarketCap
President Trump recently intensified his involvement with
digital assets ahead of his January 20 inauguration. His launch of a memecoin,
$TRUMP, boosted prices of most cryptocurrencies in the digital asset space.
However, the token has lost substantially in the past
day. At the time of publication, it traded at $35, representing a price drop of
13% in the past day. Amid the launch, the token initially soared to $74 from
just a few cents.
What’s Driving the KCS Rally?
While the exact reasons behind the sudden price surge
are difficult to pinpoint, several factors could be contributing to KCS’s
upward trajectory. Increased trading activity on the KuCoin exchange,
leading to higher trading fees and consequently larger dividend payouts for KCS
holders, could be a significant driver.
KuCoin Token, Source CoinMarketCap
KCS is the native token of the KuCoin cryptocurrency
exchange. It functions as a utility token, offering holders a range of benefits
within the KuCoin ecosystem.
Among the benefits are dividend payments: KCS holders reportedly
receive daily dividends from a portion of the trading fees generated on the
KuCoin exchange. Other benefits include significant discounts based on
trading fees.
According to the company, KCS holders can also access exclusive trading pairs and other platform benefits. Thus, KCS presents an interesting investment opportunity
for those interested in the KuCoin ecosystem.
