KuCoin, a global cryptocurrency exchange , released its metrics for the first quarter of 2022, noting that its cumulative trading volume exceeded $1 trillion for spot and futures trading, with an average daily volume of over $11 billion.
According to the report, KuCoin Spot traded at a daily peak of $9 billion, and KuCoin Futures reached close to $15 billion.
In Q1 of 2022, the exchange added nearly 6 million new users, which is an increase of 491% year over year. In terms of user growth, Asia, the Middle East & Africa and Europe ranked first, second, and third, respectively. Registrations in Asia increased by 1,503% from last year. The Middle East & Africa and Europe have seen increases of 300% and 219%, respectively. As the number of active users increased by nearly 451% year-over-year, user activity has increased significantly in Q1 of 2022. As a result, the KuCoin community has gained over 320,000 new followers on Twitter, reaching a total of 1.6 million followers. In addition, KuCoin has increased the number of its global communities to 23, including 580,000 fans.
Whitepaper Released
“The release of the KCS Whitepaper on March 29 is stated to have heralded a new era in the development of the exchange. The KCS Whitepaper outlined token distribution percentages, the deflationary mechanisms involved, and the essence of the self-circulating ecosystem. The development of the KuCoin Community Chain, or KCC, will become an important booster for KCS. KCC, a decentralized public chain built by the fans of KCS and KuCoin’s fan communities, will expand the decentralized use case for KCS, including paying KCS as gas fees or resource consumption fees, staking KCS to empower liquidity mining and more,” the company noted.
As far as user experience is concerned, KuCoin Earn has added stablecoins, major coins and new projects in 35 asset categories. In addition, during the first quarter of 2022, KuCoin listed 44 crypto gems and 59 trading pairs, 19 of which are world premieres.
