kucoin: KuCoin volumes more than double the existing crypto-m-cap in H1

by Arthur · July 12, 2022

The cryptocurrency exchange KuCoin has released its semi-annual report for the current calendar year, in which it claims volumes reached $ 2 trillion.

The Seychelles headquarters exchange has added 9.75 million new users during the period, with the total number of users crossing the 18 million mark, according to the report.

The total volumes, including both spot and futures, are more than double the total market value of the cryptocurrency, and have been struggling to hold the $ 1 trillion mark for about a month now. This shows a growth of 180 percent compared to the same period in 2021.

The exchange recently secured $ 150 million in the pre-Series B financing round from Jump Crypto, Circle Ventures, IDG Capital and Matrix Partners, bringing the valuation to $ 10 billion.

Top trading volume for spot was recorded at $ 11 billion, while futures reached $ 23 billion. Crypto-commerce and adoption are increasing sharply, the report showed.

Compared to the same period last year, the European market led the first half of 2022 with 481 billion dollars in trading volume, up 381 percent, while Latin America achieved 453 billion dollars with an increase of 189 percent. Asia, Europe and the Middle East were the best contributors in terms of users. Asia added 5.6 million new users to the platform, which is 660 percent higher than the year before. Other regions delivered 140-210 percent growth.

KuCoin, calls itself a “People’s Exchange” and employs more than 1,000 people worldwide. The company recently denied layoffs and said it plans to add technology, compliance and marketing staff.

The exchange, which was launched in September 2017, added around 137 new tokens during January to June 2022 when the total number of assets listed on the platform reached the 700 limit.

This includes 31 world-listed cryptocurrencies, five asset listings on the exclusive token launch platform Spotlight and five projects launched on Burningdrop.

KuCoin Labs also invested a total of $ 20 million in 19 crypto-native projects in H1 of 2022, which further promoted the exchange’s penetration of decentralized space. On the innovative product frontier, KuCoin launched NFT Marketplace – Wind Vane and a $ 100 million Creators Fund to

Web 3.0 exploration.

Another major release was the KuCoin Wallet, which officially went live as a user-friendly crypto wallet that supports multi-chain aggregation powered by KuCoin