KuCoin Token (KCS) will go bearish soon
KCS is leaving the strong buy zone.
KCS is at least 2,800% year-over-year.
KCS hits a new all-time high of $27.88.
Kucoin token was established back in September 2017 as a token of profit-sharing from the Kucoin exchange. The coin is issued as an ERC-20 token on the ethereum chain.
The Kucoin exchange was established in Singapore in 2013 by Michael Gan – CEO, Top Lan – CTO, Jack Zhu – marketing director, Eric Don – COO, Kent LI – operations and maintenance Director, John Lee – president of business operations and Linda Lin – chief legal consultant.
The current price of KCS ranges between $24.29 and $27.00. It has a daily trading volume of over $60 million. It is ranked in 72nd place on CoinMarketCap. It has a total supply of over 170 million.
About 80 million (47%) KCS is currently in circulation. KCS has a market cap of about $2.1 billion. It hit an all-time low at $0.3232 on January 31, 2019. On November 25, 2021, it hit an all-time high of $27.88.
KCS daily candlestick chart (Source: Tradingview)
KCS is still maintaining the buy zone; Can it hold for so long? We should definitely see more sell-off in the coming week.
Apart from being a form of payment of dividends, KCS can also be used as a utility coin to pay for trading fees on Kucoin exchange platform. Users on the platform can enjoy up to 80%. Users can also use KCS to pay for shopping.
Summary
The kucoin token (KCS) was established in 2017, about 4 years after the kucoin exchange platform was established (2013). It was established as a utility coin to share benefits realised as a dividend.
