KuCoin token (KCS/USD) was amongst a handful of cryptocurrencies that posted double-digit features on Monday. With a surge of about 20%, the token was solely rivalled by the Trust Wallet Token within the prime 100 record by market cap. The coin is native to the KuCoin crypto change.
KuCoin claims to be the world’s largest social buying and selling platform. The change lists over 20 million international traders and greater than 1 trillion USD gathered buying and selling quantity. Over 700 cash can be found on the platform.
While KCS traded at a excessive of $28 in November 2021, it has come crashing this yr. The token trades at simply $7.9. That’s a drop of greater than 70%. The decline remains to be beneficial in comparison with some cryptocurrencies, which have misplaced at the least 90% of their worth from their all-time highs.
The features in KCS occur though confidence ranges on crypto exchanges stay low. In mild of the considerations, KuCoin assured customers of the security of their funds. The firm stated it was engaged on the Merkle-tree proof-of-reserves as an accountability measure. Should the most recent value leap reignite hope for additional recoveries of KCS?
KuCoin token slowing down after assembly resistance
Source – TradingView
The newest value leap takes the KuCoin token close to a resistance at $8.69. The token has slowed down close to the resistance zone.
The MACD indicator stays deep within the bear zone. Although momentum is weak, the severity has lessened following the intra-day features.
Should you purchase KCS?
The intraday features are constructive for KCS, provided that they arrive when cryptocurrencies are below stress. However, the momentum might be unsustainable, given the inherent dangers and $8.69 resistance. If you might be shopping for KCS now, you have to be prepared for potential extended consolidation.
Where to purchase KCS
As KCS is such a new asset, it is but to be listed on main exchanges. You can nonetheless buy KCS utilizing a DEX (decentralised change) although, which simply means there are a few additional steps. To purchase KCS proper now, observe these steps:
1. Buy ETH on a regulated change or dealer, like eToro ›
We counsel eToro as a result of it is one of many world’s main multi-asset buying and selling platforms, an change and pockets all-in-one with a few of the lowest charges within the trade. It’s additionally beginner-friendly, and has extra cost strategies obtainable to customers than some other obtainable service.
2. Send your ETH to a suitable pockets like Trust Wallet or MetaMask
You’ll must create your pockets, seize your tackle, and ship your cash there.
3. Connect your pockets to the 1Inch DEX
Head to 1Inch, and ‘join’ your pockets to it.
4. You can now swap your ETH for KCS
Now that you simply’re linked, you’ll swap for 100s of cash together with KCS.
