KuCoin Exchange Has Reported a 1,500% Year-Over-Year Increase in Asian Users

Vignesh Karunanidhi
KuCoin Exchange Has Reported a 1,500% Year-Over-Year Increase in Asian Users
Source: Businesswire

KuCoin revealed a detailed Q1 report of the exchange, highlighting its achievements and considerable milestones.

The in-depth report also highlighted the major factors that assisted KuCoin in attaining the significant milestones. The report initially spoke about its spot and futures trading, where the trading volume exceeded over $1 trillion. The daily transaction volume was notably well over $11 billion.

One of the key achievements that the exchange highlighted in its report is the considerable hike in the number of newly registered users.

Source: Nairametrics

KuCoin witnessed a massive growth in the number of users

As per the report’s details, the vast majority of users hailed from Asia, Europe, the Middle East, and Africa. The countries ranked in the top three ranking for the number of user inflows.

Out of them all, Asia dominates with a 1,503% increase in the number of registrants year-over-year. In terms of new users, the Middle East and Africa accounted for 300%, while Europe accounted for 219%. According to the data, overall user engagement has increased by 451% year over year.

KuCoin achieved such notable numbers thanks to its expansion of the number of supported projects and coins. During that timeframe, KuCoin added stablecoins and 35 additional assets to its portfolio, in addition to 44 cryptocurrencies and 59 trading pairs.

The exchange also amassed quite a remarkable online presence. Its social networks have witnessed considerable growth, especially Twitter, which stands at 1.6 million followers after gaining over 320,000 followers.

An additional milestone for the exchange is the release of its updated whitepaper. The document, which was published on March 29, claims that the exchange is entering a new era and goes into great depth on token distribution strategies and deflationary techniques.

The KuCoin exchange also made a heads up with several new partnerships, including Xangle and Blocktopia. KuCoin Labs, the investment branch of the exchange, has expanded with investments over nine crypto projects and two private equity funds.

According to the report, the notable growth was achievable with the support of its expanded staff base and talent. The exchange currently holds over 1,000 employees around the globe.