KuCoin Token (KCS) will go bearish soon – Here is why

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.

The post KuCoin Token (KCS) will go bearish soon – Here is why appeared first on Coin Journal.

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