Kucoin exchange: the crypto platform of the future?
Kucoin exchange: the crypto platform of the future?

Kucoin exchange: the crypto platform of the future?

By Alessia Pannone - 20 Oct 2022

Chevron down

Kucoin is a Chinese exchange based in Hong Kong. It was established in 2013, but was not operational until 2017, when it launched the facility that exchanges crypto-assets through strategies, such as bonus payment and security.

Kucoin has grown by taking a good share of the crypto market in recent years with due credit, so much so that in 2018 it increased its growth considerably. 

The Kucoin exchange was founded by a group of blockchain experts, the CEO of which is Michael Gan. Today, it is led by a team of experts who have international experience with large companies in the blockchain and Bitcoin world such as GFSecurities and ANTFinancial. 

Kucoin’s main goal is to offer a secure and intuitive exchange for all audiences with a wide variety of crypto-assets. It also offers one of the most extensive selections of cryptocurrencies. 

It handles newly minted cryptocurrencies and because of this very aspect, it stands out as the exchange with the most dynamism and reactive power on market trends. It also recently launched its App for Android and iOS devices. 

It currently has a daily volume record of 10,000 BTC, or $150 million, a gigantic amount considering that this exchange is relatively new.

In addition to being on the market with its own cryptocurrency, it offers the classic BTC, ETH and USDT markets and has one of the few NEO markets.

With this in mind, Kucoin could easily be one of the most established, secure, and reliable markets of the future.

The case of Do Kwon on the Kucoin exchange

A curious recent case involving the Kucoin exchange is that of Do Kwon, the South Korean crypto developer and founder of the Terraform Labs project. 

The charge brought against Do Kwon, from not so long ago, had him guilty of freezing 56.2 billion won ($39.66 million) belonging to him and stored in two cryptocurrency exchanges, KuCoin and OKX.

However, Terra’s founder promptly denied the news, labeling it a falsehood. 

“There is no “cashout” as claimed, I have not used KuCoin or Okex at least in the last year, and no funds from TFL (Terraform Labs), LFG (Luna Foundation Guard), or any other entity have been frozen,”

said Do Kwon. 

Meanwhile, Terraform Labs defended Kwon, calling the arrest warrant issued by the South Korean prosecutor against him “unfair.”

The already complicated situation was further aggravated for Do Kwon, as the developer had his South Korean passport confiscated by authorities after the charges against him. 

However, Do Kwon stands by his positions and therefore firmly believes that he is not trying to evade the authorities. That said, the crypto entrepreneur is unwilling to reveal where he actually is.

“I’m not using it anyway. I can’t see how this makes a difference,” the Terra founder said in a recent interview, reiterating his denial that millions of dollars in Bitcoin frozen on the OKX and KuCoin exchanges belonged to him or entities he controls. 

He also added that he has not used either cryptocurrency exchange for at least a year, as he has no funds in that area. Moreover, Do Kwon argues, he would have noticed without a doubt if the amount charged to him was as large as the reported figures.

Kucoin according to CryptoCompare

CryptoCompare Exchange Benchmark is a market data provider founded in 2014. this market scanner deals with more than 5,000 coins in global markets.

CryptoCompare ranks over 150 centralized to bring transparency and accountability to the cryptocurrency exchange landscape, providing a framework for risk assessment.

Going into even more detail, the platform produces cryptocurrency trade data, order book data, blockchain and historical data, corporate data, reports, and a suite of cryptocurrency indices.

Kucoin also falls within CryptoCompare’s daily analysis. 

In particular, analyzing the current data, one can see that over the past six months the volume of USDT within the Kucoin exchange has been decreasing, not worrying yet, but still downward.

In the last month, however, one can observe the peak that occurred around the end of September. Since then, the Kucoin exchange has been steadily decreasing. 

The same goes for the past week, a decrease from the peak can be observed, which indicates a smaller amount of money within the exchange. 

Alessia Pannone

Graduated in communication sciences, currently student of the master's degree course in publishing and writing. Writer of articles from an SEO perspective, with care for indexing in search engines.

We use cookies to make sure you can have the best experience on our site. If you continue to use this site we will assume that you are happy with it.