KuCoin token (KCS/USD) was amongst a handful of cryptocurrencies that posted double-digit good points on Monday. With a surge of about 20%, the token was solely rivalled by the Trust Wallet Token within the high 100 checklist by market cap. The coin is native to the KuCoin crypto alternate.
KuCoin claims to be the world’s largest social buying and selling platform. The alternate 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.
Whereas 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 continues to be beneficial in comparison with some cryptocurrencies, which have misplaced no less than 90% of their worth from their all-time highs.
The good points 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 corporate mentioned it was engaged on the Merkle-tree proof-of-reserves as an accountability measure. Ought to the most recent value soar reignite hope for additional recoveries of KCS?
KuCoin token slowing down after assembly resistance
Supply – TradingView
The newest value soar 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. Though momentum is weak, the severity has lessened following the intra-day good points.
Must you purchase KCS?
The intraday good points are constructive for KCS, on condition that they arrive when cryptocurrencies are below strain. Nevertheless, the momentum might be unsustainable, given the inherent dangers and $8.69 resistance. If you’re shopping for KCS now, try to be prepared for potential extended consolidation.
The place to purchase KCS
As KCS is such a brand new asset, it is but to be listed on main exchanges. You may nonetheless buy KCS utilizing a DEX (decentralised alternate) although, which simply means there are just a few further steps. To purchase KCS proper now, observe these steps:
1. Purchase ETH on a regulated alternate or dealer, like eToro ›
We advise eToro as a result of it is one of many world’s main multi-asset buying and selling platforms, an alternate and pockets all-in-one with a number of the lowest charges within the trade. It is also beginner-friendly, and has extra cost strategies obtainable to customers than another obtainable service.
2. Ship your ETH to a suitable pockets like Belief Pockets or MetaMask
You may must create your pockets, seize your tackle, and ship your cash there.
3. Join your pockets to the 1Inch DEX
Head to 1Inch, and ‘join’ your pockets to it.
4. Now you can swap your ETH for KCS
Now that you simply’re related, you’ll swap for 100s of cash together with KCS.