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 record 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 buyers and greater than 1 trillion USD amassed 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 12 months. 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 at the least 90% of their worth from their all-time highs.
The good points in KCS occur though confidence ranges on crypto exchanges stay low. In gentle 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 newest worth leap reignite hope for additional recoveries of KCS?
KuCoin token slowing down after assembly resistance
Supply – TradingView
The most recent worth 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. Though momentum is weak, the severity has lessened following the intra-day good points.
Do you have to purchase KCS?
The intraday good points are optimistic for KCS, provided that they arrive when cryptocurrencies are underneath stress. Nevertheless, the momentum could possibly be unsustainable, given the inherent dangers and $8.69 resistance. In case you are shopping for KCS now, you have 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 a number of additional steps. To purchase KCS proper now, comply with these steps:
1. Purchase ETH on a regulated alternate or dealer, like eToro ›
We propose 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 among the lowest charges within the trade. It is also beginner-friendly, and has extra fee strategies accessible to customers than every other accessible service.
2. Ship your ETH to a suitable pockets like Belief Pockets or MetaMask
You will have to create your pockets, seize your deal with, 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 just’re related, you’ll swap for 100s of cash together with KCS.