The KuCoin Token KCS/USD, which serves the role as the native cryptocurrency token that powers KuCoin, has seen exponential growth throughout the last 24 hours and signals even more potential for growth.
A handful of catalysts throughout June and into July has raised attention on KuCoin Token’s prospects and now is a good time to be a buyer.
Recent KuCoin catalysts
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On June 9, we saw an announcement that the Multiverse Token (AI) would be launched on KuCoin Win, which introduces Gaming to token initial distribution. In fact, Five Million tokens of Multiverse (AI) will be distributed through KuCoin Win’s first game product known as LuckyRaffling.
On June 16, KuCoin Community Chain announced the Mainnet Launch. This was an Ethereum-based decentralized public chain with the end goal of providing the KuCoin community with quicker, convenient, and cheap blockchain experiences.
What both of these announcements showed us is the fact that the LCS token will have quite a lot of activity, demand, and usage. With this demand, its price had the potential to rise in value, and so it ended up doing throughout the following weeks.
Most recently on July 6, KuCoin Completed the APENFT (NFT) Airdrop Program. In other words, APENFT (NFT) is supported by KuCoin for its airdrop program to JST, BTT, and TRX token holders.
According to the announcement, KuCoin will support the process of airdrop from July 2021 to June 2023, and holders of the tokens are required to meet eligibility criteria which include having a minimum of 100, 2000, and 100 tokens for JST, BTT, and TRX.
On July 7, KuCoin also announced that the 2Crazy (2CRZ) token became available to trade live on KuCoin.
This will result in increased blockchain usage, KCS requirement, and the value of the token will increase as a result.
Should you buy KuCoin Token (KCS) now?
On July 7, the value of KuCoin Token (KCS) was $14.
This growth is huge due to the fact that just a day prior, its value was $10, which marks a 40% rise in value.
If we take a look at June and put it into consideration, the lowest point it dropped to on June 22 was $5, and it’s currently at one of its highest points.
In other words, this gives us a clear perspective as to how low the token has dropped throughout its recent history, and how high it has the potential to grow.According to data from IntoTheBlock, we can see that there are over 61,140 addresses that hold KCS.
It also shows us that the token has a concentration of 97.36% or 165.62 million KCS tokens that are held by whales.
This being the case, we can see that throughout its recent updates and features, KuCoin has grown quite a lot in terms of activity and trading volume.
Given the fact that the token has grown 40% throughout the last 24 hours, and hasn’t stopped as of yet, it might be one of the best times to buy KuCoin (KCS) amid recent momentum.
We can expect KuCoin to rise to $20 within a few weeks if it manages to keep up this pace.
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