Kucoin price prediction: Will KCS pay dividends?
Native tokens are playing a significant role on cryptocurrency exchanges, whether its ftx token (FTT) or huobi token (HT). The coins enable users to receive discounts on their trading fees and earn passive income bonuses for holding on to their native utility tokens. The value of these cryptocurrency tokens is expected to rise over time as usage of an exchange grows.
The kucoin token (KCS) saw a successful year in 2021, with KCS breaking price records throughout the year.
However, it is currently grappling with the bear market and was 66% down on its December 2021 high. This has led to some KCS price prediction divisions among forecasters, from the bullish TechNewsLeader to the bearish WalletInvestor.
What is KuCoin?
Based in Singapore, the KuCoin cryptocurrency exchange launched in September 2017.
KuCoin has more than 20 million global users and has reached an accumulated trading volume of more than $1trn across 946 million trades, according to its website.
While some exchanges have added a utility token at some point after their launch, KuCoin introduced the KCS token from the beginning.
KCS initially launched as an ERC-20 token on the Ethereum (ETH) blockchain, designed for profit sharing with KuCoin exchange users. Traders on the exchange can use the kucoin cryptocurrency to pay for their trading fees and receive a discount of up to 80%.
KCS holders also receive a daily dividend that is allocated from 50% of the exchange’s daily revenue from trading fees.
The KuCoin exchange was founded in 2013 by a group of executives including Michael Gan, now chairman of KuGroup, Eric Don, chief operating officer, and Johnny Lyu, now CEO of KuCoin Global.
The KuCoin blockchain
While KuCoin had a token in place at launch, it was in 2021 that the exchange decided to launch its own blockchain. The KuCoin Community Chain (KCC) is a decentralised public blockchain built by the KuCoin community.
The blockchain is compatible with the Ethereum Virtual Machine (EVM) and smart contracts. It aims to provide community users with faster speeds, lower costs and more convenience than the Ethereum blockchain.
KCS is the native token for KCC and serves as the fuel for transactions, according to the documentation. KCC launched its own KuCoin non-fungible token (NFT) marketplace last year on its KuSwap exchange and added auctions to the marketplace in February 2022.
Kucoin news and price history
KCS price history
Source: CoinMarketCap
After launching with an opening price of a little over $0.69 on 24 October 2017, KCS saw an initial surge at the beginning of 2018 along with the crypto bull market. However, it continued to follow wider trends as the industry crashed throughout the year.
By December 2018, it had dropped below its launch price. It then fluctuated around the $1 mark for the next three years.
The kucoin token price made strong gains in 2021 as cryptocurrency markets rallied and the adoption of coins and NFTs increased.
It saw a major breakout on 20 April and climbed to a high of $20.00. This followed the KuCoin chain going live, allowing KCS investors to upgrade their tokens. By a month later, this had fallen back to $7.07 on 23 May.
KCS experienced a minor rally on 7 July where it peaked at $14.79. The KuCoin exchange launched an event the same day, where KCS stakers were eligible to earn from a 2.5 million 2CRZ [2crazy] token prize pool.
2Crazy @2crazylive is available on #LockDrop!
— KUCOIN (@kucoincom) July 6, 2021
Stake $KCS/ $POL/ $ETH to get a share of the premium prize pool of 2,500,000 $2CRZ!
⏰ Subscription period: 2021/07/06 10:00:00 - 2021/07/06 22:00:00 (UTC)
Details: https://t.co/0q9NcqiAVH pic.twitter.com/eeylkfBURo
The kucoin token saw its largest breakout to date throughout October and November. The steady climb peaked at its all-time high of $28.80 on 1 December. The new price record followed a major burn of KCS the week prior.
???? 23rd (October 2021) $KCS Burn ????
— KUCOIN (@kucoincom) November 23, 2021
The KCS team has executed the 252,146 $KCS burn for October, 2021. The estimated burning amount is 5,185,122 $USDT, which is 10% of the October income of #KuCoin.
???? Burn Txid: https://t.co/S0pwk5xSzL
???? Details: https://t.co/eHysF7WQOn pic.twitter.com/72r0y8EUBp
The KCS crypto price plunged in January as the cryptocurrency markets turned bearish, trading down to a low of $13.53 on 22 January. But the price found support in February and moved back above $20 on 28 February to close at $20.73 on 1 March.
However, it was unable to sustain this level of support and the kucoin token price eventually continued to plummet. It crashed below the psychological $10 barrier in July. As of 26 August, it was trading at around $9.56 and was ranked 51st by CoinMarketCap.
Kucoin price prediction
At the time of writing, the kucoin token price predictions are divided. Some (TechNewsLeader) have predicted a new price record while other KCS/USD forecasts (from WalletInvestor, for instance) have suggested a bearish future for the token.
TechNewsLeader said it could have topped $30.40 in a year and $96.91 in five years’ time. Its kucoin price prediction for 2030 suggested it could have achieved a maximum price of $423.70.
Similarly, PricePrediction anticipated KCS to have averaged $12.64 this year. Its kucoin price prediction for 2025 said it could have reached $38.01 before it could have climbed to $234.44 in 2030.
Meanwhile, CaptainAltcoin’s kucoin price prediction for 2022 anticipated it to have pulled back to $6.15 in November. However, it suggested a gradual climb throughout the coming years and outlined that KCS could have gone on to $13.91 in 2025.
WalletInvestor was bearish with its KCS coin price prediction at the time of writing and said the token was a “bad” long-term investment. It estimated the cryptocurrency could have plunged below $1 in a year and stooped to $0.60. It anticipated it was going to have been fluctuating around $0.50 in five years’ time.
When considering a KCS crypto price prediction, it’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.
If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns. And never trade with money that you cannot afford to lose.
With additional reporting by Nicole Willing
FAQs
Is kucoin a good investment?
The kucoin token was designed for users of the KuCoin cryptocurrency exchange. It offers numerous benefits including reduced fees and a daily dividend. But at the time of writing KCS has recently been bearish.
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether the KCS token is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose.
Will kucoin go up or down?
At the time of writing, some forecasters are divided over kucoin’s future. TechNewsLeader suggested it could have eventually passed the $400 mark, while WalletInvestor anticipated a plunge to $0.60 in a year.
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether the kucoin token is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose.
Should I invest in kucoin?
The KCS token has been struggling this year, along with the wider bear market. As of 26 August, it was down 66% from its all-time high of $28.80 in December 2021.
Whether you should invest in KCS is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research and never invest more money than you can afford to lose because prices can go down as well as up
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