KCS, the native token of KuCoin — a global cryptocurrency exchange for numerous digital assets and cryptocurrencies — hasn’t yet regained its former position in the crpytocurrency rankings. While its value has suffered under the paw of the bear market, its long term appeal remains driven by KuCoin’s ability to maintain profits — something that, so far at least, it appears to be very good at.
Coming in as a small cap cryptocurrency, the token currently has a market cap of over USD 62 million. KuCoin Shares (KCS) an ERC-20 token, has emerged in popularity as a comparatively stable crypto diversification option over the last year, backed by the strength of the KuCoin exchange.
KuCoin handles over a million dollars worth of volume daily, and consistently ranks as the world’s busiest crypto exchange by legitimate volume. The design of the KCS token means its utility and value is closely tied to the performance of the KuCoin exchange. Within KuCoin, the function of KCS is as many as the exchange token in other channels, dividends, pay trading fees, get VIP rights, etc., and KCS also has plenty of use cases outside of KuCoin in traveling, gaming, financing, social networking and other industries.
Talking about the reasonable price of KCS, it is pretty much undervalued. KCS price is highly associated with the development of KuCoin, and it is constantly improving in value. As many interesting thing will happen to KCS with the launch of KuChain alongside the adjustments of KCS business model and its current bonus plan, it gives the KCS token a ‘get it while it’s hot’ appeal that plays into its value and adds positive pressure to long term demand. With the continuous expansion of the KuCoin ecosystem this year, the structure around KCS will gradually become ecological, and the intrinsic value of KCS will be higher and higher.
KCS Flashing Some Bullish Signs
KCS provides a ROI of 7% a year by just holding. It has more potentional as the exchange keeps getting bigger (and it does). However, on the benefit of this stability that Bitcoin is performing, KCS appeared to be charting some loss while most major altcoins record significant gains over the past days.
At the time of writing, KCS is trading down just over 6% at its current price of $0.78, which marks a notable decline from daily highs of over $1. Last April 3rd, several traders still recall how KCS sudden rally came about in tandem with the token sale of MultiVAC on KuCoin Spotlight and rally up to highs of nearly $2.19, which is where it lost its momentum and plummeted lower.
Calmly — some prominent crypto trader on Twitter — told his followers in a recent tweet that he believes the KCS is well positioned to see some upwards momentum in the days and weeks ahead as it flashes some bullish signs.
KuChain
Whenever KuCoin introduces some new services / products, they think hard about how KCS can be associated with and benefit. While the team cannot unveil too much details around the exchange’s own public chain, KCS will play a very significant role in it. Perhaps, as the public chain goes fully operational and as KuCoin move towards building its criteria of open finance infrastructure, more functions of KCS will be explored which will advance not only its utility but also the potential value of KCS.
IEOs
KCS has emerged in the short term crypto market consciousness rising over 300% last year trading from $0.44 to $1.32 on the back of speculation surrounding Kucoin’s first official IEO sale, and given KCS’s utility as the only liquidity option to access the IEO. KCS utility as a membership token to access the Kucoin Spotlight has built rapid buying pressure and potentially price and value reassessment from markets. KCS could be flashing some bullish signs yet again, however, as Bitbns (one of the largest crypto exchanges in India) will be holding an IEO for its proprietary exchange token BNS on KuCoin Spotlight.
The recent WazirX token sale on Binance Launchpad goes to show the prosperity of the Indian crypto market which soars over 600% from its IEO price. Bitbns, as one of India’s most trusted cryptocurrency exchange alongside WazirX, is likely to see the very same trend.
Bitbns is one of India’s most trusted cryptocurrency exchange that focuses on providing the solution to “fiat-to-cryptocurrency” conversion problems and simplifying the process of depositing and withdrawing fiat. The news that BNS will be launching on KuCoin Spotlight has once again welcomed a period of prosperity. Post-IEO, KuCoin listing BNS token will also help showcase its utilities which has ushered in a positive perspective.
If you haven’t got a KuCoin account yet to participate in the BNS token sale or purchased KCS for an easy profit, it’ll only take 10’s to freely sign up here!
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