KuCoin Emerges as Top Gainer with High Trading Volume
KuCoin has made a comeback and now ranks sixth among the top 10 crypto exchanges by trading volume, with $1.21 billion in 24-hour trading volume. The surge in trading activity has also propelled the KuCoin Token (KCS) to become the top gainer among the top 100 cryptocurrencies.
KCS Price Soars by 32%
In the past 24 hours, KCS has experienced a significant increase of 32%, reaching a trading price of $12.91. This surge in value has boosted its market capitalization to $1.25 billion, making it the 56th largest cryptocurrency.
Trading Volume and Social Volume on the Rise
Data reveals that KuCoin Token’s daily trading volume has witnessed a substantial 188% jump, amounting to $16.5 million. Additionally, Santiment, a market intelligence platform, reports a remarkable 108% surge in social volume for KCS over the past 24 hours.
Potential Price Pullback but Positive Signals
While KCS’s Relative Strength Index (RSI) currently stands at above 83, indicating a possibility of a price pullback, Santiment suggests that if the RSI falls below 65, there could be a bullish momentum. Furthermore, Santiment’s data shows that KCS’s price-daily active addresses (DAA) divergence is above 42%, signaling a buy opportunity. A negative divergence may suggest price manipulation by whales.
Hot Take: KuCoin Reclaims Top Spot with Impressive Trading Volume
KuCoin has made a triumphant return to the top 10 crypto exchanges by trading volume, securing the sixth position with $1.21 billion in 24-hour trading volume. The surge in trading activity has propelled the KuCoin Token (KCS) to become the top gainer among the top 100 cryptocurrencies, with a remarkable price increase of 32%. While there may be a potential price pullback, positive signals such as the significant rise in social volume and the buy signal indicated by the price-daily active addresses divergence suggest that KCS continues to be an asset worth watching.
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