KuCoin in 2021 H1: User Quarterly Growth Up 1144%, Accumulated Volume Over $400 Billion

2021/08/25 09:00:00

We are thrilled to announce that the total number of KuCoin new users in Q2 2021 exceeded two million, with unprecedented quarter-over-quarter growth of 1144%, and a year-on-year increase of 709%. 

To date, KuCoin has executed 810 million transactions and the accumulated transaction volume attained a value of $400 billion. Over the past year, the average daily trading volume has grown by 791% and now stands at $4.3 billion.

In particular, the number of mobile users of KuCoin is also growing, as the number of installs experienced a growth of 755% compared to last year. In the second quarter of 2021, 1.07 million installs were made — a 178% increase quarter-over-quarter. In total, 54% of traders are currently mobile users of the platform. Mobile trading surpassed the metrics of the web version of the exchange for the first time. Such dynamics may be also driven by the growing demand for payment services among merchants around the world as well as the spreading use of mobile and contactless payments.

The number of women using the platform has tripled over the past six months. Quarterly growth of new female users stands at 120%, with annual growth being 350%, contributing to the rapid growth seen across the crypto market this year. Such a mass influx was made evident not only by the growth of accounts registered by women, but also by the growth of the deposits they made compared to the same period last year. If a year ago the share of female traders was only 12% versus 88% of men, today 38% of our users are women. 

The contributing factor behind such growth is the growing financial and technological savviness of female crypto users and their strive to become more financially independent. A study by Grayscale found that 93% of women would be more interested in crypto if they had more educational resources available to them. Another reason is the growing diversity of crypto services and the lowering of the entry threshold for beginners and non-professionals.

“Over the past year, we made immense progress in onboarding new users and creating an easy entry for both men and women. To achieve such growth KuCoin specifically has been providing its users with educational guides, 101 sections, as well as holding AMA sessions with the CEO. The exchange has also launched a number of new crypto services allowing users with minimal understanding of cryptocurrencies to get boarded in trading easily. We are impressed with the growth of female traders on KuCoin. Perhaps, today KuCoin is the crypto exchange with the biggest share of women users,” as stated by Johnny Lyu, CEO of KuCoin.

Based on an analysis of spot traders, we found that every fourth (25%) user of our platform uses trading bots when trading on the exchange, and the trend continues to grow. A quarter ago the number of trading bots users was 23%, while a year ago, only 15% were using trading bots. The growth comes after we launched the KuCoin trading bot in January of 2021. Today, over 2.8 million KuCoin trading bots have been created. This number will likely increase with the growth of the number of users and their trading balances, and the increasing demand for automated trading tools capable of coping in the face of market volatility.

In 2021, KuCoin is continuing to spread into new regions and markets, adopting the technology on a national scale in developing countries of Latin America, Africa, and Asia, with QoQ growth of users — 171.93%, 130.16%, and 67.5% correspondingly. We are seeing the fastest adoption rates in places with high inflation and easy access to mobile phones. The latest data shows that the African crypto market ushered in a major outbreak in the second quarter of 2021. The trading volumes contributed by KuCoin’s African users increased by 20 times in the second quarter of 2021 compared to the same period of the last quarter. Correspondingly, we have also launched highly localized services for African users at a very early stage. 

Johnny commented on the issue: “We are impressed by the spread rate of KuCoin in underdeveloped countries. The number of users who joined our platform from these regions significantly contributed to increased financial and user statistics. Focusing more on developing digital payments solutions could stimulate economic growth, with billions of unbanked people around the world accessing new financial opportunities.”

Our growth and endeavours have also been noticed by the industry. Earlier this year, KuCoin has been named as one of the Best Crypto Exchanges 2021 by Forbes Advisor. On Coinmarketcap, we are now the fifth biggest platform with 1.2 million weekly visits. The number of listed coins on KuCoin has exceeded 400, with a total number of 827 trading pairs.

In the rest of this year, we will continue to introduce new features and services, making KuCoin more available and accessible in all possible markets. We firmly believe in our vision that one day everyone will get involved with crypto, and we will contribute to making it happen in the near future.

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