KuCoin, the world’s leading bitcoin and cryptocurrency exchange, has released its semi-annual report highlighting key metrics and achievements for 2022. The report delves into both market performance and the development of innovative products aimed at cementing the exchange’s position in the decentralized asset market.
The report indicates that the number of registered users on the platform exceeded 18 million and the global employees are more than 1,000. This, in part, was a result of funding KuCoin received in a pre-Series B round. Funds raised were $150 million from Jump Crypto, Circle Ventures, IDG Capital, and Matrix Partners, raising its valuation at USD 10 billion.
KuCoin H1 2022 Report Highlights
Since the beginning of the year, KuCoin achieved cumulative trading volume for spot trading and futures that surpassed the $2 trillion milestone. It achieved 180% growth compared to the same period in 2021. Peak trading volumes for spot were recorded at $11 billion, while futures contracts peaked at $23 billion.
Compared to the same period last year, the European market led the first half of 2022 with $481 billion in trading volume, up 381%. Latin America reached USD 453 billion with an increase of 189%, while Africa and the Middle East registered USD 392 billion in volumes, with a 152% growth.
Regarding user growth, KuCoin attracted about 9.75 million new users in the first half of 2022, 219% more than in the same period last year. These users mainly come from Asia, Europe, Africa and the Middle East.
In this sense, Asia maintains the lead with around 5.6 million new users in the first half of the year, a 659% growth. Latin America, Africa, the Middle East and Europe increased by 216%, 152% and 142% respectively.
On the other hand, KuCoin is recruiting around 300 people specializing in research and development, marketing, and business development to contribute to the growth of the exchange.
New cryptocurrencies, new investment opportunities
In the first half of 2022, KuCoin listed 137 new cryptocurrencies, bringing the number of available assets to over 700. This includes a total of 31 world premiere listing assets, 5 listings on the exclusive Spotlight token launch platform, and 5 projects launched on Burningdrop.
The exchange added more than 70 new tokens, bringing the trading options on KuCoin Margin to more than 200. KuCoin Labs also invested a total of $20 million in 19 crypto-native projects in the first half of 2022, further promoting plus exchange penetration in the decentralized space.
KuCoin Launched NFT Marketplace – Windvane and a creators background of 100 million dollars to boost the exploration of the Web3. Another important release was KuCoin Wallet. It was officially launched as an easy-to-use crypto wallet that supports multi-chains and is powered by the KuCoin ecosystem.
KuCoin report from the first half of 2022 shows that the exchange has managed to accelerate its global expansion and product rollout. The KuCoin team expects the second half of the year to be just as productive, despite the current downtrend in the crypto market and the global economic downturn. Beam click here for the full report for the first half of 2022.
About KuCoin cryptocurrency exchange
Released in September 2017, KuCoin is a global cryptocurrency exchange based in Seychelles. As a user-facing platform with a focus on inclusion and community action outreach, it offers over 700 digital assets. Currently its services include spot trading, margin trading, P2P trading, futures trading, betting and lending to its 18 million users in 207 countries and regions.
In 2022, KuCoin raised over $150 million through a pre-Series B investment round, bringing total investments to $170 million, with a total valuation of $10 billion.
KuCoin is currently one of the top five exchanges of cryptocurrencies, according to CoinMarketCap. Forbes also named KuCoin one of the best exchanges of 2021. In 2022, The Ascent rated KuCoin as the best cryptocurrency app for enthusiasts.
For more information, visit the website www.kucoin.com.
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