KuCoin Sees 1144% Rise in Users, Woman Traders Reach Unprecedented 38%

KuCoin, one of the leading crypto exchanges, has announced its financial report for the second quarter of 2021, revealing solid growth in adoption and exchange metrics, such as new users, trading volumes and price performance.


 

According to the research, new KuCoin users increased by 1144 percent in 2021, reaching a total of 10 million. The percentage of female traders on the exchange has tripled, reaching a new high of 38 percent.

Year-over-year growth is strong.

KuCoin's average daily trade volume increased by 791 percent year over year to $4.3 billion. According to Coinmarketcap, the number of transactions on KuCoin has reached 810 million, with a total transaction volume of $400 billion, ranking KuCoin fifth among crypto exchanges. Only Binance has more trading pairs and listed coins than the site, which has always positioned itself as one of the largest altcoin exchanges.

KuCoin also boasts a record-breaking growth in mobile users, who now outnumber web traders for the first time — 54 percent to 46 percent. The number of mobile app installs surged by 755 percent year over year and 178 percent quarter over quarter, owing to increased demand for payment services among merchants worldwide and increased use of mobile and contactless payments.

The distribution and tastes of traders have shifted over time, with more users preferring for long-term holding and automated trading (25 percent users).

The number of female crypto-traders has risen to an all-time high.

Women are increasingly investing in cryptocurrencies, thanks to Coinbase Global Inc.'s initial public offering and Bitcoin's recent record-setting high.

According to the data, women account for about 40% of KuCoin users who have traded cryptocurrency so far in 2021. The number has tripled in the last six months, with a 120 percent QoQ increase and a 350 percent YoY increase. Women now account for 38 percent of KuCoin customers, making it the biggest crypto exchange in terms of female trading. The CEO of KuCoin, Johnny Lyu, had this to say on the increasing number of women on the platform:

“Over the last year, we've made significant progress onboarding new users and making it simple for men and women to join. […] The exchange has also developed a variety of new crypto services that make it simple for consumers with little knowledge of cryptocurrencies to get started trading. The increase in female traders on KuCoin has us impressed. Today, KuCoin may be the crypto exchange with the highest proportion of female users.”

The increased financial and technological savvy of female crypto users, as well as their desire to become more financially independent, are causes behind this growth, according to KuCoin.

Several cryptocurrency exchanges have already reported an increase in female users. eToro Group Ltd., a digital trading platform, said that the number of female traders has doubled to around 20% of all users in the United States.

The price of KuCoin is also rising.

KuCoin (KCS) also had a strong month in July, with a price increase of about 40%, bringing it to $14, making it one of the best-performing crypto exchange native tokens.

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