KuCoin Sees 1144% Rise in Users, Female 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 report, the number of new KuCoin users has grown by 1144% in 2021, totaling 10 million. The number of female traders on the exchange has tripled, reaching a record-breaking share of 38%.

Solid year-over-year growth

Over the past year, KuCoin’s average daily trading volume reached $4.3 billion, representing a 791% increase year-over-year. Today, the number of transactions on KuCoin totals 810 million, with an accumulated transaction volume of $400 billion, ranking KuCoin number 5 among crypto exchanges, according to Coinmarketcap. The platform has always positioned itself as one of the biggest altcoin exchanges — being outperformed only by Binance in the number of trading pairs and listed coins.

KuCoin also reports an unprecedented increase in the number of mobile users, which has exceeded web traders for the first time — 54% versus 46%. The number of mobile app installs experienced a YoY growth of 755% and a QoQ growth of 178%, driven by the growing demand for payment services among merchants globally and the increased use of mobile and contactless payments.

Over the last period, the distribution and preferences of traders has also changed, as more users are now opting for long-term holding and automated trading (25% users).

Unprecedented increase in the number of female crypto-traders

Women are increasingly investing in cryptocurrencies, as Coinbase Global Inc.’s initial public offering and Bitcoin’s recent record-setting high helped bring the asset class further into the mainstream.

Almost 40% of users who traded crypto so far in 2021 on KuCoin are women, according to the report. The number has tripled over the past six months, with a QoQ growth of 120% and a YoY growth of 350%. Today, 38% of the platform’s users are women, making KuCoin, perhaps, the leading crypto exchange in terms of female traders. Johnny Lyu, the CEO of KuCoin commented on the surging growth of the number of women on the platform:

“Over the past year, we made immense progress in onboarding new users and creating an easy entry for both men and women. […] 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.”

KuCoin has also noted that the factors behind such growth are the growing financial and technological savviness of female crypto users and their strive to become more financially independent.

Previously, several crypto exchanges reported growth in the number of female users. Digital trading platform eToro Group Ltd. specifically stated the number of its female traders has doubled to about 20% of all users in the U.S.

KuCoin price also sees growth

KuCoin (KCS) also performed exceptionally well on price in July, with appreciation close to 40%, surging to $14, making it one of the top-performing crypto exchange native tokens.

Image by Gerd Altmann from Pixabay