Some positive news coming from the popular exchange, KuCoin, has led to a solid uptick in the cryptocurrency of the same name. KuCoin Shares (KCS) is up nearly five percent overnight as a series of news-worthy developments are released in time for the potential bull run investors in the market are expecting.
KuCoin, the exchange known for its low fees and impressive list of altcoins, is experiencing a well-timed influx of headlines just in time for this expected increase in market participation. From the new listing of Arcblock (ABT), the creation of “special treatment areas” for underperforming currencies, and the re-implementation of their generous referral bonus, KuCoin looks ready to grab the bull by the horns heading into summer.
Adding to the long list of altcoins available on the KuCoin exchange, the addition of Arcblock (ABT) has made the news cycle recently. Arcblock (ABT) is an open source protocol providing an abstract layer for accessing underlying blockchains. Billing itself as the “world’s first blockchain ecosystem for building and deploying decentralized applications,” the new listing may be boosting KuCoin’s (KCS) value as much as KuCoin is boosting theirs.
But that’s not the only news increasing the value of the exchange based token. KuCoin has recently implemented a novel way of dealing with under-performing coins. While the inclusion of coins that consistently sink in value may be necessary to balance the growing number of altcoins doing well on the exchange, these dogs of the crypto-universe shouldn’t be allowed to bog down solid players as investors wade through the diverse listings on the expanding platform. KuCoin’s answer to the problem of under-performing currencies is to separate them into a “special treatment area.” This area will also include coins that have become ensnared with legal issues. Including this area will give consumers a warning to use caution before dropping their hard-earned Ethereum (ETH) or Bitcoin (BTC) on a wildcard cryptocurrency listed on the exchange. Giving consumers the ability to discern from the good and bad players available gives KuCoin an extra level of credibility that may be translating into an increased market value for KuCoin Shares (KCS).
The main reason behind the sudden rise in value for the token, however, is more likely due to the reinstatement of the Referral Bonus Program. Allowing savvy consumers to invite their friends and reap solid rewards will no doubt help the growth of the exchange over the long run. The bonus will be effective for the next year, gifting twenty percent of the value on each referred order. An expected increase in the exchange’s user base will obviously increase the value of the exchange token, KuCoin Shares (KCS), which gives holders of the token a share in the companies revenues.
The series of developments coming out about KuCoin speaks volumes about the expected increase in participation across the market. And as we watch the little green candlesticks representing the value of cryptocurrencies grow over the coming day(s), it may be time to reach out from the comfort of our favorite exchanges and experiment with another we have yet to try. KuCoin and KuCoin Shares (KCS), with the reinstatement of their Referral Bonus Program, look ready to benefit from the influx of wealth the general market is experiencing.