While the entire market craters, KuCoin has been busy announcing new milestones after another throughout the first half (H1) of 2022.
In fact, KuCoin amassed over 9.75 million new users in H1 2022 alone and rose to become a top 5 crypto exchange in just 6 months.
In this post, I will be sharing with you, the most high-profile achievements and growth statistics of KuCoin in H1 2022.
But first, here’s a quick overview for you to glance through.
KuCoin’s H1 2022 growth statistics (Editor’s picks)
- 137 new coins were listed on KuCoin in H1 2022 alone, including 31 first-of-its-kind-project tokens.
- KuCoin’s valuation increased to $10 billion after raising $150 million in investments on May 10, 2022.
- Nearly 400 new talents joined the KuCoin team in H1 2022, bringing the total number of employees working at the exchange to 1000+.
- The exchange’s trading volume for both the spot and futures market exceeded $2 trillion in H1 2022, a 180% increase over the same period in 2021.
- Over 9.75 million new users joined KuCoin in the first half of 2022 alone, a 219% increase over the same period in 2021.
- The total number of registered users on KuCoin exceeded 18 million in 2017 countries.
- There’re a total of 23 KuCoin global communities in multiple languages with a combined 1 million+ members.
- KuCoin launched over 10 major new products or features in H1 2022 alone.
About KuCoin
KuCoin is a global cryptocurrency exchange that’s built to serve all kinds of crypto traders and investors.
The exchange currently provides spot, margin, futures, and peer-to-peer (P2P) trading markets to its over 18 million users in 207 countries or regions.
However, KuCoin is more than just a crypto exchange. It also offers various crypto investment products such as staking, lending, mining, etc.
Furthermore, it has developed its own smart chain network known as the KuCoin Community Chain (KCC) where you can invest in DeFi at the lowest fees.
The company is said to be registered in Seychelles but operates with a decentralised team that’s spread across the world.
Some key facts about KuCoin
- According to CoinMarketCap and CoinGecko, KuCoin is a top 5 crypto exchange by trading volume.
- KuCoin is popularly known as the “people’s exchange” and home of the best and latest crypto gems.
- According to The Ascent, KuCoin is one of the top 6 best altcoin exchanges in the world.
KuCoin founders and team
KuCoin was founded by two tech geeks and early blockchain adopters, Michael Gan and Eric Don in 2013. But the exchange was not launched until September 2017.
Their dream was to build an exchange that would not just serve the richest few, but also allow everyone to get involved with crypto.
Over the years, the team has expanded to include more than 1,000 people and still growing fast.
In the first half of 2022 alone, over 400 new talents joined the KuCoin team to help accelerate its growth and stay competitive.
Currently, KuCoin is among the few crypto companies even in the bear market with 300 job openings yet to be filled.
KuCoin funding rounds
KuCoin has raised a total of $197.7 million in investments from 2017 to June 2022. And the company’s valuation is now at $10 billion.
In its latest pre-Series B funding round on May 10, 2022, KuCoin brought in $150 million in investments.
With the latest funding, the exchange aims to:
- Improve its core trading system to enhance performance by 10x
- Support its global regulation and compliance efforts.
- Enhance its security and risk management systems.
- Position itself to better serve its millions of users.
- Solidify its strategy to go beyond centralised exchange and continue to expand into Web 3.0.
Previously, the exchange raised $20 million in its series A funding round in November 2018.
And before that, it raised $27.5 million in Bitcoin (BTC) in its initial coin offering (ICO) in September 2017.
KuCoin listings statistics for H1 2022
KuCoin is regarded as the best altcoin exchange and home of hidden crypto gems because it lists new and high-quality altcoins before any other exchange.
137 new coins were listed on KuCoin in H1 2022.
These include 31 first-of-its-kind-project tokens, including hidden gems like BLOK, CHMB, VR, KMA, and DAO.
5 of the newly listed projects were launched on KuCoin Spotlight and another 5 on the KuCoin Burningdrop.
This brings the total number of coins listed on the exchange to 720+ and 1340+ trading pairs as of July 10 2022, according to CoinMarketCap.
KuCoin trading volume statistics for H1 2022
Throughout this year, KuCoin has been breaking its own daily trading volume records almost every quarter.
In May 2022, the daily spot volume reached a peak of $11 billion, and the highest daily futures volume reached close to $23 billion
Furthermore, in H1 2022, the exchange’s cumulative spot and futures trading volume exceeded $2 trillion. An increase of 180% compared to the same period in 2021.
The KuCoin H1 2022 report shows that the exchange saw the most growth from European users who achieved a total trading volume of $481 billion.
That’s a 381% growth rate compared with the same period in 2021.
This is followed by Latin America and Africa + the Middle East which achieved a total volume of $453 billion and $392 billion respectively.
Compared with the same period last year, that’s a growth rate of 189% and 152% for both regions respectively.
KuCoin user growth statistics for H1 2022
In H1 2022 alone, 9.75 million new users joined KuCoin, a 219% increase, compared to the first half of 2021.
This brought the total number of users on the exchange to 18 million in 207 countries and regions.
Most of these new users are from Asia, Latin America, Africa + the Middle East, and Europe.
- 5.6 million new registered users came from Asia, a year-on-year increase of 659%.
- While Latin America, Africa + the Middle East, and Europe’s new registered users increased by 216%, 152%, and 142% respectively, compared to the same period in 2021.
It’s interesting to note that whereas Asia, Latin America, Africa + the Middle East all saw the highest new registered user growth rate in H1 2022, Europe brought in the biggest trading volume over the same period.
Furthermore, a TokenInsight report shows that KuCoin has the most globalized user base, with 70% of its users being from North America, Europe, Russia, and South-East Asia (SEA).
KuCoin community growth statistics for H1 2022
KuCoin has one of the largest communities in crypto with 23 global communities in multiple languages and a combined total membership of more than 1 million.
Being an exchange for, by, and of the people, KuCoin has consistently shown commitment to building an inclusive community where everyone benefits and is heard.
And this is reflected in both the growth in the number of KuCoin’s global communities and their membership.
Major new products or features launched by KuCoin in H1 2022
Over 10 major new products or features were launched by KuCoin in H1 2022 alone. These include:
- Fiat trading pairs
- The Chatbot
- Isolated Margin
- Convert Function
- OCO order type
- Wonderland
- Windvane
- KuCoin Wallet
- The KCS Whitepaper
- Cloud Mining
Let’s briefly discuss each of them below.
1. Fiat trading pairs
KuCoin started adding fiat trading pairs in H1 2022, beginning with BRL and EUR paired against BTC, ETH, and USDT, with more expected to follow.
2. The Chatbot
The KuCoin Chatbot is an automated customer service system that was launched in April 2022 to help improve the customer support experience of KuCoin users.
3. Isolated Margin
KuCoin launched the Isolated Margin trading product in February 2022 which now supports 70 tokens.
Isolated margin enables you to implement better risk management practices by allowing you to separate each margin position from others.
This way, liquidation on one trading pair will not affect the others as each isolated margin trading pair has a separate account.
4. Convert Function
The KuCoin convert function enables you to convert one token to another with a single click and at zero fees.
The convert function supports only a few tokens and has minimum and maximum transaction limits.
5. OCO order type
KuCoin launched the One Cancels the Other (OCO) order type in June 2022 to better help investors develop and implement more nuanced trading strategies.
OCO is a special type of order that enables traders to place two separate orders (a limit order and a stop-limit order) at the same time.
However, only one of the orders is allowed to be executed, and when one is executed, the other is cancelled automatically.
It’s a simple yet powerful tool, that you can use to automate your trade, especially when you are not sure of the direction a trade will go and want to hedge your position.
6. Wonderland
The KuCoin Wonderland is an NFT launchpad or IGO (initial game offering) platform launched in April 2022, to bring in-game NFTs to millions of users.
The platform has already hosted 4 projects selling a total of 46, 000 NFTs and recording $1.5 million in trading volume as of July 2022.
7. Windvane
Windvane is an NFT marketplace launched in April 2022 and already has over 1 million registered users.
The platform aims to be a one-stop solution for digital collections, artworks, and game consoles. It also serves other functions like NFT mining, NFT marketplace, and NFT airdrop.
And to further drive NFT adoption, the platform created a $100 Million Creators Fund together with KuCoin Ventures to invest in new NFT projects.
8. KuCoin Wallet
KuCoin launched the KuCoin Wallet (a multi-chain, non-custodial crypto wallet) in June 2022 and already has 0ver 3 million users.
The wallet aims to be your gateway to all of the crypto and web3 world, supporting the sending, receiving, and storing of all crypto assets or NFTs in a single place.
9. The KCS Whitepaper
In March 2022, KuCoin co-released the KCS Whitepaper with the KCS Management Foundation (the governing entity responsible for the development, decision making, investment, and applications of KCS).
The new whitepaper focuses on:
- fostering and incentivising community participation in the development of the KCS ecosystem,
- accelerating the burning and value growth of KCS,
- managing the redistribution of the locked KCS,
- creating a circular economy for KCS, etc.
10. Cloud Mining
The KuCoin Cloud Mining is a remote crypto mining program that allows you to buy hashrate from real rigs and get the corresponding mining income.
It was launched on March 2, 2022, to provide you with another stable income investment opportunity and a way to make your money work for you on KuCoin.
Conclusion
That’s it for my roundup of KuCoin H1 2022 achievements and growth statistics.
The stat that knocked my socks off was the fact that KuCoin acquired over 50% of its total users in H1 2022 alone.
To put it in perspective, the exchange is over 5 years old and has a total of 18 million+ users.
This shows that more than 4 years of user growth was outperformed by the first 6 months of 2022. That’s crazy!
And the exchange is not slowing down, as they continue to build with a special focus on the web.3 ecosystem, KuCoin Futures, and KuCoin Earn for the rest of the year.
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