KuCoin Spot and Futures Markets Hit $1T, with 12M Buying and selling Bots Created

KuCoin, the favored crypto trade, has launched its first-half evaluate for 2023, showcasing spectacular progress and innovation within the face of difficult market situations. The trade famous that regardless of the volatility within the crypto market, it sustained sturdy progress, increasing its consumer base and adopting regulatory necessities to boost consumer expertise and belief.

One of many key highlights within the evaluate is the growth of KuCoin’s consumer base, which grew by 26% 12 months over 12 months, reaching a formidable 29 million registered customers by June 2023. In accordance with the official assertion, the Latin American (LATAM) area led the expansion. Different areas, together with the Center East & Africa, Europe, and Asia, witnessed notable progress in comparison with the primary half of 2022.

Along with the increasing consumer base, KuCoin skilled a surge in buying and selling quantity throughout spot and futures markets, surpassing $1 trillion. The report famous that the expansion was pushed by varied areas, demonstrating the worldwide enchantment of the trade.

Moreover, the KuCoin Buying and selling Bot witnessed substantial progress, with customers creating 12 million bots and producing a buying and selling quantity exceeding $5.7 billion USDT within the first half of 2023.

Moreover, the trade stated it carried out complete safety measures, together with industry-standard encryption algorithms and multi-factor authentication for all consumer accounts. KuCoin claims most shopper funds are saved in chilly wallets, offering enhanced safety.

Curiously, KuCoin has launched the biggest bug bounty program in collaboration with cybersecurity firm Hacken, providing $1 million in bug bounty awards to bolster safety measures additional. Johnny Lyu, the KuCoin CEO, stated:

“We prioritize excellent buyer assist, efficiently addressing over 300,000 consumer inquiries by harnessing the facility of an AI-driven chatbot between January to June 2023. Belief and transparency kind the bedrock of KuCoin’s values.”

Moreover, the evaluate report famous that the trade has often printed its Proof of Reserves (PoR) knowledge since late 2022, assuring customers that their funds are absolutely backed. The most recent snapshot from June 30, 2023, reveals excessive reserve ratios for varied cryptocurrencies, comparable to Bitcoin (BTC), Ethereum (ETH), USDT, and USDC.

It’s value mentioning that KuCoin’s world growth efforts have been profitable, with over 300 new group members becoming a member of the corporate within the first half of 2023. Additionally, KuCoin’s world communities and social media presence has seen important progress, with a 20% improve in consumer engagement and a Twitter following of two.5 million, masking 24 world communities throughout varied languages and geographical areas.