The KuCoin cryptocurrency exchange generated profits in the first half of 2022 despite the gloomy trend. The numerous statistics on the platform’s activity, which supports more than 700 trading assets at the moment, are extremely encouraging. For instance, there are more than 18 million platform users worldwide at the moment. Likewise, there are already more than 1,000 KuCoin employees.
Over $2 trillion worth of transactions were made using KuCoin.
The trade volume on the KuCoin exchange surpassed $2 trillion during the first half of 2022. Comparing this amount to the volume observed during the same time period in 2021, a 180 percent increase has been achieved. The platform recorded $11 billion in daily spot volume in May. At that time, the greatest daily volume for futures contracts was almost $23 billion.
The platform’s European trade volume reached $481 billion, a 381 percent rise over the first half of 2021, making it the highest in the world. Latin American trade is predicted to be worth $453 billion, growing at a rate of 189%. The equivalent amount in Africa and the Middle East increased by 152% to $392 billion.
With a valuation of $10 billion, all of these performances assisted KuCoin in raising $150 million in pre-Series B funding in May. In addition to the cash it has received, KuCoin has also entered into new agreements that will enable it to advance its development and make investments in Web 3.0.
Significant growth in both the number of staff and users
The number of new users for KuCoin increased by about 9.75 million, or 219 percent, as compared to the first half of 2021. It should be highlighted that Asia accounts for the majority of newly registered users—5.6 million across the continent. This figure shows a 659 percent annual rise.
In comparison to the first half of 2021, there were 216 percent more newly registered users in Latin America. When compared to the same period in 2021, they rose by 152% across Africa and the Middle East. On the continent of Europe, there has been a growth of 142%. There are currently over 18 million KuCoin users globally.
Additionally, throughout the first half of 2022, the KuCoin exchange hired close to 400 individuals. This made it possible for it to have more than 1,000 staff globally. The platform declared that it would adhere to its employment strategy. To this purpose, it disclosed that there are currently close to 300 openings in a variety of sectors.
The first half of 2022 has been quite profitable for the platform, despite the decline in cryptocurrency market values, according to a report just released by the cryptocurrency exchange KuCoin. Due to its expansion, KuCoin has introduced additional tools to enhance its customer care.
Source: KuCoin
