KuCoin Thrives Despite Crypto Winter: 2022 Annual Review

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KuCoin 2022 reports a daily trading volume of $23 billion in the futures market, $12 billion in the spot trading market, and 27 million total users.

VICTORIA, Seychelles, January 19, 2023–(BUSINESS WIRE)–KuCoin, one of the top 5 global crypto exchanges, has released its Annual Review Report highlighting its key metrics and achievements in 2022. The guiding operating principle of KuCoins is to maintain resilience and see every obstacle as an opportunity to grow stronger. In 2022, KuCoin recorded steady growth in its registered users which exceeded 27 million.

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The start of the year saw a downturn in the crypto market, while the second half of the year presented even greater challenges and unpredictability. Despite these challenges, KuCoin the People’s Exchange has implemented new strategies to continue building and maintaining trust with its members and the broader crypto community. The company’s journey into Web 3.0 and the success of its funding round were highlights of the first half of 2022.

KuCoin’s spot and futures trading volume exceeded $3.6 trillion in 2022, representing a 52% year-on-year growth. In May 2022, the company reached high daily trading volumes of $23 billion in the futures market and $12 billion in the spot market. Additionally, KuCoin welcomed over 13 million new users to its platform, a 102% year-over-year increase. This cemented KuCoin’s position as one of the largest and most trusted crypto exchanges in the world, especially in the Asia-Pacific region where it added over 7 million users, marking an increase of 191% since 2021.

The company has also improved its investment in recruiting talent. The team has grown by 39% compared to 2021, and KuCoin plans to increase its workforce by an additional 20% in 2023 to continue improving productivity and innovation. KuCoin’s global communities, made up of 23 language groups in multiple geographies, grew to 1.3 million members in 2022, a 30% increase from the 21 communities and 1 million members it had in 2021 KuCoin has also been at the forefront of 24/7 delivery. customer support to its millions of users worldwide. In 2022, the new chatbot, launched in April 2022, handled requests from more than 870,000 users by the end of the year.

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KuCoin has also made significant progress in asset operations, launching 210 new assets in 2022. The total number of digital assets that can be traded on KuCoin now stands at over 750, with over 1,300 trading pairs. negotiation. This includes 24 projects on KuCoin Spotlight and 44 on KuCoin Burningdrop. In 2022, 81 tokens enjoyed their first global listing with KuCoin, a 50% growth from the top 54 global listings in 2021.

Overall, KuCoin remained resilient and determined to grow in the face of a dynamic market environment. KuCoin’s 2022 comprehensive review shows that the exchange has gained considerable traction in its global expansion and product rollout. However, much more needs to be done in the industry to rebuild user trust and focus on building, innovating, and improving industry standards for transparency, security, and compliance. The KuCoin team expects 2023 to be a building year, despite the crypto market downtrend and global economic recession. Click here for the full 2022 review.

About KuCoin

Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform focused on inclusivity and reach for community action, it offers over 700 digital assets and currently offers spot trading, margin trading, fiat P2P trading, term, staking and lending to its 27 million users in 207 countries. and regions.

In 2022, KuCoin raised over $150 million in investments in a pre-Series B round, bringing total investments to $170 million with the combined A round, for a total valuation of $10 billion. of dollars. KuCoin is currently one of the top 5 crypto exchanges according to CoinMarketCap. Forbes also named KuCoin one of the best crypto exchanges in 2021. In 2022, The Ascent named KuCoin the best crypto app for enthusiasts.

To learn more, visit https://www.kucoin.com.

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