Well, what a week this has been for KuCoin and the wider crypto market. Recently, news came out of Tesla buying $1.5 billion worth of Bitcoin, placing a lot of focus firmly on the crypto market’s premier product. This played a part in BTC once again reaching a new ATH of $58,336, growing in the region of 18% in the week. As big as that news is, that is just the tip of the iceberg that was these past 7 days.
Looking towards the altcoin world, there are three examples from the last week that stand out the most and are worth looking into. Today, KuCoin Blog will introduce them to you.
KuCoin Token (KCS)
Anyone who has used KuCoin is likely familiar with KCS, the native token of the exchange. It’s uses range from the ability to get a 20% discount on trading fees to the KuCoin Bonus — receiving daily bonuses from half of the trading fees the exchange takes in every day. That is far from the whole story, however.
The big news is how CEO of KuCoin, Johnny, stated that ‘Empowering KCS’ is one of the two main priorities for KuCoin going forward. Development of the wider KCS ecosystem has been ongoing behind the scenes, meaning more uses and more value for the token. Some news relating to this will be announced in the coming week. With the trading volume of KuCoin increasing, the estimated APR of KCS bonus exceeds 26%. Add to that the growing user base of the platform and token and the upcoming 13th KCS burn, and it is easy to see why KCS had an ROI of 165.9% over the last 7 days.
Trade KCS and 200+ other altcoins on KuCoin.
With another passing week comes another popular DeFi project. PancakeSwap is a leading DEX that runs on the Binance Smart Chain. It operates as an automated market maker, allowing users to exchange tokens, as well as earn CAKE through yield farms and staking. CAKE, in turn, is used for governance and rewards.
There have been a number of forces that have played a role in CAKE’s growth this week. There is the bullish market, the increased interest in DeFi and the rising transaction costs on Ethereum. That last one is important as PancakeSwap uses Binance Smart Chain, which recently moved to lower the gas fee on the chain from 15 Gwei to 10 Gwei. This stability has likely drawn the attention away from Ethereum-based DEXs and led to CAKE’s 24h trading volume surpassing UNI’s (a major competitor in the space) and a 140.6% ROI over the last 7 days.
Trade CAKE and 200+ other altcoins on KuCoin.
Fantom is a fast, high-throughput open-source smart contract platform for digital assets and dApps. It is a secure, developer-friendly platform that can be used for endless solutions like the aforementioned digital tokens and Ethereum DApps, among other possibilities. The FTM token is used for staking, governance and payments.
What brings Fantom to the discussion today is a number of different things. It is no secret that FTM has been on the rise over the last few months. New partnerships, features and more helped achieve that. Fantom Finance in particular started to gain traction as a DeFi player. The recent news of its cooperation with the UAE, Ukraine and Afghanistan also helped solidify its legitimacy as a powerful, scalable and dependable blockchain platform. All in all, FTM has enjoyed a 133.2% ROI over the last 7 days.
Trade FTM and 200+ other altcoins on KuCoin.
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3 Altcoins To Keep Tabs On — KCS, CAKE, FTM | KuCoin Weekly Review Issue #9 was originally published in kucoinexchange on Medium, where people are continuing the conversation by highlighting and responding to this story.
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