KuCoin token surges 32% in 24 hour trading

KuCoin is back in the top 10 crypto exchanges by trading volume, ranking sixth with a 24-hour trading volume of $1.21 billion.

The KuCoin Token (KCS) has emerged as the top gainer among 100 cryptocurrencies. The rally comes while the KuCoin crypto exchange registers high trading volume. 

KCS is up by 32% in the past 24 hours and is trading at $12.91 at the time of writing. The asset’s market cap rose to $1.25 billion, making it the 56th largest cryptocurrency. 

Data shows that KuCoin Token’s daily trading volume also witnessed a 188% jump, reaching $16.5 million.

According to data provided by CoinGecko, KuCoin is back to the top 10 crypto exchanges in terms of trading volume, ranking sixth with a 24-hour trading volume of $1.21 billion. 

CoinGecko reported in late October that KuCoin dropped out of the top 10 exchanges list in Q3 this year. The leading crypto exchange, per CoinGecko, is still Binance, with a 43.9% share of the total trading volume. 

According to data provided by the market intelligence platform Santiment, KuCoin Token’s social volume saw a 108% surge over the past 24 hours. 

However, KCS’s Relative Strength Index (RSI) hovers above 83, suggesting the possibility of a price pullback, according to Santiment. If KCS’s RSI falls below 65, there could be a good chance of a bullish momentum.

Moreover, Santiment data shows that KuCoin Token’s price-daily active addresses (DAA) divergence stands above 42%, suggesting a buy signal. When the price DAA divergence falls to the negative side, it could indicate that whales could manipulate the asset’s price.