In the first quarter of 2024, KuCoin, a leading global cryptocurrency exchange, reported significant growth across multiple dimensions of its operations. The exchange saw a notable surge in spot trading volume by 121.85% with the MENA region, in particular, demonstrating the highest growth by 263.91%. This period also highlighted a substantial increase in pre-market trading volume to 23.12 million, marking a 68% rise from the previous quarter, and the number of unique users grew by 47% to over 13,500.
KuCoin’s commitment to enhancing user experience and expanding its services continued to yield positive outcomes. Over the quarter, the exchange added 73 new assets, bringing the total to 892 tradable digital assets. Additionally, KuCoin’s innovative trading solutions like the KuCoin Trading Bots saw over 1.3 million new setups, indicating robust user confidence and engagement. Further cementing its market position, KuCoin launched its educational program and CSR initiatives ‘KuCoin Campus” to ensure users are well-informed and equipped to navigate the evolving crypto landscape.
Key Figures
- Strong Growth in Spot Trading, volume boosted by 121.85% compared to 2023 Q4;
- MENA took the lead in increased spot trading with 263.91% growth;
- Pre-market trading volume surged to 23.12 million, making a substantial 68% increase from Q4 2023, with unique users exceeding 13,500, representing a 47% rise.
KuCoin’s user base grew by 4.32% compared to the previous quarter, approaching a total of 32 million registered users as of March 2024.
In Q1 2024, the most significant growth in its user base was in the Latin America region, which experienced a 16.26% increase. Additionally, the exchange observed substantial user base growth in other key regions, including the Middle East and Africa (11.29%) and Europe (6.98%), compared to 2023 Q4.
According to KuCoin’s report, significant growth in spot trading volume was witnessed in the first quarter of 2024, showing a 121.86% growth compared to Q4 2023. Similar trends are observed in the Middle East and Africa regions (+263.91%).
In 2024 Q1, KuCoin achieved notable milestones on social media, surpassing 2.9 million Twitter/X followers. Throughout this quarter, the crypto exchange hosted 37 Twitter Spaces with its crypto ecosystem partners, underscoring KuCoin’s focus on fostering a robust and supportive community, thereby reinforcing its position as a leading industry player.
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About KuCoin
Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community action reach, it offers over 800 digital assets and currently provides Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 30 million users in more than 200 countries and regions. In 2023, KuCoin was named one of the Best Crypto Exchanges by Forbes and recognized as a highly commended global exchange in Finder’s 2023 Global Cryptocurrency Trading Platform Awards.
