KuCoin Reports A Massive Growth in Spot Trading and User Base in 2023
KuCoin, a Seychelles-based crypto exchange, achieved significant growth in 2023, as detailed in its latest report.
In 2023, KuCoin saw a 106% increase in spot trading and a 16% rise in users, reaching 31 million. Latin America led in user growth, followed by the Middle East, Africa, and Europe.
Social media played a crucial role in KuCoin's expansion, with its X and Instagram followers growing by 14% to 2.9 million. The exchange's customer support also aided their growth by resolving over 1.5 million queries.
An AI-driven chatbot that they implemented helped in quickly addressing user issues, assisting over 800,000 people. KuCoin also implemented strong and sophisticated anti-fraud measures to improve security and reduce scams.
KuCoin's Proof of Reserves reports showed solid backing for major cryptocurrencies. It added 149 new assets in 2023, bringing its total to 830 digital assets and 1,246 trading pairs.
The native KuCoin Token (KCS) had its 42nd burn in December 2023, reducing its supply and seeing an 11% increase in adoption, with 1.9 million holders now.
