KuCoin 2022 reports $23 billion daily trading volume in futures market, $12 billion in spot trading market, and 27 million total users.
VICTORIA, Seychelles--(BUSINESS WIRE)--KuCoin, a top 5 global crypto exchange, has released its yearly review report highlighting its main metrics and achievements in 2022. KuCoin’s guiding operational principle is to maintain resiliency and view every obstacle as an opportunity to become stronger. In 2022, KuCoin achieved consistent growth in its registered users which surpassed 27 million.
The beginning of the year saw a downturn in the crypto market, while the latter half of the year presented even greater challenges and unpredictability. Despite these challenges, KuCoin – the People's Exchange – has implemented new strategies to continue to build and maintain trust with its members and the broader crypto community. The company's venture into Web 3.0 and successful financing round were the highlights of H1 2022.
Transaction volume on KuCoin's spot and futures markets exceeded $3.6 trillion in 2022, representing 52% YoY growth. In May 2022, the company reached daily trading volume highs 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 YoY increase of 102%. This solidified KuCoin's position as one of the largest and most trustworthy crypto exchanges globally, especially in the Asia-Pacific region where it added over 7 million users, marking a 191% increase since 2021.
The company also improved its investment in talent recruitment. The team grew by 39% compared to 2021, and KuCoin plans to grow its workforce by an additional 20% in 2023 to continue improving productivity and innovation. KuCoin's global communities, consisting of 23 language groups across 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 delivering 24/7 customer support to its millions of users globally. In 2022, the new chatbot, launched in April 2022, has handled inquiries from over 870,000 users as of the end of the year.
KuCoin also made significant strides 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 more than 1,300 trading pairs. This includes 24 projects on KuCoin Spotlight and 44 on KuCoin Burningdrop. In 2022, 81 tokens enjoyed their world premiere listing with KuCoin, a 50% growth from the 54 world premiere listings in 2021.
Overall, KuCoin has remained resilient and dedicated to growing in the face of a dynamic market environment. The full 2022 KuCoin review showcases that the exchange has achieved considerable traction in its global expansion and product deployment. However, much needs to be done in the industry to rebuild user trust and focus on building, innovating, and raising industry standards of transparency, security, and compliance. The KuCoin team expects 2023 to be a year for building, despite the ongoing crypto market downtrend and global economic recession. Click here to get the full 2022 review.
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 700 digital assets and currently provides spot trading, margin trading, P2P fiat trading, futures trading, staking, and lending to its 27 million users in 207 countries and regions.
In 2022, KuCoin raised over $150 million in investments through a pre-Series B round, bringing total investments to $170 million with Round A combined, at a total valuation of $10 billion. 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 find out more, visit https://www.kucoin.com.