Bitcoin is trading between $33,000 and $35,000, while altcoin markets are more bullish than the leading cryptocurrency. Today, one token made a surprising splash. KuCoin Token has seen a steep price increase following some announcements on Twitter, including a football-themed giveaway.
What happened: KuCoin’s altcoin has increased by 40% in the last 24 hours
The price of KuCoin Token is at $11.11 as of writing. The coin was changing hands at around $7 earlier last week. The sudden price action followed the announcements made by the cryptocurrency exchange behind the token. Earlier today, KuCoin announced the $30,000 listing and draw for FormationFi (FORM), a distribution event for 2CrazyLive. In addition, he announced that he carried out a priced survey for users. Last week, the cryptocurrency exchange asked football fans to post a photo with the KuCoin logo while watching the Euro 2020 matches, and announced a draw again.
Altcoin earned 40x more than Bitcoin today
As we reported , Bitcoin gained 1 percent in the last 24 hours, while KuCoin Token (KCS) increased by 41 percent according to the information. With a market cap of $865 billion, KuCoin ranks 85th among the coins ranked by market cap. The 7-day benefit of the altcoin stands out as 52.5 percent, and the 14-day benefit is 76.1 percent. KuCoin Token hit its all-time high on January 10, 2018 – at its current price, it has since lost 44.9 percent of its value. On an annual basis, KCS experienced an increase of over 1,000 percent.
KuCoin Token is a profit-sharing token that mostly allows traders to withdraw assets from the exchange. It was released as an ERC-20 token that works on the Ethereum network. It is also supported by many Ethereum wallets. The total supply of KCS is set at 200 million, a planned coin burn is taking place until only 100 million KCS supplies remain.
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