• News
    • Bitcoin
    • Altcoins
  • Blockchain
  • NFT
  • Metaverse
  • Regulation
  • Learn
  • Market Cap
What's Hot

3AC Co-Founder Zhu Su Arrested at Airport, Receives Four Month Jail Sentence for Contempt of Court: Report

2023-09-29

Terra’s Do Kwon and Daniel Shin conspired to falsify transactions, chat logs show

2023-09-29

Are Bitcoin’s long-term prospects brighter than you imagine?

2023-09-29
Facebook Twitter Instagram
Top Coin Spot
  • News
    • Bitcoin
    • Altcoins
  • Blockchain

    peaq & Fetch.ai Unveil Multi-Chain IDs for Vehicles & Devices on Polkadot-Cosmos Ecosystems

    2023-06-13

    Taiwan Mobile Considers Partnerships with Local Cryptocurrency Platforms

    2023-06-13

    Biconomy Collaborates with SPACE ID to Support Withdrawals to Domain Names .arb and .bnb

    2023-06-13

    BNB Chain Deploys BEP-126 Update to Enhance Security and Reliability

    2023-06-13

    PawChain Sets to Revolutionize Blockchain Utilities

    2023-06-12
  • NFT

    Animoca Brands to Create Web3 Digital ID System

    2023-09-12

    Generative AI Could Make Government Mechanism Less Annoying

    2023-09-12

    Hundreds of Nouns Holders Rally to Exit DAO, Leading to Treasury Split

    2023-09-11

    Exploring Communion In Collaboration with AI

    2023-09-09

    Christie’s Honors Keith Haring at The Gateway: Korea

    2023-09-09
  • Metaverse

    Meta Unveils Next-Gen AI Tools and Digital Companions for the Metaverse

    2023-09-29

    Valentino Rossi Steps into The Sandbox with ValeVerse

    2023-09-27

    Opportunities for Artists and Creators at Decentraland Music Festival 2023

    2023-09-26

    Hitachi Leverages Metaverse and VR for Next-Generation Workforce Training

    2023-09-25

    Upland and KABOOM! Unite to Address Playspace Inequity

    2023-09-22
  • Regulation
  • Learn

    What Is Toncoin (TON)? Everything You Need To Know

    2023-09-28

    Who Is Satoshi Nakamoto? Mysterious Bitcoin Founder

    2023-09-25

    What is NBA Top Shot? A Beginner’s Guide

    2023-09-22

    What Are Bridges in Crypto? Cross-Chain Bridges, Explained – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    2023-09-21

    SingularityNET (AGIX) Price Prediction 2023 2024 2025

    2023-09-18
  • Market Cap
Top Coin Spot
Home»Altcoins»Attention KCS holders! This week may be far from your expectations because…
Altcoins

Attention KCS holders! This week may be far from your expectations because…

2022-11-13No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Crypto property or corporations, due to the FTX publicity, are both being dumped like FTT or closing store like BlockFi. And allegedly KuCoin trade’s publicity to FTX spooked customers. Amidst the general bearish market sentiment and BTC struggling to interrupt the $18K resistance, customers feared the trade could possibly be adversely affected alongside its native token (KCS). 


Learn KuCoin’s [KCS] worth prediction 2023-2024


Johny Lyu, Ku Coin trade CEO, swiftly clarified that there was no direct publicity to FTX. He reiterated that the trade by no means deposited cash in FTX. Moreover, he famous that they deliberate to subject proof-of-reserves and champion as an business commonplace to rebuild belief within the business. 

As a part of the transparency name within the area, the CEO issued cold and warm wallets of its trade’s crypto holdings.

From day 1 of constructing KuCoin, we have now been clear to our customers. The overview of a few of KuCoin’s cold and warm pockets addresses are clickable for his or her present holdings. https://t.co/zpjdlwoSpx https://t.co/vEuNY6LhW9

— Johnny_KuCoin (@lyu_johnny) November 11, 2022

Moreover, it was price noting that the trade held about 70 million KCS, its native token. In comparison with the 98 million KCS whole circulating provide, the trade held roughly three-quarters of the native coin. Compared, the Binance trade held 58 million BNB, its native token, out of the 158 million within the present market circulation. That’s roughly a 3rd of the whole provide. 

Nevertheless, KuCoin’s publish of proof-of-funds attracted combined reactions from customers. Some praised the transfer. However others referred to as for full transparency by exhibiting their liabilities and debt obligations. The combined sentiment undermined KCS’s worth efficiency and uncovered its holders to losses.

See also  Hundreds of Nouns Holders Rally to Exit DAO, Leading to Treasury Split

KCS on the charts 

Supply: TradingView

KuCoin was down by 5% on the every day chart, buying and selling at $7.324 as of 12 November. The Relative Energy Index (RSI) had barely retreated from the oversold territory earlier than making a U-turn in the direction of it once more. Moreover, KCS might have witnessed an enormous sell-off amid its important worth drop. KCS shed nearly $50 million of its market cap, dropping from $770 million to about $720 million, as per Coinmarktcap information. 

A metric viewpoint

Evaluation of knowledge from Santiment confirmed that KCS’s weighted sentiment dropped, indicating a bearish sentiment on the token. Correspondingly, the variety of lively addresses elevated throughout the final 24 hours as the worth dropped, a probable indication of customers disposing the token. 

An uptick in quantity confirmed the constructing promoting strain that dented holders’ earnings. The 30-day Market Worth to Realized Worth (MVRV) was additionally optimistic until 7 November. However on 12 November, it tanked deeper into the adverse territory, thus exhibiting that short-term KCS holders incurred extra losses. 

Supply: Santiment

Though the readability on FTX publicity and issuing of proof-of-reserves was to construct person belief, KCS’s efficiency displays the alternative consequence. The present bearish sentiment in the marketplace might additional expose KCS holders to extra losses. 



Source link

attention because.. Expectations holders KCS week
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

A look at long-term holders show Bitcoin is here to stay

2023-09-25

Chainlink surges 15% in a week as Bitcoin and Ethereum lag behind

2023-09-24

US Lawmakers To Review Bill on Preventing Creation of CBDC This Week

2023-09-19

Hundreds of Nouns Holders Rally to Exit DAO, Leading to Treasury Split

2023-09-11
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Coinbase reportedly plans on opening new crypto trading platform overseas

2023-03-17

CryptoQuant Warns Of A Massive Selling In Ethereum Soon! What’s Next for ETH Price

2022-12-19

Crypto.com Puts Luxury on Your Finger with Bäumer Vendôme NFT Collection

2023-07-19

Subscribe to Updates

Get the latest news and Update from Top Coin Sports about Crypto, Metaverse, NFT and more.

About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest YouTube
Top Insights

3AC Co-Founder Zhu Su Arrested at Airport, Receives Four Month Jail Sentence for Contempt of Court: Report

2023-09-29

Terra’s Do Kwon and Daniel Shin conspired to falsify transactions, chat logs show

2023-09-29

Are Bitcoin’s long-term prospects brighter than you imagine?

2023-09-29
Get Informed

Subscribe to Updates

Get the latest news and Update from Top Coin Sports about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
© 2023 Topcoinspots.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$26,890.00-0.61%
  • ethereumEthereum(ETH)$1,666.430.76%
  • USDEXUSDEX(USDEX)$1.080.18%
  • tetherTether(USDT)$1.000.01%
  • binancecoinBNB(BNB)$214.44-0.44%
  • rippleXRP(XRP)$0.510.61%
  • usd-coinUSDC(USDC)$1.00-0.10%
  • staked-etherLido Staked Ether(STETH)$1,667.950.72%
  • cardanoCardano(ADA)$0.249971-0.28%
  • dogecoinDogecoin(DOGE)$0.0619610.59%