Some positive news coming from the popular exchange, KuCoin, has led to a solid uptick in the cryptocurrency of the same name. KuCoin Shares (KCS) is up nearly five percent overnight as a series of news-worthy developments are released in time for the potential bull run investors in the market are expecting.
KuCoin, the exchange known for its low fees and impressive list of altcoins, is experiencing a well-timed influx of headlines just in time for this expected increase in market participation. From the new listing of Arcblock (ABT), the creation of “special treatment areas” for underperforming currencies, and the re-implementation of their generous referral bonus, KuCoin looks ready to grab the bull by the horns heading into summer.
Adding to the long list of altcoins available on the KuCoin exchange, the addition of Arcblock (ABT) has made the news cycle recently. Arcblock (ABT) is an open source protocol providing an abstract layer for accessing underlying blockchains. Billing itself as the “world’s first blockchain ecosystem for building and deploying decentralized applications,” the new listing may be boosting KuCoin’s (KCS) value as much as KuCoin is boosting theirs.
But that’s not the only news increasing the value of the exchange based token. KuCoin has recently implemented a novel way of dealing with under-performing coins. While the inclusion of coins that consistently sink in value may be necessary to balance the growing number of altcoins doing well on the exchange, these dogs of the crypto-universe shouldn’t be allowed to bog down solid players as investors wade through the diverse listings on the expanding platform. KuCoin’s answer to the problem of under-performing currencies is to separate them into a “special treatment area.” This area will also include coins that have become ensnared with legal issues. Including this area will give consumers a warning to use caution before dropping their hard-earned Ethereum (ETH) or Bitcoin (BTC) on a wildcard cryptocurrency listed on the exchange. Giving consumers the ability to discern from the good and bad players available gives KuCoin an extra level of credibility that may be translating into an increased market value for KuCoin Shares (KCS).
The main reason behind the sudden rise in value for the token, however, is more likely due to the reinstatement of the Referral Bonus Program. Allowing savvy consumers to invite their friends and reap solid rewards will no doubt help the growth of the exchange over the long run. The bonus will be effective for the next year, gifting twenty percent of the value on each referred order. An expected increase in the exchange’s user base will obviously increase the value of the exchange token, KuCoin Shares (KCS), which gives holders of the token a share in the companies revenues.
The series of developments coming out about KuCoin speaks volumes about the expected increase in participation across the market. And as we watch the little green candlesticks representing the value of cryptocurrencies grow over the coming day(s), it may be time to reach out from the comfort of our favorite exchanges and experiment with another we have yet to try. KuCoin and KuCoin Shares (KCS), with the reinstatement of their Referral Bonus Program, look ready to benefit from the influx of wealth the general market is experiencing.
For the latest cryptocurrency news, join our Telegram!
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Pexels
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…