The native token of the KuCoin is listed on the AscendEX on April 19, 2021. KuCoin made this announcement while making it public that the trading pair of KCS/USDT is now available for investment and transaction purposes on the AscendEX. AscendEX provides cryptocurrency-related services to investors in more than 200 countries and a prominent name in the crypto exchange domain.
This listing is expected to result in more liquidity for the ecosystem of KuCoin that will help in its future development projects. In terms of a total supply, KCS has set the limit at 200 million, and the monthly burn plan will continue to remain in force until the supply drops to 100 million KCS tokens. The very latest burnt happened on April 14 when KCS worth 1,983,246 USDT (160,723 KCS tokens) went under the burn process.
Currently, the total KCS token supply is estimated to be around 169 million, while in terms of the circulation supply, the number is pegged at 79.28 million. The total market capitalization of KCS is around $1.16 billion, and in terms of rank, the token is featured in the top hundred cryptocurrencies with 91st overall position.
KCS has been well-entrenched into the ecosystem of KuCoin as users can use it in many different ways. For instance, the bonus criteria where any user who holds 6 KCS is eligible for having the daily bonus. The token can also be used to pay the fee for the trading on KuCoin, and the best part is that users will get a 20% discount if they pay the trading fees using KCS. Besides, users can participate in the token sales and Pool-X using the KCS.
It won’t be an exaggeration to say that KCS is the backbone of the ecosystem created by the KuCoin, and its listing on the AscendEX is a positive start for the entire community. The main strategic objective that KuCoin will achieve through this listing is the enhancing the popularity of the token and make it available across all popular platforms in the crypto sphere in the future.