What's Up With KuCoin Token (KCS) Today?

KuCoin Token KCS/USD, the profit-sharing token associated with the namesake cryptocurrency exchange, has soared more than 75% over the last seven days.

What Happened: KCS traded 36.29% higher at $12.97 at press time over 24 hours. The cryptocurrency has risen 75.61% over the seven-day trailing period.

KCS traded 36.11% and 31.36% higher against Bitcoin BTC/USD and Ethereum ETH/USD, the two largest cryptocurrencies by market capitalization.

See Also: How To Buy Ethereum (ETH)

On Tuesday, KuCoin saw some social media traction and continued to be the top trending coin on CoinGecko's search at press time.

See Also: KuCoin Token Jumps 53% After EURO 2020 Giveaway Announcement

Why It Matters: KuCoin is envisaging a token burn and a buyback that will reduce the total supply of KCS to 100 million from the initial number set at 200 million.

The project noted the movement in its coin on Twitter on Tuesday night.

$KCS pic.twitter.com/Y4DzHtBRTj

— KUCOIN (@kucoincom) July 7, 2021

Also on Tuesday, KuCoin noted in a blog that Robinhood, a retail favorite online brokerage, is going public soon and the platform’s increased reliance on the cryptocurrency market “could bear fruits in the future” and bring about mass adoption.

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Photo: Courtesy of KuCoin