Today, our attention was drawn to the token of the Kucoin cryptocurrency — KCS
First of all, KCS attracted our attention by the fact that when the crypto market in the last days went to the correction, the KCS price updates its historical high.
KCS is a working token that provides additional bonuses and privileges to Kucoin holders and users, in addition to the theoretically possible price growth. Similar to BNB from Binance, but the price is 30 times lower.
Today, let’s take a look at the global chart of what the KCS token has prospects, and in the future we may write a whole series of ideas on how we like to do it with tokens and coins which we think are technically going.
So, a little history:
The previous ATH of the KCSUSD price was fixed at the end of December 2017, when the end of the altseason continued throughout the crypto market — the high of $21.30.
During 2019-2020, someone very confidently gained a position, smoothly, in the wide range of $0.70-$2, everything is as it should be before further growth.
However, on 25 September, 2020, a “trouble” occurred — the Kucoin exchange was hacked and taken out according to various estimates from $250 to $285 million.
As you can see in the chart, from the moment of the hack and while the funds were sought and returned, the KCSUSDT price fell by another -40%.
But as people say, “what doesn’t kill us makes us stronger.”
The Kucoin management assures that due to close cooperation with other cryptocurrencies they managed to return 84% of what was stolen, and 16% they returned from their own reserves. That is, ordinary users, as you and I were a little scared, and convinced of the customer orientation of the exchange.
And the KCS token value has grown a lot since then and as many as +4100%, so those who believed and supported were generously rewarded.
Accordingly, what prospects do we see:
Now a small correction of the KCSUSD price in the zone of $20-$21 is possible and there is a good zone for purchase in a long-term long.
After all, the target for growth is at least x5 in the zone of $100-$110 for one KCS.
If you are interested in this token, and possible movements of its price in the future, write about it in the comments.
We will see your interest, then once a week we will publish updates on possible price movements on smaller timeframes.