Prominent global cryptocurrency exchange KuCoin recorded substantial advancements in various aspects of its operations in the first quarter of 2024. KuCoin witnessed an explosive 121.85% growth in spot trading volume in the first half of 2024 compared to the figures from Q4 2023.
The exchange announced this milestone in its latest review report for the first quarter of the year. The report noted that the surge in spot volume was particularly noteworthy in the Middle East and North Africa (MENA) region. In particular, the MENA region lead in volume increase with an impressive surge of 263.91%.
Meanwhile, KuCoin remarked that it stood resilient amid market fluctuations despite encountering a blend of hurdles and triumphs. The exchange pointed out that the initial months witnessed bullish market sentiment and regulatory adjustments, presenting opportunities and obstacles.
Aside from spot trading volume growth, KuCoin achieved notable milestones across various other metrics. One such achievement was the expansion of its user base, which grew by 4.32% compared to the previous quarter. As of March 2024, KuCoin boasts nearly 32 million registered users.
Furthermore, during Q1 2024, KuCoin’s most notable expansion in its user base was in the Latin America region, with a growth of 16.26%. Additionally, the platform experienced substantial user base increases in other pivotal regions, such as the Middle East and Africa (11.29%) and Europe (6.98%), compared to Q4 of 2023.
Moreover, KuCoin noted that January to March showcased a substantial uptick in pre-market trading volume, reaching 23.12 million. This figure is a notable 68% increase from the preceding quarter. Additionally, the exchange experienced a 47% surge in unique users, surpassing the milestone of over 13,500 individuals.
During the first quarter of 2024, KuCoin introduced 73 new assets, propelling the total number of tradable digital assets to 892. This expansion facilitated the support of 1,283 trading pairs by March 2024. Additionally, KuCoin BurningDrop extended its support to 11 projects during this period.
Regarding community engagement, in Q1 of 2024, KuCoin reached significant milestones on social media platforms. Notably, it surpassed 2.9 million followers on Twitter/X. Additionally, during this quarter, KuCoin hosted 37 Twitter Spaces sessions in collaboration with its crypto ecosystem partners.
Moreover, KuCoin disclosed internal achievements during the same period. Its customer support was pivotal in user acquisition and retention efforts, operating round-the-clock to address over 500,000 queries in Q1 2024.
In anticipation of bullish market trends, KuCoin bolstered its Help Center by incorporating many articles into multiple languages. Additionally, the exchange implemented AI-driven tools for language translation and content creation, aiming to enhance team productivity and elevate the overall customer experience.
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