The KuCoin Token (KCS) has emerged as the top gainer among the top 100 cryptocurrencies. The rally comes while the KuCoin crypto exchange registers high trading volume.
KCS is up by 32% in the past 24 hours and is trading at $12.91 at the time of writing. The asset’s market cap rose to $1.25 billion, making it the 56th largest cryptocurrency.
Data shows that KuCoin Token’s daily trading volume also witnessed a 188% jump, reaching $16.5 million.
According to data provided by CoinGecko, KuCoin is back to the top 10 crypto exchanges in terms of trading volume with the platform ranking sixth with a 24-hour trading volume of $1.21 billion.
CoinGecko reported in late October that KuCoin dropped out of the top 10 exchanges list in Q3 this year. The leading crypto exchange, per CoinGecko, is still Binance with a 43.9% share of the total trading volume.
According to data provided by the market intelligence platform Santiment, KuCoin Token’s social volume saw a 108% surge over the past 24 hours.
However, KCS’s Relative Strength Index (RSI) hovers above 83, suggesting the possibility of a price pullback, according to Santiment. If KCS’s RSI falls below 65, there could be a good chance of a bullish momentum.
Moreover, Santiment data shows that KuCoin Token’s price-daily active addresses (DAA) divergence stands above 42%, suggesting a buy signal. When the price DAA divergence falls to the negative side, it could indicate that the asset’s price could be manipulated by whales
