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KuCoin – KCS Price Analysis: KCSUSDT signals long only through Q4 ’21 with RSI values piercing above level-75 across multiple time frames

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The KCS token was launched in 2017 as the native currency of the KuCoin cryptocurrency exchange, also popularly known as the people’s exchange.

Holders of the KCS exchange token of KuCoin are eligible to earn daily passive income, making KuCoin one of the few centralized crypto exchanges that offer rewards out of KuCoin’s 50% daily revenue.

Crypto traders on the KuCoin crypto exchange also get up to a 20% discount on trading fees when they hold the KCS token.

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Other opportunities available to KCS holders include the KuCoin Spotlight, Burningdrop, KCC [Decentralized public chain], KCS burn, 

KuCoin Spotlight serves as a platform for the launching and token distribution of early-stage crypto projects. KuCoin users can take part in the early investment of their chosen projects via Spotlight for future gains. With about 14 Spotlight projects launched so far, KCS holders have seen an ROI of up to 2763%.

The development of the KCC, a decentralized public milestone is a notable milestone for the KCS and KuCoin ecosystem, with the KCS used as the native token on the KCC which utilizes a Proof of Staked Authority consensus, mechanism.

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Lastly, it’s worth mentioning that the tokenomics of KCS is deflationary as the team regularly executes burning and buyback of the KCS token. Over 20millionUSD worth of KCS tokens have been burnt this year alone, which is about 3X higher than the accumulated 2019 and 2020’s burnt value.

Other than the KuCoin crypto exchange, traders and investors can find the KCS token listed on Poloniex, MXC, Probit, and AscendEX [formerly Bitmax].

Now, let’s analyze the price chart of the KCSUSDT, identify the market structures and price dynamics to validate if it’s a worthwhile investment for short and long-term investment.

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KuCoin KCS Daily Chart Analysis

KCS the KuCoin native cryptocurrency explodes into a strong uptrend after finding support after the oversold support on 21 September ’21 on the daily time frame above.

Hidden bullish divergence setups on 12 and 27 October signaled the trend continuation for higher price targets breaking above the bearish divergence resistance on 29 October.

Higher RSI values above level-25 and level-75 establish the bullish campaign and we’re confident that the trend should last through Q4 ’21.

KuCoin KCS 4HR Chart Analysis

Looking at the KCSUSDT from the intraday 4HR time frame, we can see how the oversold RSI levels on 27 October, 27 October, and 04 November, clearly mark the price floors for scaling into the uptrend that’s established on the daily time frame.

The current correction of KCS gains at press time is building up into a hidden bullish divergence setup for a trend continuation. However, even if the price slumps lower, driving the RSI below level-25, it’s still a win-win for the bulls as previous lower RSI values below level 25 already confirm a price floor after such pull-back.

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KuCoin KCS Intraday Levels

Spot rate: 22.777

Mid–Term Trend [H4]: Strong Bullish

Volatility: High

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Support: $20.993, $17.93, $16.48, and $14.890

Resistance:  $25.00

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KuCoin Labs launches $100M VC fund to empower early-stage metaverse projects

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KuCoin Labs, the company behind the world’s sixth-largest cryptocurrency exchange by trading volume with more than 500 crypto assets listed, announced on Wednesday that it would be launching a $100-million metaverse fund for early-stage projects. The money is to be also available for entities that develop blockchain-based games, nonfungible tokens (NFT) and decentralized applications. In addition, KuCoin will also provide business incubation services, branding, incentives and business partnerships for developers selected into the fund.

Johnny Lyu, CEO of KuCoin, said the following in a prepared statement obtained by Cointelegraph:

“KuCoin Metaverse Fund will be launched to accelerate the evolution of the internet industry. We hope to mature the emerging blockchain industry by further strengthening the application of blockchain technology to the metaverse projects.”

Lou Yu, the head of KuCoin Labs, added:

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“The concept of metaverse has remained at the theoretical level since it was proposed in the last century. It was not until the birth of the blockchain that metaverse became the next migration destiny for mankind.”

The concept of a metaverse, or augmented virtual reality with its own digital economy, has been gaining traction ever since Facebook rebranded itself as Meta last month to focus on its development. Shortly afterward, Microsoft ventured into the metaverse with Team updates and Xbox upgrades. Then, Animoca Brands unveiled its plans for a K-pop NFT metaverse. As more global brands move in, the total addressable market of the metaverse is projected to have grown to over $1.5 trillion by the end of 2030. Meanwhile, debates are ongoing as to whether or not the metaverse should be centralized.

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KuCoin Launches $100 Million Fund, Joins the Metaverse Race

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More companies are getting involved in building the Metaverse. The latest large brand to jump on board is the cryptocurrency exchange KuCoin.

The popular digital asset trading venue has launched a $100 million fund to focus on supporting teams wanting to develop metaverse projects. Dubbed the KuCoin Metaverse Fund, it will also incubate protocols from GameFi, NFTs, decentralized infrastructure, and more.

KuCoin’s $100M Metaverse Fund Arrives

The press release seen by CryptoPotato reads that the exchange, through its investment and research arm – KuCoin Labs, wants to delve into the development stages of arguably the hottest trend now – the metaverse.

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Aside from allocating $100 million to various projects, the fund promised to provide “full-scale support and incentive in terms of incubation, primary market investment, business partnership, branding, market management, and go-to-market strategy.”

It will also promote the mass usage of blockchain technology, with the primary focus on emerging markets like South America and Africa.

Kucoin’s CEO, Johnny Lyu, described the metaverse as the next chapter of the Internet, which is “poised to change the way we work, connect, shop, entertain, and have social interactions.”

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Consequently, the new fund will aim to “accelerate the evolution of the Internet industry. We hope to mature the emerging blockchain industry by further strengthening the application of blockchain technology to the metaverse projects.”

The Growing Metaverse Trend

As mentioned above, the metaverse idea has skyrocketed in popularity in recent months, especially after Mark Zuckerberg’s decision to rename the company behind the social media giant Facebook to Meta. It came as a surprise to many, but the billionaire asserted that it will allow the firm to focus more on developing the metaverse.

Aside from KuCoin’s new fund, numerous other cryptocurrency-based projects have announced intentions to enter the metaverse in some form.

The NFT investment company Sfermion was among the first as it raised $100 million through several high-profile institutional investors and VCs to get into the metaverse.

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Shortly after, the blockchain-powered gaming platform Enjin went with KuCoin’s route by forming a $100 million fund to support the development of a decentralized metaverse.

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KuCoin Makes a USD 100M Bet on Metaverse

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The investment and research arm of KuCoin exchange, KuCoin Labs, has launched a USD 100m fund to support metaverse-related projects and promote the metaverse education programs, assisting the public – particularly the younger generation – get acquainted with this new concept. 

Dubbed ‘KuCoin Metaverse Fund,’ the investment is aimed to support early-stage projects in metaverse, GameFi (‘gaming’ + ‘DeFi’ (decentralized finance)), non-fungible tokens (NFTs), and decentralized infrastructure.

“As the next chapter of the Internet, Metaverse is poised to change the way we work, connect, shop, entertain and have social interactions,” Johnny Lyu, CEO of KuCoin, was quoted as saying in an announcement.

KuCoin Labs intends to provide support beyond just funding, assisting projects in terms of incubation, partnerships, branding, market investment and management, and go-to-market strategy. The research team also aims to promote the adoption of blockchain technology, primarily in emerging markets like Africa and South America.

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“The concept of Metaverse has remained at the theoretical level since it was proposed in the last century,” said Lou Yu, the head of KuCoin Labs. 

“It was not until the birth of the blockchain that Metaverse became the next migration destiny for mankind. It’s no doubt that Metaverse will reverse our lifestyle.”

In late September, social media platform Facebook announced a USD 50m fund to “responsibly” develop the metaverse. One month later, the company changed its corporate name to Meta, reflecting its serious intentions in building the metaverse. 

Tech giants are expected to follow Facebook into the metaverse, and some have already done it. Satya Nadella, CEO of Microsoft, revealed earlier this month that the company is “creating an entirely new platform layer, which is the metaverse.” 

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Meanwhile, virtual world projects are also bursting in popularity. For instance, The Sandbox, a metaverse where players “can play, build, own, and monetize their virtual experiences,” raised USD 93m in a Series B funding round earlier this month. The Sandbox aims to enable players to explore its metaverse later this month. 

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