Ahead of the Coinbase IPO, crypto traders are getting excited over exchange tokens. One particular exchange that is getting a lot of attention is KuCoin (CCC:KCS), and its native token, KCS. The KCS token’s rapid growth through Q1 is leading to KuCoin (KCS) price predictions ahead of next week’s big IPO event.
KuCoin is an interesting exchange. It allows users, much like every other exchange, to purchase the usual suspects: Bitcoin (CCC:BTC), Ethereum (CCC:ETH), Litecoin (CCC:LTC) and onward. But, its biggest draw is its native token, KCS. KCS owners can use the profit-sharing token to build passive income. This is because KCS holders are paid daily dividends, pulled from half of each day’s trading fee revenue. The amount of KCS tokens caps out at 200 million, but the exchange plans on buying back and destroying 100 million in the future, a decision that ensures further gains.
In the meantime, the company is seeing its fair share of hype through 2021. The KCS crypto token saw a low $1.12 price in mid-February, but it has since rebounded. The token has increased by around 1,000% since this low. Today, the token is up by 38%, trading at a whopping $16.40.
It’s easy to see why investors have picked up the KCS coin as a viable crypto play. It has seen growth in massive waves in the last two months, and the plan to buy back half of the tokens will ensure future growth.
KuCoin (KCS) Price Predictions
Let’s now take a look at some of the KuCoin (KCS) price predictions coming before the Coinbase IPO:
- Gov Capital is bearish on KCS still, predicting the $16 price point to cool of to around $10 by the end of the year.
- However, some crypto analysts like those at WalletInvestor are very bullish on KCS, and they predict a $33 price point.
- A small but dedicated r/KuCoin subreddit has fervently predicted KCS prices. One user actually made a set bi-monthly prediction back when the KCS crypto was trading for just over a dollar, and so far, the predictions have been almost dead on.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article.