The first half of 2022 has been bearish for all crypto markets, but the industry remains resilient. The H1 2022 report by KuCoin confirms global interest in crypto assets is rising. In addition, lower prices present better buying and investment opportunities, as cryptocurrencies have become far more affordable this year.
H1 2022 Is Bullish For KuCoin
Even though the prices of bitcoin and ether may not reflect it, the first half of 2022 has been rather bullish for the cryptocurrency industry. Global leading exchange KuCoin has noted massive growth across all verticals, confirming the rising interest in crypto assets. Some users prefer traditional trading, whereas others explore futures markets. However, the common denominator is the massive demand for exposure to cryptocurrencies and the opportunities these markets represent.
Per the H1 2022 report by KuCoin, the exchange notes spectacular statistics:
- 9.75 million new users, bringing its total to over 18 million
- KuCoin grows strongly in Asia, Europe, and Africa & the Middle East
- Asian users increased by 659% YoY
- Over $2 trillion in cumulative spot and futures trading
- Europe leads the trading volume with $481 billion — up 381% — ahead of Latin America ($453 billion, +189%) and Africa & the Middle East ($392 billion, +152%)
- 137 new crypto assets listed
- Launching the Windvane NFT marketplace and KuCoin Wallet
Those metrics confirm that people show a greater interest in cryptocurrencies despite plummeting prices. More importantly, KuCoin’s growth shows how Asia remains a big continent to focus on for this industry. Despite regulatory concerns in China and privacy coins not welcomed in Japan and South Korea, many people still want exposure to bitcoin, ether, and other currencies.
Funding And Investments
It is also worth noting that KuCoin raised $150 million in pre-series B funding this year. That funding allowed the company to grow its employee count to over 1,000, with roughly 300 more hires in the pipelines. Additionally, the $100 million Creators Fund will bring more funding to Web3 builders and explorers, paving the way for a more decentralized World Wide Web.
The exchange wants to play a broader role in the decentralized space and continues to look for innovative projects with aligning values. KuCoin Labs — KuCoin’s investment arm — invested $20 million in over a dozen crypto-native projects in the first half of 2022.
With such strong growth during the bear market of H1 2022, it will be intriguing to see what the second half of the year hold for KuCoin. Crypto markets show signs of rebounding, which can spark a new wave of interest and excitement.
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