The investment group issued their very first industry report with in-depth analysis.
The KuCoin report notably points out that centralized exchanges (CEX) are falling behind their decentralized (DEX) counterparts.
KuCoin Labs published their second quarterly report this week, on Thursday, September 2. The report also surveyed how users came to decentralized finance (DeFi). It found that meme coins and non-fungible tokens attract the most Dapp users. These Dapp users are also less likely to engage in a CEX.
Users attracted to crypto through majors coins like Ethrereum and Bitcoin are more inclined to use a CEX. The report indicated that CEXes must adopt the ideas of DEXes to continue to play a role in crypto.
“We are glad to see that the first industry research report by KuCoin Labs goes live today. The report contains in-depth research on the major development trends, and market performance of the crypto industry in Q2 2021, which can be considered as a significant reference for the industry research,” Lou Yu, Head of KuCoin Labs, stated in the KuCoin blog from September 2nd.
The report provides a survey of the overall health and tendencies of the industry. It also documented increases in Ethereum and Bitcoin addresses that correlated to the growing NFT space.
Regulations and Stablecoins
The crypto industry has its volatilities, but––as the report indicates––this sometimes leads to innovative solutions, like stablecoins. The need to mitigate these market volatilities and failures by regulators has led to new ideas that are not always negative.
“KuCoin Labs possess a group of experts in research who regularly analyze industry developments and hot topics to provide their solid findings, explore and support high-quality blockchain projects, and contribute to a sustainable development of the ecosystem,” Yu explained further.
The report also found that the impact of tweets and regulation had similar effects on the industry. Tweets from influential figures like Elon Musk can have significant impacts on market prices, while regulation from countries like the United States and China can impact investor sentiment. A policy from Beijing could dramatically impact the price as much as a whimsical Musk tweet.
KuCoin Labs has an extensive industry portfolio, and thus, understanding industry trends and activity is vital for continued success. The report was not released publicly, but users can email KuCoin at [email protected] for the entire report.
What is KuCoin Labs
KuCoin Labs was founded in May 2018 as an investment and research company. KuCoin Labs diversifies and intensifies investments into projects early to help more builders achieve sustainable growth and success in the decentralized world. KuCoin Labs possesses a portfolio of over 50 projects including MultiVAC, CertiK, OneLedger, and Ankr. The KuCoin platform has around 8 million regular users in over 207 countries. It has a daily trading volume of over $1.5 Billion USD and is currently a top-five crypto exchange.
Where to find KuCoin Labs:
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