KuCoin Shares (KCS) Boom, Sceptics Point to Inflated Volumes

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KuCoin Shares (KCS) is an anomaly right now, being one of the few stablecoins to rally in the past day as the rest of the market remained stagnant. KCS traded at $1.62, spiking slightly in the past few days. KCS has remained relatively stable in the past months, under 20,000 Satoshi and below $2, after crashing from its all-time peak near $20. But even after a year of bearish downtrends and stagnation, KCS suddenly marked record volumes. KCS trading started to pick up in May, and has now reached more than $51 million. The purpose of KCS is to serve as a native exchange coin, to form trading pairs and distribute some of the earnings of KuCoin. One of the reasons for the price spike of KCS is a recently announced coin locking and buyback program. The program allows users to lock their KCS, as a form of staking, and…

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