KuCoin Token (KCS) is the native token behind the cryptocurrency exchange. It is a utility token that has several use cases in the entire KuCoin ecosystem. For example, it can be used for paying trading fees on the KuCoin Exchange and also provides a 20% discount on those trading fees.
KCS is down 18% from the highs above $21 seen last month, but the cryptocurrency is still performing strongly relative to the entire crypto market. The coin dipped from above $18 at the start of May to plummet as low as 49.55 during the capitulation seen earlier in the month.
KuCoin Token (KCS) was launched in 2017 as a utility token that allows traders to derive value from the KuCoin exchange. Five years down the line, the digital currency has become an attractive investment vehicle.