KuCoin (KCS) vs Huobi (HT): A Comparison and Review

KuCoin (KCS) Overview

KuCoin is an international cryptocurrency exchange based in Seychelles. It supports the trading of 250 digital assets and offers relatively low trading fees. One unique feature of KuCoin is that it shares 50% of its overall trading fee revenue with users holding its exchange-based token, KCS. The exchange was launched in 2013 with the goal of becoming one of the top 10 worldwide hottest exchange platforms by 2019. KuCoin aims to provide safe and convenient digital asset transaction and exchange services, integrating premium assets worldwide.

Huobi (HT) Overview

Huobi is the third-largest cryptocurrency exchange globally and recently launched its own currency, Huobi Token (HT). HT rewards exchange users with lowered transaction fees and holds its own value in tradable pairs against popular currencies. Similar to other loyalty-building tokens like Binance Coin (BNB), HT aims to add value and loyalty to Huobi's millions of Asian users. Huobi faced challenges due to tightening regulations in China, which led to a significant decrease in trading volume. The launch of HT is part of Huobi's strategy to recover its user base and regain its position as a leading exchange.

Comparison and Review

Market Cap and Rank

KuCoin (KCS) currently holds a market cap rank of 80, while Huobi (HT) ranks at 96. This indicates that KuCoin has a higher market cap and is considered more established in the cryptocurrency market.

Price Change Percentage

Over the past 30 days, KuCoin (KCS) has experienced a price change percentage of 80%, indicating a significant increase in value within this period. On the other hand, Huobi (HT) has seen a decrease of 13.58699% in its price over the same timeframe.

Token Distribution and Usage

KuCoin (KCS) distributes 50% of its overall trading fee revenue to users holding the token, creating an incentive to hold and trade KCS. This distribution mechanism can potentially increase the value of KCS and attract investors. On the other hand, Huobi (HT) offers lowered transaction fees as a reward for user loyalty. HT can be traded against popular currencies, adding value to the token and providing additional benefits for Huobi users.

Competition and Outlook

Both KuCoin and Huobi face competition from other exchanges that have issued their own tokens. KuCoin competes with exchanges like Binance (BNB) and OKEx, while Huobi faces competition from Binance (BNB), Bibox (BIX), KuCoin (KCS), and COSS (COSS). Despite the competition, both KuCoin and Huobi have established user bases and have strategies in place to grow and retain their communities. KuCoin aims to be one of the top 10 exchange platforms globally, while Huobi is focused on recovering its user base and regaining its position as a leading exchange.