Global content platform "KOK PLAY" announced on the 3rd that its cryptocurrency "KOK Token" has been confirmed for margin transactions on global exchange, Kucoin.
The KOK token posted an average daily trading volume of 2.4 trillion won until recently after it was listed on the Kucoin USDT market in June of last year.
Kucoin recently started supporting KOK/USDT margin trading, which refers to a method in which investors can use the exchange's funds to “leverage up” their trades beyond the existing capital they have to work with. Domestic exchanges do not offer virtual asset-based margin trading.
Kucoin is a global major exchange used by more than 10 million users in 207 countries around the world, supporting more than 640 virtual asset transactions and more than 1,000 virtual asset projects.
According to a KOK PLAY official, "Only about 15 percent of projects are available for margin trading at Kucoin. We expect that the KOK Token will gain an upper hand in market share compared to other projects through this new feature."
Additionally, the company said, "It is meaningful in that KOK tokens have lept forward as a customized product for investors, which will increase investors' additional profit generating opportunities other than spot transactions, and is expected to expand the KOK token ecosystem."
KOK token's margin trade signifies exclusivity and expansion similar to that of more mainstream cryptocurrencies such as Bitcoin and Ethereum.
Source: Green Daily (http://www.greendaily.co.kr)