Popular cryptocurrency analyst and trader Kevin Svenson thinks that during the next bull run, an exchange will rise more than 50 places in the altcoin’s market cap rankings.
In a new tweet, Svenson said that KuCoin Token (KCS) will follow in the footsteps of Binance Coin (BNB) and Cronos (CRO), rising from the 80th largest cryptocurrency by market capitalization rank. He said he would be 25.
“KuCoin Token was one of the strongest assets during the entire downtrend since November 2021. It rose against BTC and held its value… so just imagine what KCS would do in a bull.”
KuCoin is an exchange-specific token built on the Ethereum (ETH) blockchain. KCS, KuCoin’s native token, is used to encourage participation in the network by reducing transaction fees and rewarding holders. KuCoin is trading at $21.56 at the time of writing and is up about 19% over the past seven days. Going forward, Svenson thinks it will be the best performing altcoin among all crypto assets currently in the top 100 market capitalization rankings.
Earlier this month, the analyst said that there will be a price increase in Layer-2 protocol Loopring (LRC).
LRC’s price hike coincided with GameStop’s announcement that the beta version of its new NFT platform built on the blockchain is now live for early registrations and fund deposits.
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