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RE: What Just Happened to KuCoins Market Cap?
That was my thought as well, but I could not find anything that says that happened. Also if that is the case that does not speak well for KCS, because you would expect the price of KCS to jump though the roof if they lower the supply that much. Right about the same time KCS went up other exchange related coins BNB and BIX went up as well . I know that one You Tuber theorized that the exchange coins going up was a sign that "big money" was about to come in to the space.
Frankly I wonder if this is just a glitch on Coinmarketcap regarding the supply. Or maybe it is the weekend and investors have not seen this yet. If nothing bad has happened at KCS and they have burned that many coins, KCS is a steal at this price. IMHO
Yes, keep in mind that the markets are irrational, if they really burned that many coins that would mean that the payout per KCS is way higher compared to its price now if they did not lower the payouts, so you could say it’s worth even increased. Huobi went down a bit as well.