Kin Soars Past 3 Million Monthly Active Spenders
Just one week after passing 2MM MAS, the Kin Ecosystem flies past 3MM
The Kin Ecosystem has gone parabolic with over 3 million users that have spent Kin within consumer apps in the last month. This comes after surpassing 2 million for the first time just last week, a large increase from 1.3MM at the beginning of the month.
Kin continues to grow its lead as the most used cryptocurrency by mainstream consumers, with over 23.1 million users having earned and over 8.7 million having spent Kin since inception. Note that this does not include speculative trading, only earning and spending in the 50+ consumer apps in the Kin Ecosystem.
Here are some quick facts about Kin:
- Kin is live in over 50 consumer apps, with over 3MM monthly active spenders.
- When excluding speculative trading and gambling, Kin has the highest transaction count of any cryptocurrency ¹ ² ³.
- Apps are already monetizing with Kin by generating revenue from the Kin Rewards Engine based on their user engagement and the value they contribute to the ecosystem ⁴ ⁵.
About Kin
Kin is money for the digital world. It is an open micro-transaction platform used by millions of consumers across more than 50 applications and services, making Kin the most used cryptocurrency by mainstream consumers. Kin can be sent anywhere in the world, instantly, and for free. The currency enters circulation via the Kin Rewards Engine, or “KRE”, which enables apps to monetize by getting their users to use Kin. Today people are using Kin to purchase a variety of digital goods and services and to support content creators. This offers developers a new business model that rewards the adoption of engaging experiences and free exchange of value between users, not harvesting their data and attention. That means users and developers are finally re-aligned, around a new economy in which those who generate value online are the focus, not big-data monopolies.
You can follow along with the growth of spending and earning in the Kin Ecosystem at https://www.kin.org/stats.
References —
¹ Chainalysis data shows use of cryptocurrency; May 2019:
“Transactions related to exchanges still accounted for 89.7% of activity[…]”; “This suggests[…]top use case remains speculative, and mainstream use[…]for everyday purchases is not yet a reality.”
² CoinMetrics shows Kin transaction counts compared to leading cryptocurrencies; June 2019:
“Separating out Kin payments from account creations gives a somewhat clearer picture. The below chart shows different average daily transaction counts over the last three months compared to Kin’s payment count[…]Kin is near the top of the pack, trailing only EOS. ”
³ Dappradar shows top apps for other leading blockchains and their uses cases; March 2020:
⁴ Basic case study of Nearby; August 2019:
⁵ Weekly KRE Payment Stats:
Definitions —
Monthly Active Spender, or “MAS”:
A monthly active spender is defined as a unique account that has initiated a spend transaction within an app in the Kin Ecosystem in the last 30 days.
The “MAS” metric was sought in pursuit of better data, as the standard metrics for cryptocurrency analytics, such as blockchain operations, total active accounts, and speculative transaction data, do not accurately reflect consumptive utility by mainstream consumers. By removing account creations, speculative activity, and earning from the equation, cleaner data was acquired.
