OKEx has just hit a record in trading in crypto derivatives and pushed BitMEX off the top.
Turn things around
OKEx ended last year with a flood of criticism from disgruntled traders. Malta-based stock exchange based in Malta was forced to market manipulation when forced to do so Early settlement of BCH futures, without warning right in front of the fork, but it was also slammed for Counterfeiting of trade volume,
The leading digital asset exchange that tells traders that "it's okay to dare," has left all this behind – and the tireless efforts to beat BitMEX in their own game seem to pay off.
According to a press release, the company is currently recording a record breaking 24-hour trading volume for crypto derivatives. OKEx built up more trades than BitMEX or other futures exchanges. Thus, "the industry was the world leader," while $ 2.4 billion was traded in one day.
Just in case you are wondering where the numbers come from, the company reiterates that this is "according to the official data".
Who trades on OKEx?
At some point, it looked like OKEx was seeing a mass withdrawal of traders from its platform. Now it looks like things have changed. The introduction of the latest eternal swap The product appears to have been a hit with futures traders, 56 percent of whom hold a long position with BTC.
This reflects the general optimism of the market that the worst bearish conditions are over. Plant manager Andy Cheung enthused:
It is encouraging that traders are positive and open to the future of the cryptocurrency. This really strengthens our faith to go further.
He also assured retailers that the platform will continue to innovate and work to create a "dealer-friendlier" environment.
OKEx's perpetual swap totaled $ 53 billion. There are currently nine different contract types available for trading, including Bitcoin (BTC), Ethereum (ETH) and EOS with 100-fold leverage, as well as Bitcoin Cash (BCH), Ethereum Classic (ETC), Bitcoin SV (BSV) and Litecoin (LTC )) and XRP with 40-fold lever.
Do you think that OKEx has really outperformed BitMEX? Tell us your opinion in the comments below!
Images courtesy of Shutterstock.
OKEx's contribution will trade more than $ 2.4 billion in crypto-derivatives within 24 hours. Top BitMEX first appeared on Bitcoinist.com.
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Post source: OKEx trades over $ 2.4 billion in 24-hour crypto derivatives and outperforms BitMEX
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