OKEx is leading the offer cryptocurrency futures trading options by a huge margin
Futures trading is one of the popular trading activities in traditional financial markets, and it is no different when it comes to the cryptocurrency world. Currently, there are many platforms offering futures cryptocurrency trading options, and one of their most profitable leaders is OKEx, which has won the tag of the world’s largest futures cryptocurrency exchange.
OKEx continues to dominate the crypto futures derivatives market in volume
Bitcoin’s performance since the beginning of 2020 has been very positive. With the first week coming to an end, the price of the world’s most tremendous crypto asset is hovering near $ 7,500. Besides, the Bitcoin futures derivatives market has witnessed a significant development in the past week. Specifically, BitMEX, the oldest king in Bitcoin perpetual and Futures market, has slipped to second place. And the one who took the top spot is OKEx, a platform that is growing actively recently.
As seen in the chart below, BTC Futures’ trading volume for OKEx has reached over 2 billion, as of January 6, 2020. However, BitMEX has recorded a trading volume of $ 1.76 billion down.
The trend of OKEx’s increased transaction volume for Bitcoin Futures is reversed when it comes to Open Interest. BitMEX’s open interest in Bitcoin Futures far exceeds that of OKEx.
For BitMEX, OI is at a staggering $ 1 billion, while OKEx’s OI is calculated at $ 0.76 billion. This may be simply due to the density of Futures contracts, which is higher on BitMEX when compared to OKEx.
Since the beginning of 2019, OKEx has dominated BitMEX, especially in the BTC Futures market, with a constant and higher trading volume.
OKEx even took the top spot on November 22, 2019.
?Crypto derivative market reported volume exceeds $20 billion in the wake of bitcoin price decline#bitcoin #btc $BTC #BItMEX pic.twitter.com/8seKkX52ZH
— CoinGecko (@coingecko) November 22, 2019
The most recent futures trading offered on OKEx is the USDT-Margined futures contract that went into effect earlier this month. Some of the salient features of this offer include 0.01-100x leverage, denominations below 0,0001 BTC, Tice Size 0.1, linear contracts, and visual trading experience. Crypto futures contracts on OKEx also provide a lot of flexibility for traders, thanks to the size, user base, and support for an endless list of cryptocurrencies that can be paired against each other in various combinations.
Bitcoin Futures have gained a lot of traction recently, with big players like CME and Bakkt joining the market. One of the most critical differences between CME and Bakkt is the resolution method. While CME Bitcoin Futures are paid in cash, Bakkt’s Bitcoin futures are actual paid Bitcoin.
Moreover, 2019 was better than OKEx because the OKB token is one of the best performing crypto assets among the exchange tokens. In terms of ROI, other tokens cannot compare to the 386% price increase of OKB. Followed by Huobi exchange’s HT and Binance’s BNB.
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