OKEx reports 223 per cent trading volume growth in first two months
OKEx, a Malta-based digital asset exchange, recorded 223 per cent growth in monthly trading volume in the two months following its launch.
Perpetual Swap is the latest product in OKEx’s derivatives lineup, with nine types of contracts available for trading at the moment. BTC, ETH, and EOS perpetual swaps have a contract face value of USD100-equivalent and feature a leverage level of 1-100x. While for BCH, BSV, ETC, LTC, and XRP perpetual swaps, the contract face value is USD10-equivalent and they feature a leverage level of 1-40x. The TRX perpetual swap has a contract face value of USD10 with a leverage level of 1-20x.
To safeguard users from unnecessary liquidation triggered by abnormal market price, OKEx introduces the Margin System with Tiered Maintenance Margin Ratio that allows users to adjust their leverage level according to their risk appetite and market condition. The Mark Price Mechanism is also launched to unweave the temporary price spikes based on the Spot Index Price and the Moving Average of Basis.
“Despite the fact that the spot market is sluggish due to the recent market downturn, we still see a more than 200 per cent growth in our crypto-derivatives volume. It's a sign of the crypto industry getting mature when you benchmark it with the traditional finance ecosystem. The trading volume in derivatives should be much higher than Spot market. And from our data, we see the growth in derivatives space is natural and organic. We see that a great part of the contribution is from reputable institutions in the traditional trading field.” says Lennix Lai, Financial Market Director of OKEx. “It is flattering to OKEx that professional traders around the globe endorsed our endeavor to product innovative, infrastructure building, and market fairness maintenance. And we would continue to work on that in 2019 with the vision of building a comprehensive financial ecosystem with the blockchain technology.”