Academy Press Room Article

OKEx Overtakes BitMEX to Top the BTC Futures Market by Open Interest

2020.04.27

OKEx (www.okex.com), the world’s largest cryptocurrency spot and derivatives exchange, topped the BTC futures market by open interest according to the skew data. Apart from trading volume, this is another key indicator where OKEx exceeded BitMEX. Open interest refers to the total number of derivative contracts that have not been settled on an exchange, which directly reflects the trading depth of an exchange. The higher the open interest volume an exchange has, the more trust the crypto community have on an exchange.

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source: Skew on 26 Apr 2020

Besides, based on the latest data from Chain.info, a third-party blockchain transaction-focused data service platform, OKEx is one of the largest exchanges by on-chain BTC balance, followed closely by Binance.

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source: chain.info

“We are grateful for the recognition from our global users. We will work harder to get more users to build a consensus in the sector of crypto market and the recognition of OKEx’s products, technology and services,” said Jay Hao, CEO of OKEx. “We will further improve our products and technologies, including OKChain, derivatives, etc. in the future, to achieve mass adoption of crypto and blockchain technology and bring our users better trading experience.”

From the launch of the OKChain testnet and the burning of 700M unissued OKB, the global utility token adopted by OKEx, to the stable performance in the market crash on March 13, OKEx has showed its technical strength and has been leading the trend of blockchain industry.

In addition, OKChain, the own commercial public chain developed by OKEx has become open-source on April 16. Along with that, OKChain pioneered the concept of “Commercial Chains Alliance”, aiming to promote the ecological implementation of complementary applications. The first 32 partners in the OKChain ecosystem cover 5 major directions, including public chain, wallet, explorer, POS mining pool and securities.

Adopting the “OpenDEX” concept, OKChain will provide its nodes with a high degree of autonomy, which enables node runners to develop DEX and dApp or decide which cryptocurrencies and trading pairs to list in a permissionless way.

End


About OKEx

The world’s largest and most diverse cryptocurrency marketplace, OKEx is where global crypto traders, miners, and institutional investors come to manage crypto assets, enhance investment opportunities, and hedge risks. We provide spot and derivatives trading, including futures, perpetual swap, and options, of major cryptocurrencies, offering investors great flexibility in formulating their strategies to maximize gains and mitigate risks.

Media contact:
Vivien Choi
Email: [email protected]
Telegram: @vivienchoi

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