OKEx CEO Jay Hao: The Crash of a Token Is Not the End of DeFi, but a Lesson in Overheated Market Sentiment
OKEx Ranked World’s Largest Crypto Derivatives Exchange, According to CoinDesk Research
Malta, Sept. 3, 2020 — OKEx (www.okex.com), a leading cryptocurrency spot and derivatives exchange, was recognized as the world's largest, according to CoinDesk Research. Citing data from CoinGecko, OKEx was ranked as the number-one crypto derivatives exchange with outstanding contracts valued at $1.26 billion. Furthermore, according to data from skew, OKEx beat out all competitors in terms of BTC futures aggregated daily volumes during most of the month of August, registering a high of $5.5 billion on Aug. 27.
"We are delighted that our efforts in continuously improving the trading experience and flexibility of products we offer are paying off," said OKEx CEO Jay Hao. "It is extremely gratifying to see OKEx taking the top place among all crypto derivatives exchanges, and we will do our very best to ensure that we retain that title."
OKEx has long been leading the field not only in terms of BTC futures but also in its ample offering of derivatives products beyond traditional futures. At the beginning of last month, for example, skew data confirmed that OKEx had one of the most competitive BTC perpetual swap funding rates in the industry, giving traders an additional reason to make OKEx their platform of choice, particularly for going long on BTC in a bull market. Of the nine major cryptocurrency derivatives exchanges, OKEx offered the second-lowest swaps funding rates — at an average of 0.0052% in August.
Traders on OKEx can also experiment with trading futures on a wider range of cryptocurrencies than other leading competitors with its perpetual swap product including high-growth popular DeFi tokens such as Chainlink (LINK) and yearn.finance (YFI), and up-and-coming projects like Polkadot (DOT) and Algorand (ALGO).
OKEx is also one of a handful of exchanges to compete in the growing cryptocurrency options space, currently offering crypto options trading for Bitcoin (BTC), Ether (ETH), and EOS, allowing traders to buy and sell call and put options on very flexible terms. OKEx offers contract expirations that are daily, two-day, weekly, bi-weekly, monthly, quarterly and bi-quarterly, allowing traders to execute diverse trading strategies.
“Unlike some of our competitors, OKEx's main focus is on providing the most diverse suite of products for our global user base. Cryptocurrency trading is still very fragmented with traders often having to open accounts across several exchanges. OKEx is fast-becoming a one-stop trading platform that accommodates users from entry-level to institutions and professional traders. We're very proud of the growing number of innovative products that we have listed in the fast-growing crypto derivatives market and the spot market as well," said Jay Hao.
"Not only do we offer a wider variety of derivatives products beyond traditional BTC futures, but we also provide users with different amounts of funds and allow them to experiment with trading strategies to continually improve the trading experience for all our users."
According to a report by The Block, the Bitcoin derivatives market is growing faster than the spot market, with the ratio between spot and futures volumes increasing to over 1:5 from less than 1:2.3 a year ago. The rapid increase of this ratio suggests the growing maturity of the space and also points to greater institutionalization. With its sophisticated offering that is increasingly more reflective of traditional futures markets, OKEx is well-placed to accommodate this rising demand.
A world-leading cryptocurrency spot and derivatives exchange, OKEx offers the most diverse marketplace 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 flexibility in formulating their strategies to maximize gains and mitigate risks.
Email: [email protected]
Telegram group (English): https://t.me/OKExOfficial_English
Telegram group (Russian): https://t.me/okexofficial_ru
Disclaimer: This material should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. Trading digital assets involve significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.