OKEX DIVULGES 308 PER CENT GROWTH IN 2021 TRADING VOLUMES

KUALA LUMPUR, Nov 18 (Bernama) -- Top cryptocurrency exchange and DeFi ecosystem, OKEx has reported 308 per cent growth in total trading volumes over the past year.

According to a statement, OKEx's total trading volume of all listed assets grew from US$1.8 trillion in October 2020 to US$7.4 trillion as of October this year. (US$1 = RM4.175)

Breaking down this massive growth, perpetual swap products on OKEx saw the highest increase, with trading volume growing by 455 per cent year-over-year. Cryptocurrency spot and futures products also saw impressive growth in terms of trading volumes — up 365 per cent and 209 per cent, respectively.

In October this year, BTC, DOGE, SHIB, OKB, ETH and SOL were among the top-10 assets with the highest trading volumes on OKEx spot markets. Total spot trading volumes for the 10 assets combined reached a monthly high of over US$6.5 billion, which reflects increasing industry-level interest in dog-themed memecoins, as well as decentralised finance.

OKEx's notable growth in trading volumes is accompanied by the firm's market-leading push into the DeFi, GameFi and nonfungible token (NFT) spaces.

This fall, OKEx launched a DeFi mode on both its website and mobile app, featuring a bespoke Web 3.0 wallet, as well as an NFT Marketplace and play-to-earn crypto gaming centre. The platform also recently launched an advanced trading feature, portfolio margin, specifically designed to improve capital efficiency for professional and institutional traders.

“We are extremely pleased to witness this positive growth trajectory over the past year,” said OKEx CEO Jay Hao, adding that this would not have been possible without the support from valued customers — the trusted OKEx family.

“To cater to institutional and professional traders, a CME-like portfolio margin system was introduced as part of our efforts to build the world’s most powerful trading platform for crypto traders. As we celebrate our fourth anniversary, we look forward to expanding our offerings and further growing our family in the global markets.”

-- BERNAMA