In any financial market the importance of contract markets is something that can’t be underestimated. Contract markets mean futures, options, and perpetual swap trading markets. There’s no denial in the fact that these contracts are bought and sold much more than the actual assets backing them. So when various cryptocurrency exchanges came out with their contract markets, we knew that at least some of them are going to create history. And it looks like the history is already in the making, as contract market of OKEx cryptocurrency exchange has hit $2.4 billion in daily trading volume, which is highest in the industry.
That’s right. Malta-based leading crypto exchange OKEx has officially confirmed that it is experiencing almost two and a half billion dollars in daily-trading volume on its contract market. Since launch it has generated a total of $53 billion in trading volume. That’s a big success for the company as its contract market was launched only three months ago. Achieving 53 billion dollars in daily trading volume in less than 100 days is nothing short of a big achievement. Commenting on the development Mr. Andy Cheung, head of operations at OKEx, said:
“I am thrilled to see the number grow so significantly, bringing OK Exchange to the top among our peers and marking a new milestone for the business. It is encouraging that traders are positive and open-minded to the future of cryptocurrency. This really strengthens our faith going forwards. To maintain our leading position, we will ensure a trader-friendly environment for users to enjoy trading digital assets on OKEx.”
The exchange also revealed that among its traders 56% have gone long on Bitcoin, which reflects the optimism of market towards the future of cryptocurrencies.
OKEx currently offers 400 token and futures trading pairs on its various platforms. This allows its users to optimize their trading strategies in a better way, thus making OKEx a formidable force in the crypto space. The customers of exchange are spread in more than 200 countries, which makes it a truly global cryptocurrency exchange. Recently company also added XRP and Bitcoin Cash to its platform, which will further increase the number of pairs available on it. It also launched a messenger for its OTC desk customers.