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OKEx shared insights on trading, regulation, DeFi and more during recent Markets Pro AMA


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Based in 2017, OKEx is a centralized cryptocurrency trade primarily based in Seychelles. According to CoinGecko, OKEx is the world’s third-largest cryptocurrency brokerage, with practically $12 billion in buying and selling quantity inside the previous 24 hours. The trade lists 312 cash and 518 cryptocurrency buying and selling pairs.

It is typically troublesome for brand spanking new cryptocurrency fans to navigate the advanced world of buying and selling and finance. OKEx seeks to deliver such refined buying and selling strategies to on a regular basis customers’ disposal by offering a easy interface. Throughout an unique ask me something (AMA) session with Cointelegraph Markets Pro Users, OKEx workers mentioned buying and selling instruments, monetary regulation, the OKExChain (OEC) blockchain, meme cash, and DeFi choices on the OKEx platform.

Cointelegraph Markets Professional Person: How can somebody profit from bots / API [Application Programming Interface] buying and selling with no coding expertise? Does OKEx have any partnerships absolutely built-in?

OKEx Workers: TLDR [Too Long, Didn’t Read], you do NOT have to have any coding expertise to automate trades with the buying and selling bot on OKEx. We make it very easy so that you can set the buying and selling bot up — it is built-in into the OKEx buying and selling dashboard. You may mainly go absolutely automated by selecting the AI choice and simply setting the order quantity in Tether (USDT) or you may manually set your parameters, together with the higher and cheaper price limits, for the asset you wish to commerce.

So the bot is actually an auto-trading device with pre-set parameters. Buying and selling bots can maximize revenue potential, particularly in occasions of a range-traded market. So with a buying and selling bot, just like the one now we have on OKEx, will probably be extra worthwhile if the market you select goes up (promoting), then down (shopping for), then up, down, and many others., quite than simply up, up, up. The buying and selling bot on OKEx is offered for all spot buying and selling pairs, which implies you should purchase and promote Ether (ETH), out and in of Bitcoin (BTC), for instance. A buying and selling bot video tutorial is coming quickly! Subsequent week, doubtless, however this is the written tutorial. And this is what it looks like within the consumer interface (UI). You needn’t [have] API/coding expertise in an effort to execute such a strong and automatic technique. 

OKEx buying and selling interface | Supply: OKEx

Buying and selling bot revenue and loss | Supply: OKEx

CT Markets Professional Person: How do you assume the India crypto ban will influence the crypto house?

OKEx workers: I feel, for India, the regulator want to have a extra complete framework in regulating crypto as an alternative of banning it. Historical past advised us when crypto is allowed and controlled — it might even be stronger. The India ban is unlikely to have any main influence in the marketplace. Crypto has grow to be fairly resilient to such information developments over the previous couple of years. 

CT Markets Professional Person: Cryptocurrencies have a reasonably excessive beta [volatility]. Do you guys use the identical monetary mannequin (i.e., Black Scholes) as shares to cost crypto derivatives?

OKEx workers: Our choice market makes use of the Black Scholes mannequin to compute mark worth (truthful worth of the precise contract). And for threat administration, we’re utilizing a SPAN-like situation stress-tester (like the Chicago Mercantile Exchange) to calculate the utmost lack of the consumer’s portfolio.

CT Markets Professional Person: I just lately heard [of] some developments with the OKExChain. What is going on on with that?

OKEx workers: Sure, the rumors are true! [The trading chain] It is referred to as OEC. The mainnet was launched this summer season. Somewhat bit about OEC: it is an EVM [Ethereum Virtual Machine] appropriate public blockchain that makes use of Cosmos / Tendermint structure. OKEx has been quietly growing OEC for a number of years to make it as sturdy as potential and to handle the blockchain trilemma. Versus being an Ethereum clone, it is being constructed from the bottom up. For extra in-depth data on OEC, you may read this, but it surely’s not mild studying.

CT Markets Professional Person: What’s the OKEx DeFi Hub? What services are at the moment provided and the very best staking alternatives?

OKEx workers:  DeFi is a brand new mode on OKEx. You may toggle between the “Trade” and “DeFi” modes on okex.com or within the app. It is mainly like a bridge between the worlds of CeFi and DeFi — OKEx brings DeFi to you in a single cohesive interface. To start with, you do not have to have an OKEx account to make use of the DeFi mode. You join your Net 3.0 pockets, you may monitor wallets and see all of your DeFi belongings in a single place. In the mean time, the DeFi mode (which launched this fall) at the moment consists of our very personal NFT market, GameFi middle, and dashboard, the place you may view all your decentralized belongings, together with your NFTs. However there’s extra coming quickly! OKEx offers a bespoke Net 3.0 pockets that you could conveniently use by way of the browser extension (Chrome or Firefox) or immediately within the OKEx app. At present, staking, financial savings and yield-farming affords are solely available on OKEx Earn by way of our centralized platform. That is all I can say for now. 

CT Markets Professional Person: I’d respect your views on multi-billion greenback meme cash and whether or not they function a viable supply of influx to crypto, or are they ticking time bombs able to destabilize the market if and after they pop; which means, is there actually room in a rational crypto marketplace for these cash?

OKEx workers: Good query! Sure, meme cash are positively appearing as gateways for non-native crypto traders/merchants as a result of their accessibility. There’s a particular chance of those cash sliding sharply sooner or later, however I would not go as far as to say they will destabilize the market at this level. Their speculative nature is on the market for all to know, and these cash do not take themselves too severely, which implies traders are considerably conscious of the dangers. Furthermore, the highest meme cash, resembling DOGE and SHIB, have really cemented themselves moderately effectively by now. We really did an episode on meme cash on our podcast. Right here is a hyperlink to that for the complete dialogue.

CT Markets Professional Person: How does OKEx combine with the play-to-earn video games? 

OKEx workers: In the mean time, the GameFi middle on okex.com is a play-to-earn recreation aggregator. So you will discover all the newest and hottest blockchain video games there. You may simply filter by blockchain community and we function video games on over 20 totally different networks, together with video games solely constructed on OEC (the general public blockchain developed by OKEx, which I defined above). Every recreation listed on OKEx GameFi has its personal web page that tells you all concerning the recreation, the value historical past of the in-game belongings and different key data. We additionally embody the hyperlink on to the sport’s website so you may go play it — most play-to-earn video games are performed in-browser. This is a enjoyable spacey recreation built on OEC.

CT Markets Professional Person: How would you comparecontrast Okex with, say, Coinbase? What makes OKEX stand out in a world with so many trade selections?

OKEx workers: OKEx is a sophisticated buying and selling platform that provides derivatives (choices, futures, perp swaps), buying and selling bots, margin buying and selling and an enormous variety of tokens. Plus, we just lately launched a DeFi mode with decentralized choices, resembling NFTs and crypto video games, and a helpful dashboard to handle all of your DeFi belongings. Our line of providers, starting from extremely liquid buying and selling markets to staking/farming choices, are aimed toward catering to merchants and traders of all ranges.

Apart from the DeFi mode, the buying and selling bot talked about earlier and our new portfolio margin mode are a few examples of how we proceed to push ahead with providers and instruments that facilitate [the success of] crypto market contributors. OKEx is the primary platform to supply true portfolio margin with multi-currency collateral threat offset — it is a big plus for skilled merchants buying and selling giant portfolios, particularly choices/different crypto derivatives as a result of it lets them closely cut back margin necessities.

CT Markets Professional Person: The place do you see the overall crypto market cap going in a single yr, 5 years? What market phase is undervalued proper now? Id? Meta? Layer one?

It is exhausting to say any precise numbers, but it surely looks as if the charts go up and to the appropriate! Nonetheless, market contributors will do effectively to maintain tabs on financial coverage adjustments within the subsequent yr. Personally, I feel that Net 3.0/digital id/metaverse initiatives are undervalued in comparison with the place they (or no less than some) shall be in a number of years. We talked loads about this with some nice company on final week’s episode of our podcast.

Disclaimer: The next market predictions have been made earlier than of the onset of reports of a novel coronavirus variant negatively impacted capital markets worldwide on Nov. 26. They might not be relevant within the present setting and shouldn’t be thought to be funding recommendation.

CT Markets Professional Person: Do you guys assume that [Bitcoin price] $69 thousand was the highest? Is there nonetheless an opportunity for one more alt season within the subsequent couple of months?

OKEx workers: $69 thousand is the highest or not is a matter of time frames, for my part. On-chain metrics, resembling trade flows and balances, point out that the final all-time excessive ($69 thousand) may be very unlikely to be the highest for this cycle. That being stated, BTC can also be not prone to transfer straight up, even when most metrics are bullish. That is due to the best way the market has matured and the growing range of market contributors as effectively. Matured within the sense that there’s a distinction in market composition from 2013 to 2017 and 2021. Much more “severe” traders and institutional involvement and futures from CME, as an illustration, and the exchange-traded funds (ETFs). 

The larger a market will get, the slower it strikes and the much less risky it turns into. Nonetheless, the subsequent few months, particularly Q1 2022, needs to be attention-grabbing to look at as we might even see this bullish cycle lengthen into the subsequent yr as an alternative of ending in December. If that occurs, we will certainly see one other alt season.

I feel we’re already beginning to see one thing of a meme season/metaverse season in the meanwhile. Clearly the information from Fb going all-in with the metaverse spurred on that aspect of issues, however the decentralized metaverse is certainly seeing new capital influx. In my opinion, the market cycles by sectors; as an illustration, we’re at the moment seeing metaverse trending however may see different lagging classes begin catching up so long as BTC stays bullish/would not slide too sharply. Usually, if the market appears robust, every thing goes to rise eventually. We will see there’s a constant influx from institutional cash. Fairness stability on institutional circulate is steadily growing. Arduous to inform almost about shopping for Ethereum, although, since they commerce every thing and all have various kinds of methods.

The BTC trade web place change metric, as an illustration, remains to be not exhibiting indicators of the present worth, or the final ATH [All Time High], being a prime just like the one we noticed in Might.

Bitcoin web buying and selling place change | Supply: OKEx