CRYPTO NEWS

OKEx, the global cryptocurrency derivatives, and spot trading platform is inches away from occupying a top spot in the crypto industry. It has been maintaining a close second position in terms of trading volumes for three straight months. The latest CryptoCompare Exchange Review states that the crypto derivatives volumes during the month of May 2020 soared to an all-time high of $602 billion, after registering a growth of 32%. Even the spot trading volumes registered an uptick of just 5% to $1.27 trillion during the same period. According to the report, trade volumes on OKEx surged the highest among the top-tier exchanges in May as compared to April. The percentage change over a period of one month on OKEx was 25.7% at $52.1 billion as compared to Binance at +18.2% and Coinbase at +22.4% The trade volumes on Binance and Coinbase during May 2020 stood at $57.2 billion and $11.2 billion, respectively.   The month on month crypto derivatives volumes witnessed a huge surge in the month of May 2020, with institutional player CME gaining 59% to $7.2 billion. When it comes to derivatives exchanges, Huobi continued to lead the race with monthly volumes of $176 billion, trailed by OKEx at $152 billion with a 33% month-on-month increase from April 2020 which puts it at the second spot. It is not the first time for OKEx to be featured on CryptoCompare’s Exchange review. Known for a diverse range of crypto trading products and a strong global userbase, OKEx is one of the leading players in the crypto sector. The platform is known to launch new features and updates at regular intervals to meet the diverse trading needs of its community. Apart from being a world-class derivative and spot trading platform, OKEx is strengthening its options trading portfolio by launching new instruments. Its first offering, the BTC/USD options has registered an average daily transaction volume of $10 million. Recently, OKEx also released ETH/USD options, which will soon be followed by EOS/USD options on June 18. At this pace, OKEx may end up taking the top spot for being one of the best options trading platforms as well.   Image by 272447 from Pixabay

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