OKEx shared insights on trading, regulation, DeFi, etc. in the recent Markets Pro AMA
Founded in 2017, OKEx is a centralized cryptocurrency exchange located in Seychelles. according to For CoinGecko, OKEx is the third largest cryptocurrency brokerage company in the world, with a transaction volume of nearly US$12 billion in the past 24 hours. The exchange lists 312 coins and 518 cryptocurrency trading pairs.
It is often difficult for new cryptocurrency enthusiasts to navigate the complex trading and financial world. OKEx aims to bring this complex trading method to everyday users by providing a simple interface.During the Ask Me Anything Exclusive (AMA) meeting Cointelegraph Markets Pro users, OKEx staff discussed the trading tools, financial supervision, OKExChain (OEC) blockchain, meme coins and DeFi products on the OKEx platform.
Cointelegraph Markets Pro users: How someone can benefit from robots/APIs [Application Programming Interface] Trading without coding experience? Does OKEx have a fully integrated partnership?
OKEx employees: TLDR [Too Long, Didn’t Read], You can use trading robots to automatically trade on OKEx without any coding experience. We make it easy for you to set up a trading robot-it has been integrated into the OKEx trading dashboard. You can basically achieve complete automation by selecting the AI ??option and setting the order amount in Tether (USDT) Or you can manually set the parameters for the asset to be traded, including the upper and lower price limits.
So the robot is essentially an automatic trading tool with preset parameters. Trading robots can maximize profit potential, especially in the period of interval trading markets. Therefore, for trading robots, just like our trading robots on OKEx, if the market you choose rises (sell), then falls (buy), then rises, falls, etc., instead of just rising, rising, it will More profitable and upward. The trading robot on OKEx is applicable to all spot trading pairs, which means you can buy and sell Ether (Ethereum), in and out of Bitcoin (Bitcoin), E.g. Trading robot video tutorials are coming soon! Next week, maybe, but this is a written tutorial.This is it It looks like Just like in the user interface (UI).You do not need [have] API/coding experience in order to execute such a powerful automation strategy.
OKEx trading interface | Source: OKEx
Trading robot profit and loss | Source: OKEx
CT Markets Pro users: How do you think India’s encryption ban will affect the encryption sector?
OKEx employees: I think that for India, regulators want a more comprehensive framework to regulate cryptocurrency, rather than prohibiting it. History tells us when to allow and regulate cryptocurrency-it can be even stronger. The Indian ban is unlikely to have any major impact on the market. In the past few years, cryptocurrencies have been very resilient to such news developments.
CT Markets Pro users: Cryptocurrency has a high beta value [volatility]. Do you use the same financial model as stocks (ie Black Scholes) to price crypto derivatives?
OKEx employees: Our options market uses the Black Scholes model to calculate the marked price (the fair value of a specific contract). For risk management, we use a SPAN-like situational stress tester (Like the Chicago Mercantile Exchange) To calculate the maximum loss of the client’s investment portfolio.
CT Markets Pro users: I heard recently [of] Some developments of OKExChain. How is this going?
OKEx employees: Yes, the rumors are true! [The trading chain] It is called OEC. The mainnet was launched this summer. About OEC: It is an EVM [Ethereum Virtual Machine] Compatible public blockchain using Cosmos / Tendermint architecture. OKEx has been quietly developing OEC for many years to make it as strong as possible and solve the trilemma of blockchain. Contrary to the Ethereum clone, it was built from the ground up.For more in-depth information about OEC, you can read But this is not light reading.
CT Markets Pro users: What is OKEx DeFi Center? What products and services are currently provided and the best pledge opportunities?
OKEx employees: DeFi is a new model on OKEx. You can switch between “Exchange” and “DeFi” modes in okex.com or the app. It is basically like a bridge connecting CeFi and DeFi world-OKEx brings you DeFi through a unified interface. First of all, there is no need to have an OKEx account to use the DeFi mode. You connect your Web 3.0 wallet, you can track the wallet and view all your DeFi assets in one place. Currently, DeFi mode (launched this fall) Currently It consists of our own NFT market, GameFi Center and dashboard, where you can view all your decentralized assets, including your NFT. But there will be more soon! OKEx provides a customized Web 3.0 wallet, which you can use conveniently through a browser extension (Chrome or Firefox) or directly in the OKEx application.Currently, staking, savings and yield agricultural discounts are only usable Earn income through our centralized platform on OKEx. This is what I can say now.
CT Markets Pro users: I am grateful for your opinion on the multi-billion-dollar meme coins and whether they are a viable source of cryptocurrency inflows, or whether they are ready to destabilize the market when they are popular time bombs; meaning, these coins are reasonably encrypted Is there really room in the market?
OKEx employees: good question! Yes, due to its accessibility, memecoin is definitely a gateway for non-native cryptocurrency investors/traders. These tokens are certainly likely to fall sharply in the future, but I will not say that they will destabilize the market at this time. Their speculative nature is well known, and these coins are not taken too seriously, which means that investors are aware of the risks to a certain extent. In addition, the top memetic coins, such as DOGE and SHIB, have actually consolidated their position quite well. We actually did an episode of memecoin on our podcast.here Yes Link to full discussion.
CT Markets Pro users: How does OKEx combine with playing and earning games?
OKEx employees: Currently, the games website The center on okex.com is a game aggregator that makes money by playing games. So you can find all the latest and most popular blockchain games there. You can easily filter by blockchain network. We display games on more than 20 different networks, including games built on OEC (a public blockchain developed by OKEx, which I explained above). Each game listed on OKEx GameFi has its own page that can tell you all the information about the game, the price history of in-game assets, and other key information. We also provide a direct link to the game website so that you can play it-most games that make money by playing games are played in the browser.This is a fun space game Built In OEC.
CT Markets Pro users: How would you compare/compare Okex and Coinbase? What makes OKEX stand out among so many exchange options?
OKEx employees: OKEx is an advanced trading platform that provides derivatives (options, futures, perp swaps), trading robots, margin trading and a large number of tokens. In addition, we recently launched a DeFi model, providing decentralized products, such as NFT and encrypted games, and a convenient dashboard to manage all your DeFi assets. Our service lines, from highly liquid trading markets to pledge/agricultural options, are designed to cater to traders and investors at all levels.
In addition to the DeFi model, the aforementioned trading robots and our new portfolio margin model are a few examples of how we continue to promote convenient services and tools [the success of] Crypto market participants. OKEx is the first platform to provide real portfolio margin through multi-currency collateral risk offset-this is a huge advantage for professional traders trading large portfolios, especially options/other crypto derivatives, because of it Allows them to greatly reduce margin requirements.
CT Markets Pro users: What do you think of the total cryptocurrency market value in one or five years? Which market segment is underestimated now? identity? Yuan? layer?
It’s hard to say any exact numbers, but the graph seems to be up and to the right! However, market participants will pay close attention to changes in monetary policy next year. Personally, I think the Web 3.0/digital identity/metaverse projects are underestimated compared to their (or at least some) position in a few years.US Talked about In an episode of our podcast last week, there was a lot of content about this with some great guests.
Disclaimer: The following market forecasts were made before the news of the new coronavirus variants appeared The global capital market is negatively affected November 26. They may not be suitable for the current environment and should not be considered investment advice.
CT Markets Pro users: Do you think [Bitcoin price] 69,000 USD is the highest? Will there be another alternative season in the next few months?
OKEx employees: In my opinion, it is only a matter of time before the US$69,000 is the highest price. On-chain indicators such as transaction flow and balance indicate that the last historical high (US$69,000) is unlikely to be the peak of this cycle. Having said that, Bitcoin Even if most indicators are bullish, they are unlikely to rise in a straight line. This is because the market has matured and market participants have become increasingly diverse. The market composition from 2013 to 2017 and 2021 is mature in the sense of the difference. For example, more “serious” investors and institutions from CME and exchange-traded funds (ETFs) participate in and futures.
The larger the market, the slower the movement speed and the lower the volatility. However, the next few months, especially the first quarter of 2022, should be interesting, as we may see this bullish cycle continue into next year instead of ending in December. If this happens, we will definitely see another alternative season.
I think we have now started to see a meme season/meta festival season. Obviously, the news from Facebook’s full support of Yuanjie stimulated things in this regard, but the decentralized Yuanjie will definitely see new capital inflows. In my opinion, the market circulates between various sectors; for example, we are currently seeing the Metaverse trend, but as long as BTC is still bullish/not falling sharply, other lagging categories will start to catch up. Generally speaking, if the market looks strong, then everything will rise sooner or later. We can see the continued inflow of institutional funds. The balance of institutional liquidity has increased steadily. However, it is difficult to say to buy Ethereum because they trade everything and have different types of strategies.
For example, the BTC exchange net position change indicator still shows no signs of the current price or the last ATH [All Time High], As we saw in May.
Bitcoin net trading position changes | Source: OKEx