OKEx starts strong in October, leading all Bitcoin futures exchanges

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VALLETTA, Malta, Oct. 6, 2020 /PRNewswire/ -- OKEx (https://www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, is starting October and the final quarter of 2020 strong, leading all Bitcoin futures exchanges in terms of 24-hour Bitcoin futures trading volume, Bitcoin futures open interest and Bitcoin futures aggregated daily volumes, according to data from skew. 

As of Sunday, Oct. 4, 24-hour trading volume stood at over $1.3 billion on OKEx compared to the $1.23 billion of its closest competitor. Open interest on OKEx was the highest by a wide margin, at $850 million compared to $620 million, and aggregated daily volumes, at $1.2 billion, were also leading the pack. 

Despite several unfortunate developments in the crypto space — recently including legal action from the CFTC against a competing exchange and the $200 million hack of another — Bitcoin futures and options sentiment has held steady, and these figures could indicate a potential BTC bull run on the near horizon. With its robust infrastructure, growing global user base and stellar reputation, OKEx is maintaining its edge in the BTC futures space. 

In addition to its solid BTC futures offering, OKEx also holds the top position of all crypto derivatives exchanges, as per data from CoinGecko. With an astounding total of 608 pairs available for traders across its futures, perpetual swap and options markets, the total 24-hour trading volume reached $2,779,676,042, with a combined open interest of $1,139,330,026.

OKEx CEO Jay Hao commented:

"We are extremely encouraged to see OKEx putting in such a strong performance as we enter the last quarter of what has been a challenging year for many businesses, particularly in traditional industries. As our flagship product, OKEx is pleased to be dominating the BTC futures space, but we're also proud of our ever-expanding offerings that allow our traders to capitalize on the latest up-and-coming projects as well as trade popular DeFi tokens and other altcoins using margin and perpetual swap."

"The crypto industry is no stranger to bad news and challenging conditions, but it's encouraging to see that trader sentiment surrounding Bitcoin is still high," he added.

This is far from the first time that OKEx has outperformed all other exchanges when it comes to Bitcoin futures and other derivatives trading. In fact, just last month, OKEx was ranked as the world's largest crypto derivatives exchange, according to data from CoinDesk Research. 

About OKEx

A world-leading cryptocurrency spot and derivatives exchange, OKEx offers the most diverse marketplace where global crypto traders, miners and institutional investors come to manage crypto assets, enhance investment opportunities and hedge risks. We provide spot and derivatives trading — including futures, perpetual swap and options — of major cryptocurrencies, offering investors flexibility in formulating their strategies to maximize gains and mitigate risks.

SOURCE OKEx