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 change based mostly in Seychelles. According to CoinGecko, OKEx is the world’s third-largest cryptocurrency brokerage, with almost $12 billion in buying and selling quantity inside the previous 24 hours. The change lists 312 cash and 518 cryptocurrency buying and selling pairs.

It is usually tough for brand new cryptocurrency fans to navigate the advanced world of buying and selling and finance. OKEx seeks to carry 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 employees 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 totally 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 possibly can mainly go totally automated by selecting the AI choice and simply setting the order quantity in Tether (USDT) or you’ll be able to manually set your parameters, together with the higher and cheaper price limits, for the asset you wish to commerce.

So the bot is basically 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 we’ve got on OKEx, it will likely be extra worthwhile if the market you select goes up (promoting), then down (shopping for), then up, down, and many others., reasonably than simply up, up, up. The buying and selling bot on OKEx is accessible for all spot buying and selling pairs, which suggests you should buy 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 with the intention 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 impression the crypto area?

OKEx employees: I believe, for India, the regulator wish to have a extra complete framework in regulating crypto as a substitute of banning it. Historical past informed us when crypto is allowed and controlled — it could even be stronger. The India ban is unlikely to have any main impression available on the market. Crypto has grow to be fairly resilient to such information developments over the previous couple of years. 

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

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

CT Markets Professional Person: I not too long ago heard [of] some developments with the OKExChain. What is going on on with that?

OKEx employees: Sure, the rumors are true! [The trading chain] It is known as OEC. The mainnet was launched this summer season. Just a little bit about OEC: it is an EVM [Ethereum Virtual Machine] appropriate public blockchain that makes use of Cosmos / Tendermint structure. OKEx has been quietly creating OEC for a number of years to make it as strong as potential and to deal with the blockchain trilemma. Versus being an Ethereum clone, it is being constructed from the bottom up. For extra in-depth data on OEC, you’ll be able to read this, but it surely’s not gentle studying.

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

OKEx employees:  DeFi is a brand new mode on OKEx. You possibly can toggle between the “Change” 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 Internet 3.0 pockets, you’ll be able to monitor wallets and see all of your DeFi belongings in a single place. For the time being, the DeFi mode (which launched this fall) at the moment consists of our very personal NFT market, GameFi heart, and dashboard, the place you’ll be able to view your entire decentralized belongings, together with your NFTs. However there’s extra coming quickly! OKEx offers a bespoke Internet 3.0 pockets you can conveniently use by way of the browser extension (Chrome or Firefox) or instantly within the OKEx app. At present, staking, financial savings and yield-farming provides 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 admire 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 employees: Good query! Sure, meme cash are undoubtedly appearing as gateways for non-native crypto buyers/merchants attributable to their accessibility. There’s a particular risk of those cash sliding sharply sooner or later, however I would not go as far as to say they’ll 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 critically, which suggests buyers are considerably conscious of the dangers. Furthermore, the highest meme cash, resembling DOGE and SHIB, have truly cemented themselves moderately nicely by now. We truly 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 employees: For the time being, the GameFi heart on okex.com is a play-to-earn recreation aggregator. So yow will discover all the most recent and hottest blockchain video games there. You possibly can simply filter by blockchain community and we characteristic video games on over 20 completely different networks, together with video games completely 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 embrace the hyperlink on to the sport’s website so you’ll be able to 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 change selections?

OKEx employees: OKEx is a sophisticated buying and selling platform that gives derivatives (choices, futures, perp swaps), buying and selling bots, margin buying and selling and an unlimited variety of tokens. Plus, we not too long ago 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 companies, starting from extremely liquid buying and selling markets to staking/farming choices, are geared toward catering to merchants and buyers 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 companies and instruments that facilitate [the success of] crypto market individuals. OKEx is the primary platform to supply true portfolio margin with multi-currency collateral danger offset — it is a big plus for skilled merchants buying and selling massive portfolios, particularly choices/different crypto derivatives as a result of it lets them closely scale back margin necessities.

CT Markets Professional Person: The place do you see the overall crypto market cap going in a single 12 months, 5 years? What market section is undervalued proper now? Identification? Meta? Layer one?

It is exhausting to say any precise numbers, but it surely looks like the charts go up and to the fitting! Nonetheless, market individuals will do nicely to maintain tabs on financial coverage modifications within the subsequent 12 months. Personally, I believe that Internet 3.0/digital identification/metaverse initiatives are undervalued in comparison with the place they (or at the very least some) shall be in just a few years. We talked so much about this with some nice visitors on final week’s episode of our podcast.

Disclaimer: The next market predictions had been made earlier than of the onset of reports of a novel coronavirus variant negatively impacted capital markets worldwide on Nov. 26. They is probably not relevant within the present atmosphere and shouldn’t be considered funding recommendation.

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

OKEx employees: $69 thousand is the highest or not is a matter of time frames, for my part. On-chain metrics, resembling change flows and balances, point out that the final all-time excessive ($69 thousand) could be very unlikely to be the highest for this cycle. That being stated, BTC can be not more likely to transfer straight up, even when most metrics are bullish. That is due to the way in which the market has matured and the rising variety of market individuals as nicely. Matured within the sense that there’s a distinction in market composition from 2013 to 2017 and 2021. Much more “severe” buyers and institutional involvement and futures from CME, as an example, 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 fascinating to look at as we may even see this bullish cycle lengthen into the subsequent 12 months as a substitute of ending in December. If that occurs, we will certainly see one other alt season.

I believe we’re already beginning to see one thing of a meme season/metaverse season in the mean time. 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 example, we’re at the moment seeing metaverse trending however might see different lagging classes begin catching up so long as BTC stays bullish/would not slide too sharply. Typically, if the market seems robust, all the pieces goes to rise ultimately. We will see there’s a constant influx from institutional cash. Fairness stability on institutional circulate is steadily rising. Exhausting to inform as regards to shopping for Ethereum, although, since they commerce all the pieces and all have various kinds of methods.

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

Bitcoin web buying and selling place change | Supply: OKEx