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 almost $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 usually tough for brand new cryptocurrency fanatics to navigate the advanced world of buying and selling and finance. OKEx seeks to deliver such subtle 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 Consumer: 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 must 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 absolutely automated by selecting the AI possibility and simply setting the order quantity in Tether (USDT) or you’ll be able to manually set your parameters, together with the higher and lower cost limits, for the asset you wish to commerce.

So the bot is basically an auto-trading software 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 so on., reasonably than simply up, up, up. The buying and selling bot on OKEx is offered for all spot buying and selling pairs, which suggests 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, seemingly, however here is the written tutorial. And here is what it looks like within the person interface (UI). You need not [have] API/coding expertise as a way to execute such a strong and automatic technique. 

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

OKEx buying and selling interface | Supply: OKEx

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

Buying and selling bot revenue and loss | Supply: OKEx

CT Markets Professional Consumer: How do you suppose the India crypto ban will influence the crypto area?

OKEx workers: I feel, 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 possibly even be stronger. The India ban is unlikely to have any main influence in the marketplace. Crypto has turn out to be fairly resilient to such information developments over the previous couple of years. 

CT Markets Professional Consumer: 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 possibility market makes use of the Black Scholes mannequin to compute mark value (truthful worth of the precise contract). And for danger 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 Consumer: I not too long ago 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 known as OEC. The mainnet was launched this summer time. 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 strong as doable 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’ll be able to read this, however it’s not gentle studying.

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

OKEx workers:  DeFi is a brand new mode on OKEx. You possibly can 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’ll be able to 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 present consists of our very personal NFT market, GameFi middle, and dashboard, the place you’ll be able to view your whole decentralized belongings, together with your NFTs. However there’s extra coming quickly! OKEx supplies a bespoke Net 3.0 pockets which you can 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 provides are solely available on OKEx Earn by way of our centralized platform. That is all I can say for now. 

CT Markets Professional Consumer: I’d recognize 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 undoubtedly performing as gateways for non-native crypto buyers/merchants attributable to 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’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 significantly, which suggests buyers are considerably conscious of the dangers. Furthermore, the highest meme cash, reminiscent of DOGE and SHIB, have truly cemented themselves fairly properly by now. We truly did an episode on meme cash on our podcast. Right here is a hyperlink to that for the total dialogue.

CT Markets Professional Consumer: 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 sport aggregator. So you will discover all the most recent and hottest blockchain video games there. You possibly can simply filter by blockchain community and we function video games on over 20 completely different networks, together with video games solely constructed on OEC (the general public blockchain developed by OKEx, which I defined above). Every sport listed on OKEx GameFi has its personal web page that tells you all concerning the sport, the worth 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 sport built on OEC.

CT Markets Professional Consumer: 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 complicated 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, reminiscent of 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.

Aside 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 enormous 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 Consumer: The place do you see the overall crypto market cap going in a single yr, 5 years? What market section is undervalued proper now? Identification? Meta? Layer one?

It is exhausting to say any precise numbers, however it looks as if the charts go up and to the appropriate! Nevertheless, market individuals will do properly to maintain tabs on financial coverage modifications within the subsequent yr. Personally, I feel that Net 3.0/digital id/metaverse tasks are undervalued in comparison with the place they (or no less than some) might be in a number of years. We talked rather a lot 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 stories of a novel coronavirus variant negatively impacted capital markets worldwide on Nov. 26. They is probably not relevant within the present setting and shouldn’t be thought to be funding recommendation.

CT Markets Professional Consumer: Do you guys suppose 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, in my view. On-chain metrics, reminiscent of 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 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 variety of market individuals as properly. 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 unstable it turns into. Nevertheless, the subsequent few months, particularly Q1 2022, needs to be attention-grabbing to watch as we might even see this bullish cycle lengthen into the subsequent yr as a substitute 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 intervening time. Clearly the information from Fb going all-in with the metaverse spurred on that facet of issues, however the decentralized metaverse is certainly seeing new capital influx. In my opinion, the market cycles by way of sectors; as an example, we’re at present seeing metaverse trending however may see different lagging classes begin catching up so long as BTC stays bullish/does not slide too sharply. Usually, if the market seems sturdy, all the pieces goes to rise ultimately. We are able to see there’s a constant influx from institutional cash. Fairness stability on institutional stream is steadily growing. Laborious to inform almost about shopping for Ethereum, although, since they commerce all the pieces and all have several types of methods.

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

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

Bitcoin web buying and selling place change | Supply: OKEx