OKEx reveals over 300% growth in trading volumes this year
Perpetual swap products saw the most growth, followed by spot trading
VICTORIA, Seychelles, Nov. 17, 2021 (GLOBE NEWSWIRE) -- OKEx — a top cryptocurrency exchange and DeFi ecosystem — today reported 308% growth in total trading volumes over the past year. OKEx's total trading volume of all listed assets grew from $1.8 trillion in October 2020 to $7.4 trillion as of October 2021.
Breaking down this massive growth, perpetual swap products on OKEx saw the highest increase, with trading volume growing by 455% year-over-year. Cryptocurrency spot and futures products also saw impressive growth in terms of trading volumes — up 365% and 209%, respectively.
In October 2021, BTC, DOGE, SHIB, OKB, ETH and SOL were among the top-10 assets with the highest trading volumes on OKEx spot markets. Total spot trading volumes for the 10 assets combined reached a monthly high of over $6.5 billion, which reflects increasing industry-level interest in dog-themed memecoins, as well as decentralized finance.
OKEx's notable growth in trading volumes is accompanied by the firm's market-leading push into the DeFi, GameFi and nonfungible token (NFT) spaces. This fall, OKEx launched a DeFi mode on both its website and mobile app, featuring a bespoke Web 3.0 wallet, as well as an NFT Marketplace and play-to-earn crypto gaming center. The platform also recently launched an advanced trading feature, portfolio margin, specifically designed to improve capital efficiency for professional and institutional traders.
“We are extremely pleased to witness this positive growth trajectory over the past year,” said OKEx CEO Jay Hao, adding:
“This would not have been possible without the support from our valued customers — the trusted OKEx family. In the past year, we upheld our commitment to better serve our customers with the launch of various offerings, including the new DeFi mode on OKEx, which includes a self-custodial, decentralized wallet, as well as an NFT Marketplace and blockchain game center.
To cater to institutional and professional traders, a CME-like portfolio margin system was introduced as part of our efforts to build the world’s most powerful trading platform for crypto traders. As we celebrate our fourth anniversary, we look forward to expanding our offerings and further growing our family in the global markets.”
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