Copyright © 2018

OKEx surpasses Binance as the World’s top Crypto Exchange by Trade Volume


World’s second largest cryptocurrency exchange, OKEx bagged the first position according to Coinmarketcap today. On November 09, 2018, OKEx cryptocurrency exchange with a market cap, $609,908,960 has surpassed Binance which currently stands with market cap $562,039,878.

Ever since the emergence of Bitcoin and other altcoins, Coinbase in the US, Huobi in Singapore and OKEx in Hong Kong have all appeared as the major market players. Looking closer to the graph of coinmarketcap, while OKEX surpassed Binance, DigiFinex which was on the fourth position has grabbed the third position by overtaking Huobi. However, the list of top ten cryptocurrency exchange is followed by OKEX, Binance, DigiFinex, Huobi, ZB.Com, LBank, Coinbace, HitBTC, IDAX, and Bitfinex.

Among the major three crypto exchanges, OKEx shows the negative volume of 26.01% during 24 hrs and Binance loses 36.80% while DigiFinex lost 26.08%.

Latest Updates and New Product Launch by OKEx

So far, OKEx has been in bulletins with newest launch and upgrades. As reported by Coingape, it has recently announced the launch of a new derivative product called “perpetual Swap”. This Malta-based cryptocurrency exchange widens its market audience by offering services that are beyond its current sports trading.

Besides this, OKEx also opened up the support for Vietnamese dong (VND) to its fiat-to-crypto platform. However, the key aim is to enable Vietnamese customers to access tokens in exchange of their fiat currency. It does through its Customer-to-Customer (C2C) platform, launched in the year 2017.

Moreover, the exchange has also expanded its business in the United States. It is reported that the platform has already acquired money transmittal licenses 9(MTLs) from 20 states throughout the US which exclude NewYork and Washington, D.C.

Across the various countries, Malta has long been considered as the crypto friendly nation. With the OKEx’s recent uplift in total market cap is likely to enhance the blockchain businesses based in Malta and may open new opportunities for OKEx within the nation and the other parts of the world.

What’s your view on crypto market fluctuations? Will OKEx remains on top or Binance comes in a battle again? Lets discuss.

The post OKEx surpasses Binance as the World’s top Crypto Exchange by Trade Volume appeared first on Coingape.