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On 12 November 2019, OKEx CEO Jay Hao hosted an “Ask-Me-Anything” session on the English Telegram group with the topic surrounding the OKEx ecosystem, which followed the previous one discussing the newly launched USDT futures. This article presents some of the highlights of the AMA session.

1. OKEx listing criteria is clear and transparent

Regarding the project listing, Jay explained that OKEx has strict requirements, and the listing/delisting guidelines are clear and transparent. Truly quality projects are the ones OKEx would like to pick up for their users, and the cryptocurrency exchange also takes some measures, such as the upgrade of their Jumpstart rules, to alleviate market speculations and manipulations.

2. Users and security are second to nothing

Jay Hao highlighted in the AMA session, “Users and security are second to nothing, and it is about the security of funds, trading, data and privacy.” According to the AMA, OKEx has recovered over 400 million US dollars for their users, and the cryptocurrency exchange has also divided the assets between multisig cold wallets with around 500BTC each so that the risk could be better managed and controlled. As mentioned by Jay Hao, there has been no security issue on OKEx.

3. OKChain is to be launched, OKDex will be the first DApp

OKChain, the self-built blockchain infrastructure by OKEx, is at the final stage of testing. It is expected to help the unbanked by providing them basic financial services. The decentralized exchange, OKDex, will be the first DApp launched on this blockchain infrastructure. Also, OKB, the native token circulating in the OKEx ecosystem, will be equipped with more use cases in different fields, including cybersecurity, finance, lifestyle services and more.

4. OKEx offers wider range of products compared to its competitors

In the AMA session, when talking about the difference from their competitors, Jay Hao mentioned the wider range of products could be one of the ways they stay ahead of other exchanges in the market. Also, the super matching engine which could provide reliable and stable services is another highlight mentioned by Jay Hao.

5. OKEx Pool supports PoW and PoS mining of 9 major cryptocurrencies

OKEx Pool integrates mining and trading services with support for PoW and PoS/PoS-variant mining of 9 major cryptocurrencies, so that users can transfer mining rewards to OKEx mining accounts directly. As highlighted by Jay Hao, the cryptocurrency exchange can also provide technical and security service to its users. As the exclusive exchange which could provide hedging opportunities for digital assets, OKEx can help miners secure their mining income for a maximum of 180 days.

6. OKEX USDT-margined perpetual swap to be launched in December

Jay Hao, CEO of OKEx, mentioned that new products, USDT perpetual swap trading simulation and trading contest will be launched in early December.


Guest Author , 2019-11-21 16:02:32

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NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.

While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

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Nick Chong , 2019-11-10 12:00:38

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