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Futures trading is one of the common trading activities in traditional financial markets, and it is no different when it comes to the cryptocurrency world as well. Currently, there are plenty of platforms that offer cryptocurrency futures trading options, and the leader among them by a huge margin is OKEx, which has managed to gain the tag of the world’s largest futures cryptocurrency exchange.

OKEx takes the top spot on Nov 22, 2019 – CoinGecko data

The platform’s claim for fame is further supported by a range of features offered to its customers. These features are designed to help them optimize their trading practices to place profitable trades while minimizing associated risks to an extent. In fact, the most recent crypto futures offering on OKEx is the USDT-Margined futures which went live earlier this month. Some of the salient features of this offering include 0.01-100x leverage, face value as less as 0.0001 BTC, Tice Size of 0.1, linear contracts and intuitive trading experience. The crypto futures contracts on OKEx also offer a lot of flexibility to the traders, thanks to the platform’s size, userbase, and support for an endless list of cryptocurrencies that can be paired against each other in various combinations.

According to company sources, most of the new features are introduced based on the inputs and feedback received from the community. This has led to numerous developments in the recent past, which have had a direct bearing on the usability, convenience, and profitability of traders. Earlier this year, OKEx shifted from weekly settlements (10 AM on Fridays) to daily settlements (10 AM every day) in CEST time. By doing so, the platform ensured that traders aren’t starved of their own funds for an entire week, which they can now use to open more trades.

In addition, OKEx has also put in a lot of thought into further improving the crypto futures trading platform. The Futures and Perpetual Swap Trading Market Data on the platform further empowers the traders by giving them access to crucial market information that can be used to predict and make better trading decisions. There are also plans to develop algo orders feature for futures trading as well as perpetual swap trading, another feature requested by OKEx customers. The launch of algo trading will open the doors for trade automation, enabling the users to place more orders on a timely basis based on market parameters predefined by them.

Enhanced Risk Management

There have been some other developments in the previous year which has enhanced the trading experience on OKEx to a large extent, as the platform successfully attempted to create a balance between users’ interest and market risks. In order to minimize the impact of sudden market fluctuations on traders and their open orders, the platform introduced few risk management features like Mark Price, Tiered Maintenance Margin Ratio (TMMR) System and Forced Partial Liquidation. Since the implementation of these features, there has been a significant improvement in the performance of the OKEx Futures market as the instances of early liquidation and clawbacks were almost reduced to zero.

The new risk management system proved itself after BTC crashed by over 20% from USD 7800 to USD 6100 in a span of 10 minutes following a huge 5000 BTC dump on BitMEX. In this situation, the system was able to stabilize the quarterly contract price at a price of USD 7000 with no clawbacks. The flash crash didn’t have much impact on OKEx’ futures trading price as the new Mark Price feature sets the cryptocurrency’s market price based on the current price on 5 major exchanges viz., Gemini, Coinbase, Bitstamp, Kraken, and OKCoin.


Chart: CoinGecko (Dec 2, 2019)

All these developments and superior service have definitely played a role in keeping OKEx ahead of its competitors, securing top places in the list of Top 5 platforms for crypto derivatives by trade volumes. By continuing the same path, the platform is expected to continue dominance in the near foreseeable future.


Guest Author , 2019-12-02 19:25:08

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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.

Featured Image from Shutterstock

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

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