Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Topic started by: Goodcat49 on November 03, 2018, 11:45:07 AM
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According to recent statistics, crypto-derivatives trading makes up 90% of the trading volume, in notional value, in crypto trading market – comparing with spot trading. The domination of crypto-derivatives prove this kind of leveraged instrument is playing a fundamental role in price discovery process of cryptocurrency market. And it gradually becomes an important piece in a mature and well-balanced marketplace.
Currently, the two largest digital asset exchanges that provide crypto-derivatives trading, OKEx and BitMEX, hold a decisive position in crypto-derivatives market and each has its own competitive edge. Recently, a blog posted by Hasu, an independent crypto researcher, stirred up a heated discussion regarding concerns of trading in BitMEX. Since every decent trader would wonder the best trading venue on these highly-leveraged instrument, this article is going to compare the two largest crypto-derivatives exchanges in the world in virtues of Hasu’s opinions.
Trading Volume: BitMEX is the King of Bitcoin; OKEx is the King of Everything Else
The BitMEX’s bitcoin perpetual swap alone is now trading at around $1-2 Billions notional per 24 hours, while OKEx’s BTC futures is currently trading around $1B per 24 hours.
24H trading volume (USD) OKEx BitMEX
BTC 1,072,174,300 1,423,159,291
ETH 431,160,740 177,974,927
EOS 504,984,860 2,851,770
XRP 112,238,280 14,345,772
LTC 50,054,680 4,389,345
BCH 164,542,964 6,316,265 24H trading volume comparison
Aside from Bitcoin, OKEx showed a better volume in other altcoin futures trading comparing with BitMEX.
Market depth showed similar distribution as well. Whilst BitMEX’s bitcoin swap is showing decent market depth, the orderbook is relative thinner for altcoin futures on OKEx.
Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/okex-vs-bitmex-comparing-largest-crypto-derivatives-exchanges/
(https://coinidol.com/upload/resize_cache/iblock/d3f/900_900_1/d3f8fe264036831c4a410ae29a3cf68b.png)