Bitcoin derivatives witnessed a major expiry event with a notional value of over $1 billion. Today, $272 million of Bitcoin futures expired on the Chicago Mercantile Exchange, while over 65,000 Bitcoin options contracts expired across Deribit, CME and OKEx, having a notional value of over $740 million. Usually, major expiry events bring about a considerable change in volatility and price that can be seen through derivatives volumes, open interest and even put/call ratios. The Bitcoin (BTC) derivatives market, consisting mainly of Bitcoin futures and options, has grown multifold in 2020. This growth has seen the relationship between BTC’s price and …

OKEx is the latest cryptocurrency exchange to hop on the DeFi bandwagon. On August 28, they announced listings for eight different DeFi tokens, including Band Protocol (BAND), JUST (JST), REN, Reserve Rights (RSR), Yearn.finance (YFI), Nexus Mutual (wNXM), YFII.finance (YFII), and Tellor (TRB). These new listings expand their DeFi suite to a total of 27. OKEx’s CEO, Jay Hao, praised the DeFi sphere, stating: “OKEx has been keenly observing the DeFi market dynamics and trying our best to collaborate with high-quality innovative DeFi projects that show the most potential. We are very encouraged to see so many excellent projects emerging …

Ethereum Classic, a 2016 hard fork from Ethereum’s main blockchain, has suffered multiple concerning network attacks over the last two years. Two such attacks occurred within a seven-day span, totaling millions of dollars in losses. With the dust settling from the two 51% attacks, further details are now coming forward, as provided by a number of industry experts. “There is no debate about the attacks,” ETC Labs CEO Terry Culver told Cointelegraph on Aug. 7, answering a question on whether or not the network difficulties were in fact 51% attacks. “Community members shared the most accurate information available as quickly …

ETC is facing delisting from OKEx in the wake of a 51% attack that cost the exchange $5.6 million. According to a report recently released by OKEx, the perpetrators registered five accounts between June 26 and July 9, 2020, subsequently depositing 68,230.02 ZEC (worth more than $5 million) on their platform. On July 31, the attackers exchanged their ZEC holdings for 807,260 ETC and withdrew it from the exchange. The on-chain process of the initial 51% attack on Aug. 1. Source: community enthusiasts On the same day, the attackers began creating a “shadow chain” using their newly acquired hashrate. At …

Chainlink's LINK token has experienced a meteoric rise this year, becoming a top-five crypto asset by market capitalization. We took a look at the data from the decentralized finance space as well as Google to help explain this phenomenon. In the past 24 hours, Chainlink has seen another massive rise of 30% (alongside other DeFi tokens such as SNX and MKR), which seems tied to demand from yield farmers trying to get their hands on YAM tokens with the much hyped new protocol. The battle for number five, 2020 edition. Source: CoinMarketCap. The battle for the number five spot in …

Cryptocurrency exchange OKEx has announced a new peer-to-peer trading platform launching Aug. 5, which allows users to buy digital currencies with zero transaction fees using Indian rupees (INR). The announcement comes hot on the heels of reports that the Indian government is planning to pass a law making cryptocurrency trading illegal in the country. Easy fiat onramp supports major Indian payment platforms At launch the platform is offering Bitcoin (BTC) and Tether (USDT) pairs for INR, with support for further cryptocurrencies promised soon. OKEx describes the platform as a marketplace for traders to make fiat-to-crypto transactions via escrow. Users may …

OKEx has listed the native token of Polkadot (DOT) on its trading platform. According to an announcement shared with Cointelegraph on July 17, DOT spot trading against Tether’s USDT stablecoin on OKEx started at 8:00 AM UTC today. As Cointelegraph recently reported, Pokadot’s technology allows developers to spin up a new blockchain within one hour. Per the announcement, DOT deposits and withdrawals aren’t supported yet, and the tokens can currently only be obtained by claiming them on the mainnet from Ethereum’s blockchain. OKEx also recently published a detailed guide on how to claim the Ethereum-based ERC20 DOT tokens to Polkadot’s …

Decentralized finance (DeFi) will be part of the lives of many people in the future, according to Jay Hao, the CEO of crypto exchange OKEx. When answering Cointelegraph’s recent inquiry concerning the listing of Compound (COMP) DeFi protocol’s token on OKEx, Hao predicted that the importance of decentralized finance will grow in the upcoming years. He said that he believes “that DeFi will disrupt traditional finance not far in the future” and explained: “We are very bullish on the future of DeFi and truly believe that its products will be integral in the lives of many in the coming years. …

Jay Hao — CEO of major crypto exchange OKEx — made positive remarks about meme cryptocurrency Dogecoin (DOGE). When answering Cointelegraph’s recent inquiry concerning new Dogecoin-related OKEx features, Hao made it clear that he has a rather positive view of the cryptocurrency. He said: “Despite showing the lighter side of cryptocurrency, it is not a joke and has shown healthy development and longevity.” Hao explained that Dogecoin, which was born of a Litecoin (LTC) fork in 2013, is one of the oldest cryptocurrencies. He also said the way DOGE is “used for tipping on Reddit and Twitter has shown that …

The growth of the crypto derivatives market in 2020 has been a story of its own, mainly driven by Bitcoin (BTC) and Ether (ETH) options traded on exchanges such as the Chicago Mercantile Exchange, Deribit, OKEx, Binance and Houbi. Record Bitcoin options volumes are indicative of an increasing institutional interest in crypto, but there are better quantitative and qualitative indicators to use, such as open interest, Bitcoin’s price, frequency of block trades, institutional Know Your Customer processes and others. Compared with traditional derivatives, the proportion of institutional investors in the entire pool is still small, but it is clear that …

Though Bitcoin’s (BTC) correlation with gold has diminished, the asset’s correlation with the S&P 500 stock market index is on the rise, researchers from Kraken exchange found. Kraken Intelligence, a research arm of major United States cryptocurrency exchange, Kraken, released a “Bitcoin Volatility Report” for June 2020. Bitcoin’s volatility hits a 6-month low Published on July 9, the new report outlines a 31% drop in Bitcoin trading that resulted in a six-month low of Bitcoin’s annualized volatility, which accounted for 51% in June. According to the report, the significant decline in volumes and volatility marked June as the quietest month …

Cryptocurrency exchange OKEx launched saving accounts and margin trading for meme cryptocurrency Dogecoin (DOGE). According to an announcement shared with Cointelegraph on July 9, OKEx announced that leveraged spot trading, perpetual swap contract trading, and saving features will launch tomorrow for the meme-based cryptocurrency, Dogecoin. OKEx did not answer Cointelegraph’s inquiry by press time. Exchanges capitalize on the Dogecoin crazie The announcement follows a recent Dogecoin viral marketing campaign conducted by its fans on social media video platform TikTok. The campaign apparently caused the coin’s price to surge by over 124% in just two days, according to data from Coin360. …