Tag: OKCoin

Okcoin reports altcoins drove institutional interest in crypto for 2021

Cryptocurrency exchange Okcoin has reported the number of and trading volume of institutions surged significantly in the last year, driven largely by stablecoins and tokens in decentralized finance. In a report released on Oct. 26, Okcoin said it had seen a 450% increase in the number of institutional customers on its platform between September 2020 and September 2021, as well as a 124% increase in institutional trading volume over the same period. According to the report, 53% of the purchases institutional investors made in September were for altcoins. In addition,…

US and Singapore companies collaborating: Okcoin partners with Hodlnaut

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Singapore-based crypto lending platform Hodlnaut will partner with United States crypto exchange Okcoin in an effort to drive adoption and crypto transactions among users. In a Wednesday announcement, Hodlnaut said the partnership would allow its users and those on Okcoin to purchase cryptocurrencies and earn rewards on their holdings. The lending platform said Singapore-based users already use Okcoin as a fiat on-ramp solution to go from the Singapore dollar to Bitcoin (BTC) and Ether (ETH). “We are building the next generation of tools to help onboard the investors and traders…

OKCoin delists two Bitcoin forks over ‘malicious misinformation’ campaign

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While the original Bitcoin rallies past a $1 trillion dollar marketcap, two forks of the world’s most popular cryptocurrency have instead lost a source of liquidity as crypto exchange OKCoin delists BSV and BCH.  In a blog post today, OKCoin CEO Hong Fang explained the decision to delist as one focused on protecting investors from a “malicious misinformation war.” Fang noted that the exhcange regularly reviews listed assets across a variety of metrics, “including ecosystem development and ethos” as well as “ethical or reputational red flags,” and that the two…

OKCoin Will Delist BCH and BSV to Support the Bitcoin Ecosystem

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Quick take: OKCoin will delist Bitcoin Cash (BCH) and Bitcoin SV (BSV) on March 1st, 2021 The move is aimed at supporting the Bitcoin ecosystem and protecting new investors OKCoin CEO further explained that misinformation war by Craig Wright is another reason behind delisting BSV The crypto exchange of OKCoin will delist Bitcoin Cash (BCH) and Bitcoin SV (BSV) effective March 1st, 2021. The CEO of OKCoin, Hong Fang, made the announcement earlier today explaining that the decision to delist both digital assets was a tough one, but one that…

OKCoin to Integrate Bitcoin’s Lightning Network in Q1

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OKCoin is the latest crypto exchange to support Bitcoin’s Lightning Network. Per details shared with CoinDesk, the exchange is in the final phases of integrating the secondary scaling network. It should be live within three to four weeks, OKCoin’s team told CoinDesk. “We have been a bitcoin exchange since 2013, and while we are excited about [decentralized finance] and other assets, we know bitcoin is the foundation of the entire industry Bitcoin’s network is often congested and has high transaction fees, particularly during bull markets,” OKCoin CEO Hong Fang told…

Institutions are thrilled that you’re selling, suggests OKCoin COO

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A number of mainstream companies have picked up massive piles of Bitcoin (BTC) since summer 2020. Meanwhile, the asset surged past its 2017 record high near $20,000, recently cracking $34,000 before pulling back toward $27,700. The dip, however, has created some serious buying pressure, according to OKCoin’s chief operating officer, Jason Lau. “Over the weekend, as Bitcoin prices hit fresh all time highs near $34k, markets touched new levels of resistance,” Lau told Cointelegraph. “Both total crypto market cap and bitcoin dominance reached 2017 highs, at around $800B and 73%…

OKCoin to Suspend XRP Trading and Deposit from January 4, 2021

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According to the announcement, the XRP deposit and trading would be disabled on January 4, 2021, as the lawsuit proceedings are taking place. OKCoin has announced its intention to suspend XRP trading and deposit following the recent lawsuit against Ripple Lab, the company behind the asset, and two executives. This is a huge blow as panic withdrawal has been triggered with investors under pressure to switch to other assets. Coinbase has also announced that they will halt XRP trading in the coming year amid the reported lawsuit. The price of…

OKCoin latest exchange to suspend XRP trading and deposits

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Crypto exchange OKCoin announced it would delist XRP following the news that the U.S. Securities and Exchange Commission would be pursuing legal action against Ripple. In a blog post released today, OKCoin said its “best course of action” in response to the recent SEC lawsuit would be to suspend trading and deposits of XRP. The exchange wrote that the suspension would take place over two days. Users who borrowed XRP/USD through OKCoin “are required to return the borrowed value” before Jan. 3. The following day, the exchange will suspend spot trading, margin…

OKCoin says crypto industry lacks means to comply with new US Treasury proposal

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U.S. Treasury Secretary Steven Mnuchin recently dropped a proposal requiring exchanges and crypto platforms to verify the identity of customers exporting digital assets to self-hosted wallets. Crypto exchange OKCoin noted the proposal would create additional work for exchanges.  “Upon preliminary review of the FinCen [Financial Crimes Enforcement Network] proposal as well as the wallet verification requirements, I think the proposal of extending the CTR requirement to crypto exchanges and having to collect the physical address of the recipient would mean great operational and administrative burden for exchanges,” OKCoin’s chief compliance…

OKCoin to Become First Exchange to List Blockstack’s STX Token in US

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STX token trading will begin on the OKCoin exchange after the launch of the Stack 2.0 mainnet on the 14th of January. OKCoin has revealed plans to list Blockstack‘s STX token in the US in 2021. After a successful listing, OKCoin users in the US will have access to trade STX on the OKCoin exchange platform. Apart from its US customers, OKCoin said users in other countries will also be able to trade STX. However, customers in the EU, Singapore, and Brunei will not be able to trade STX on the exchange…