A New DEX, a Derivative Platform, and the Latest Derivatives Product from Exchanges

A New DEX, a Derivative Platform, and the Latest Derivatives Product from Exchanges

Three of the biggest exchanges recently announced their new offerings

Binance gave a sneak peek of the Binance DEX. Huobi is about to deliver a Derivative Platform. And OKEx introduced its Perpetual Swaps.

The Binance DEX

User funds on the DEX will be secured with decentralized wallet application like Trust Wallet, which has a server-free infrastructure that stores private keys only on the user’s device…

Binance Statement

On 4 December Binance gave a video demonstration of the new Binance DEX. The DEX is a decentralized cryptocurrency exchange. The preview exhibited its interface, which has the same feel as the current Binance layout. It has a decentralized wallet that is fully under user control. It is also equipped with the Binance Block Explorer. Users can view their balances, the order book, and trade and order history.

According to Changpeng Zhao, better known as CZ, users will have an option to choose between a centralized or a decentralized exchange.

When transacting through Binance DEX gas tokens will be in BNB, the exchange’s very own ERC-20 token.

A beta will be open to the public by the end of this year or early next year.

The Huobi Derivative Market

On the 28 November Huobi announced the launch of the Huobi Derivative Market (Huobi DM). The platform lets users participate in derivatives trading based on the cryptocurrency market trajectory. It is integrated with instruments made for hedging and risk managem

Huobi DM is not ready for the Hong Kong, Israel, Malaysia, and US markets. It is in beta testing.

OKEx Perpetual Swaps

I think it’s a great product because traders want high leverage… You can hold onto a position as long as you want…

Thomas TSe, OKEx Head Quantitative Strategist

On 3 December OKEx introduced their new derivatives product, the Perpetual Swaps which is said to hold as much as 100x leverage from betting for or against the price changes of the market.

The exchange’s swaps do not expire, so a speculator can take his time before making the decision to buy an asset at which the seller holds to sell.

Settlements from the swaps are done daily with a small transaction fee.

Perpetual Swaps was first brought to the market by BitMEX.

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Bullish on Ethereum But $20,000 a Conservative Bitcoin Price Prediction for 2019, Andy Cheung of OKEx

While Bitcoin is crashing, Andy Cheung, head of operations at OKEx exchange predicts Bitcoin to hit higher than $20,000 next year. However, he is more bullish on Ethereum development which has its hard fork coming in January. Predicting a Big Year Ahead for Bitcoin & Ethereum Bitcoin is currently trading at about $3,400, down more than 82 percent from its all-time high (ATH) in December last year. However, Bitcoin bull, Andy Cheung, the head of operations at the second largest crypto exchange, OKEx is still extremely bullish on the leading cryptocurrency. Andy Cheung took to Twitter to share that the ongoing Bitcoin price crash is no big deal as Bitcoin has gone through even worse. According to his shared data shown below Bitcoin lost about 95 percent of its value in 2011 and 85 percent between the 2013-2015 time period. And this is making Cheung bullish on Bitcoin price as he writes, “Look at the percentage increase over the years. Above $20,000 seems already a conservative guess for 2019.” Just recently, Bloomberg reported that its Galaxy Crypto Index is in oversold territory based on GTI Global Strength Indicator. This indicator “measures the strength of the price by comparing individual upward or downward movements of successive closing values.” Last time, this indicator was oversold has been in late November when “it rallied about 20 percent.” Though a long term upward trend is unlikely to happen, a small relief rally could be in order. However, Cheung further mentions that he is more bullish on Ethereum which is currently trading at about $88, down more than 93 percent from its peak. “But personally, I am more optimistic at the development of ETH next year.” Next year, Ethereum has its hard fork coming in late January that could play in favour of the third largest cryptocurrency. Recently, CFTC that regulates derivatives shared in a statement that it is planning to seek public feedback on Ether. The questions asked by the agency revolves around the difference between the functionalities, compatibility, governance, and underlying technology of Ethereum and Bitcoin. A few months back, William Hinman, who runs corporation finance division of SEC said that he didn’t believe token was a security in its current form. This, according to Chris Concannon, president of Cboe marked as a clearance to a “key stumbling block for Ether futures.” The post Bullish on Ethereum But $20,000 a Conservative Bitcoin Price Prediction for 2019, Andy Cheung of OKEx appeared first on Coingape.

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