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Against Fake Volume Allegation: OKEx Distributes $5M Trading Commissions to Users Weekly

Recently, there appeared an allegation regarding the trading volume of OKEx, a world-leading digital asset exchange. However, the allegation itself is invalid due to the difficulty in collecting accurate trading volume data, as a person or even as media outlets let alone exchanges like OKEx with futures trading and API transaction. What’s more is an important fact that needs to be mentioned. It has been reported that OKEx has launched a program named Happy Friday, a bonus distribution campaign that will give away 50% of its trading fee to OKB [the OKEx platform token] holders weekly. The program has distributed approximately $5 million last week. If OKEx has wash traded grossly to reach the volume that is currently displayed on CoinMarketCap, while the weekly bonus has remained at $5 million, the exchange will need to pay most of the bonus to users with its own money. Why then would OKEx create fake volume? That does not make sense to us at all. The Happy Friday campaign mentioned above is a program launched by OKEx to distribute 50% of the weekly transaction fee as BTC bonus every Friday to users holding OKB. The amount is based on the percentage of OKB the user holds. Since its launch, the Happy Friday campaign became popular among OKEx users worldwide and the mega bonus pool had at one time reached up to 2,000 BTC. OKEx, as one of the top crypto exchanges by volume, in its 24H trading volume reached $872 million on CoinMarketCap [14th, September] and $5.07 billion on AICoin [14th September], two of the most popular websites about crypto information in China. The former lists only token-trading while AICoin records the total volume including futures trading. Source: CoinMarketCap Taking the data on CoinMarketCap as the basic volume, and 0.02% [the lowest rate] as standard [which is hardly possible], the daily trading fee is $174,550, while the weekly bonus pool amount would be $610,925 [of only token-trading], which will all be distributed to OKB holders. Source: AICoin The data shown is based on the lowest rate of trading fee enjoyed by the highest-level member, and the trading volume excludes futures trading, which is the majority revenue source of OKEx. According to AICoin, the total trading volume in the past 24H is $5.07 billion, so the 24H futures trading volume would be $4,197,248,301. Assuming the trading fee rate is still 0.02%, then the daily trading fee is $839,450, and the amount of weekly bonus pool would be $2,938,075, which would all distributed to OKB holders as well. According to the data calculated above, users can get over 1,200 BTC each week from the OKEx Happy Friday campaign. At the same time, eligibility is easy to maintain as you just need to hold no less than 100 OKB to enjoy a mega bonus. As to OKB, it is a global utility token issued by OK Blockchain Foundation to connect prospective digital asset projects to OKEx users as well as professional investors, creating an OKEx ecosystem that helps to advance the development of blockchain technology and the digital asset industry. Different from tokens of other platforms, OKB has a great roadmap including but not limited to the application of programs such as Happy Friday, Global Partner, Prime Investor, OK Partner Exchange etc., as well as the world’s first index product OK06ETT. The total available supply of OKB is 1 billion, some of which will be locked up with those programs, meanwhile, the value of OKB will be added as well. 60% of the circulation amount will be given to OKEx users for community building through marketing campaigns, which enables OKB holders to enjoy various privileges and increasing the profit for the long term. *The current price of OKB is $1.23, which is near its historic low point and therefore worth the investment. For more information, click here. The post Against Fake Volume Allegation: OKEx Distributes $5M Trading Commissions to Users Weekly appeared first on AMBCrypto.
AMBCrypto

Against Fake Volume Allegation: OKEx Distributes $5M Trading Commissions to Users Weekly

However, the allegation itself is invalid for the difficulty to collect the accurate data of trading volume as a person or even media outlets, let alone exchanges like OKEx with futures trading and API transaction. What’s more, there is an important fact need to be mentioned. It is reported that OKEx has launched a program named Happy Friday, a bonus distribution campaign that to give away 50% of its trading fee to OKB (OKEx platform token) holders weekly. The program has distributed approximately $5 million last week. If OKEx has washed trade grossly to reach the volume which currently listed on CMC, meantime the weekly bonus remained $5 million; the exchange will need to pay most of the bonus to users with its own money, then why would OKEx make fake volume? That does not make any sense. The Happy Friday campaign mentioned above is a program launched by OKEx to distribute 50% of weekly transaction fee as BTC bonus every Friday to users holding OKB. The amount is based on the percentage of OKB the user holds. Since launched, the Happy Friday campaign became popular among OK users worldwide, and the mega bonus pool has once reached up to 2,000 BTC. OKEX, as one of the top crypto exchanges by volume, 24H trading volume reached $872 million on CoinMarketCap (14th, Sep.), and $5.07 billion on AICoin (14th, Sep.), the most popular website about crypto information in China. The former lists only token-trading while AICoin records the total volume including futures trading. Taking the data on CoinMarketCap as basic volume and 0.02%, the lowest rate as standard (which is hardly possible), therefore, the daily trading fee is $174,550, while the amount of weekly bonus pool would be $610,925 (of only token-trading), which will all be distributed to OKB holders. The data showed is based on the lowest rate of trading fee enjoyed by the highest-level member, and the trading volume exclude futures trading, which is the majority revenue source of OKEx. According to AICoin, the total trading volume in the past 24H is $5.07 billion, so the 24H futures trading volume would be $4,197,248,301. Assuming the trading fee rate is still 0.02%, then the daily trading fee is $839,450, and the amount of weekly bonus pool would be $2,938,075, which would all distributed to OKB holders as well. According to the data calculated above, users can get over 1,200 BTC each week from the OKEx Happy Friday campaign. At the same time, the eligibility is even easy to meet that you just need to hold no less than 100 OKB to enjoy mega bonus. As to OKB, it is a global utility token issued by OK Blockchain Foundation to connect prospective digital asset projects to OKEx users as well as professional investors, creating an OKEx ecosystem that helps to advance the development of blockchain technology and the digital asset industry. Different from tokens from other platforms, OKB has a great roadmap including but not limited to the application of programs such as Happy Friday, Global Partner, Prime Investor, OK Partner Exchange etc., as well as the world’s first index product OK06ETT. The total available supply of OKB is 1 billion, some of which will be locked up with those programs meanwhile the value of OKB will be added. 60% of the circulation amount will be given to OKEx users for community building through marketing campaigns, which enables OKB holders to enjoy various privileges and the increasing profit for long term. The post Against Fake Volume Allegation: OKEx Distributes $5M Trading Commissions to Users Weekly appeared first on CoinSpeaker.
Coinspeaker

Against Fake Volume Allegation: OKEx Distributes $5M Trading Commissions to Users Weekly

Recently, there appears allegation upon the trading volume of OKEx, a world-leading digital asset exchange. However, the allegation itself is invalid for the difficulty to collect the accurate data of trading volume as a person or even media outlets, let alone exchanges like OKEx with futures trading and API transaction. Disclosure: This is a Sponsored Article What’s more, there is an important fact need to be mentioned. It is reported that OKEx has launched a program named Happy Friday, a bonus distribution campaign that to give away 50% of its trading fee to OKB (OKEx platform token) holders weekly. The program has distributed approximately $5 million last week. If OKEx has washed trade grossly to reach the volume which currently listed on CMC, meantime the weekly bonus remained $5 million; the exchange will need to pay most of the bonus to users with its own money, then why would OKEx make fake volume? That does not make any sense. The Happy Friday campaign mentioned above is a program launched by OKEx to distribute 50% of weekly transaction fee as BTC bonus every Friday to users holding OKB. The amount is based on the percentage of OKB the user holds. Since launched, the Happy Friday campaign became popular among OK users worldwide, and the mega bonus pool has once reached up to 2,000 BTC. OKEX, as one of the top crypto exchanges by volume, 24H trading volume reached $872 million on CoinMarketCap (14th, Sep.), and $5.07 billion on AICoin (14th, Sep.), the most popular website about crypto information in China. The former lists only token-trading while AICoin records the total volume including futures trading. Taking the data on CoinMarketCap as basic volume and 0.02%, the lowest rate as standard (which is hardly possible), therefore, the daily trading fee is $174,550, while the amount of weekly bonus pool would be $610,925 (of only token-trading), which will all be distributed to OKB holders. The data showed is based on the lowest rate of trading fee enjoyed by the highest-level member, and the trading volume exclude futures trading, which is the majority revenue source of OKEx. According to AICoin, the total trading volume in the past 24H is $5.07 billion, so the 24H futures trading volume would be $4,197,248,301. Assuming the trading fee rate is still 0.02%, then the daily trading fee is $839,450, and the amount of weekly bonus pool would be $2,938,075, which would all distributed to OKB holders as well. According to the data calculated above, users can get over 1,200 BTC each week from the OKEx Happy Friday campaign. At the same time, the eligibility is even easy to meet that you just need to hold no less than 100 OKB to enjoy mega bonus. As to OKB, it is a global utility token issued by OK Blockchain Foundation to connect prospective digital asset projects to OKEx users as well as professional investors, creating an OKEx ecosystem that helps to advance the development of blockchain technology and the digital asset industry. Different from tokens from other platforms, OKB has a great roadmap including but not limited to the application of programs such as Happy Friday, Global Partner, Prime Investor, OK Partner Exchange etc., as well as the world’s first index product OK06ETT. The total available supply of OKB is 1 billion, some of which will be locked up with those programs meanwhile the value of OKB will be added. 60% of the circulation amount will be given to OKEx users for community building through marketing campaigns, which enables OKB holders to enjoy various privileges and the increasing profit for long term. *The current price of OKB is $1.23, which is near the historic low point and worth to invest. The post Against Fake Volume Allegation: OKEx Distributes $5M Trading Commissions to Users Weekly appeared first on NullTX.
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Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust

Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust Digital currency investment group Grayscale confirmed it had successfully launched its latest fund, dedicated to Stellar’s Lumens (XLM) token, in a tweet Jan. 17. Grayscale, which now operates nine cryptocurrency funds, timed the move to coincide with a change of image for its products, renaming all its […] Cet article Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust est apparu en premier sur Bitcoin Central.
Bitcoin Central

Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project

CoinSpeaker Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project Until now, everybody has been talking about Bitcoin, the most popular and widely used digital currency. However, Bitcoin is unable to process thousands of transactions a second. Researchers from the Massachusetts Institute of Technology (MIT), UC-Berkeley, Stanford University, Carnegie Mellon University, University of Southern California, and the University of Washington have decided to fix such a weakness and develop a crypto asset better than Bitcoin. The researchers are working together as Distributed Technology Research (DTR), a non-profit organization based in Switzerland and backed by hedge fund Pantera Capital. The first initiative of Distributed Technology Research is the Unit-e, a virtual coin that is expected to solve bitcoin’s scalability issues while holding true to a decentralized model and process transactions faster than even Visa or Mastercard. Babak Dastmaltschi, Chairman of the DTR Foundation Council, said: “The blockchain and digital currency markets are at an interesting crossroads, reminiscent of the inflection points reached when industries such as telecom and the internet were coming of age. These are transformative times. We are nearing the point where every person in the world is connected together. Advancements in distributed technologies will enable open networks, avoiding the need for centralized authorities. DTR was formed with the goal of enabling and supporting this revolution, and it is in this vein that we unveil Unit-e.” According to the press release, Unit-e will be able to process 10,000 transactions per second. That’s worlds away from the current average of between 3.3 and 7 transactions per second for Bitcoin and 10 to 30 transactions for Ethereum. Joey Krug, a member of the DTR Foundation Council and Co-Chief Investment Officer at Pantera Capital, believes that a lack of scalability is holding back cryptocurrency mass adoption. He said: “We are on the cusp of something where if this doesn’t scale relatively soon, it may be relegated to ideas that were nice but didn’t work in practice: more like 3D printing than the internet.” The project’s ideology is firmly rooted in transparency, with a belief in open-source, decentralized software developed in the public interest with inclusive decision-making. The core team of the project is based in Berlin. To solve the scalability problem, DTR has decided to develop the Unit-e with parameters very close to Bitcoin’s design, but many things will be improved. Gulia Fanti, DTR lead researcher and Assistant Professor of Electrical and Computer Engineering at Carnegie Mellon University, commented: “In the 10 years since Bitcoin first emerged, blockchains have developed from a novel idea to a field of academic research. Our approach is to first understand fundamental limits on blockchain performance, then to develop solutions that operate as close to these limits as possible, with results that are provable within a rigorous theoretical framework.” The launch of the Unit-e is planned for the second half of 2019. Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project
Coinspeaker

BitPay CEO Says Bitcoin Is Solving Real Problems Around the World

BitPay co-founder and CEO, Stephen Pair, has recently commented that Bitcoin (BTC) is solving several issues around the world. He said that in a press release uploaded a […] The post BitPay CEO Says Bitcoin Is Solving Real Problems Around the World appeared first on UseTheBitcoin.
Use The Bitcoin

Trillion Dollar Market Cap, Ethereum Chain Splits & Stellar Lumens Fund - Crypto News

In this video, Mattie gives you the latest bitcoin and crypto news. He talks about the ethereum chain splitting, BitGo CEO Says Institutional Money in Crypto Can ‘Easily’ Reach Trillions of Dollars, and a new Stellar Lumens fund. This is a daily segment! ----------------------------------------------------------------------------------- CHECK OUT OUR PODCAST: https://bit.ly/2sZCAiF New episode every Monday and Friday! ----------------------------------------------------------------------------------- Check out Altcoin Buzz Ladies! https://www.youtube.com/channel/UCxulvI2C9wUvvDDNS7S35fA/videos ---------------------------------------------------------------------------------- Connect with us on Social Media: Twitter: https://bit.ly/2GDAoCp Facebook: https://bit.ly/2wYksLB Telegram: https://bit.ly/2IAqDuI ---------------------------------------------------------------------------------- Looking for the best cryptocurrency wallets? Check these out: BitLox: https://bit.ly/2rWQnHa CoolWallet S: https://bit.ly/2Liy5bv Trezor: https://bit.ly/2IXrZic Ledger Nano S: https://bit.ly/2IyE3al KeepKey: https://bit.ly/2x5TlhM Read about them here: https://bit.ly/2rTdthZ --------------------------------------------------------------------------------- References: Leading Crypto Asset Manager Grayscale Launches Stellar Lumens Trust https://www.altcoinbuzz.io/crypto-news/finance-and-funding/leading-crypto-asset-manager-grayscale-launches-stellar-lumens-trust/?fbclid=IwAR2AlAU_C_8Mm9CUm2hDci0pmdW3pvLzphS-BSy888SzDptaXMeifxZgJ1I Crypto Investment Firm Grayscale Launches Fund Dedicated to Stellar Lumens (XLM) https://www.cryptoglobe.com/latest/2019/01/crypto-investment-firm-grayscale-launches-fund-dedicated-to-stellar-lumens-xlm/ Grayscale Tweet https://twitter.com/GrayscaleInvest/status/1085904356635959297?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1085904356635959297&ref_url=https%3A%2F%2Fwww.altcoinbuzz.io%2Fcrypto-news%2Ffinance-and-funding%2Fleading-crypto-asset-manager-grayscale-launches-stellar-lumens-trust%2F Grayscale https://grayscale.co/stellar-lumens-trust/ BitGo CEO Says Institutional Money in Crypto Can ‘Easily’ Reach Trillions of Dollars As Company Launches Cold Storage Trading https://dailyhodl.com/2019/01/17/bitgo-ceo-says-institutional-money-in-crypto-can-easily-reach-trillions-of-dollars-as-company-launches-cold-storage-trading/ Crypto’s Billion-Dollar Theft Problem Prompts Safer Way to Trade https://www.bloomberg.com/news/articles/2019-01-16/crypto-s-billion-dollar-theft-problem-prompts-safer-way-to-trade Ethereum Chain Splits, An Estimated 10% of Miners Stay on Constantinople https://www.trustnodes.com/2019/01/17/ethereum-chain-splits-an-estimated-10-of-miners-stay-on-constantinople Ethereum Upgrade – Constantinople Hard Fork Delayed https://www.altcoinbuzz.io/crypto-news/product-release/ethereum-upgrade-constantinople-hard-fork-delayed/ VanEck to Nasdaq: Bitcoin Market Structure Expected to Improve in 2019 https://www.newsbtc.com/2019/01/17/vaneck-to-nasdaq-bitcoin-market-structure-expected-to-improve-in-2019/ Nasdaq Tweet https://twitter.com/Nasdaq/status/1085522054559031296?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1085522054559031296&ref_url=https%3A%2F%2Fwww.newsbtc.com%2F2019%2F01%2F17%2Fvaneck-to-nasdaq-bitcoin-market-structure-expected-to-improve-in-2019%2F -------------------------------------------------------------------------------- DISCLAIMER The information discussed on the Altcoin Buzz YouTube, Altcoin Buzz Ladies YouTube, Altcoin Buzz Podcast or other social media channels including but not limited to Twitter, Telegram chats, Instagram, facebook, website etc is not financial advice. This information is for educational, informational and entertainment purposes only. Any information and advice or investment strategies are thoughts and opinions only, relevant to accepted levels of risk tolerance of the writer, reviewer or narrator and their risk tolerance maybe different than yours. We are not responsible for your losses. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence and consult the financial advisor before acting on any information provided. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
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