Exchange OKEx Launches New Data Insights Platform For Derivatives

The digital asset exchange OKEx which is based in Malta, recently launched a new comprehensive data analytics platform which covers trading trends for derivatives. The new platform is viral on many best cryptocurrency news sites and comes after a press release shared with one popular site.

As the exchange OKEx noted in the press release, the platform will allow its users to see real-time data on the exchange’s futures and perpetual swap markets for nine major tokens which include the top cryptocurrencies BTC, ETH and XRP.

The platform will also provide six indicators of market trends including long/short positions ratio, basis, open interest and trading volume, buy/sell taker volume, top trader sentiment index and top trader average margin used.

As the announcement shared in the latest cryptocurrency news notes, the goal of the OKEx exchange with the platform – called Futures & Perpetual Swap Market Data – is to offer unbiased trading data for customers in order to better inform themselves and create trading strategies in the derivatives market.

The head of operations at the OKEx exchange, Andy Cheung, has commented on the release and said a couple of words on derivatives trading, noting:

“Derivatives trading requires a steeper learning curve, as it involves the use of margin and leverage. Once we realized that there isn’t really much data available in the market to help users analyze market trends, we decided to build a tool that can benefit our users. That’s why we launched this big data platform, and we are proud to say that we are the first in the industry to provide this kind of data.”

As we previously reported in our altcoin news, the major cryptocurrency platform Coinbase which has a crypto exchange and wallet service, recently began providing trading signals to its users starting on July 17. The exchange is reportedly using aggregated data to provide information on holder activity, typical hold time and popularity as well as price correlation and trading signals. These analytics purport to allow users the ability to create customized and informed trading strategies which rely on information that is beyond raw price as well as other basic market data.