ambcrypto.com
The expansion of cryptocurrency utilities has been a core aim for a lot of organizations involved in the world of digital assets, mainly by integrating features that are similar to those available in the mainstream financial ecosystem.
The latest update from popular Chinese cryptocurrency exchange, OKEx, indicated that it has opened its doors to a futures trading upgrade which will be available for Litecoin [LTC], Bitcoin Cash [BCH] and XRP. The cryptocurrency exchange’s tweet read,
“The tiered maintenance margin ratio system is now available for LTC, BCH, XRP futures markets. The new risk management system will effectively minimize the risks of margin call losses & enhance the user experience of futures trading, which allows users to select 1-50x leverage.”
The organization claims that the upgrade will provide higher leverage levels for users, a feature that investors have been clamoring for a long time. The feature of margin trading has become a trend that a lot of exchanges have been trying to capitalize on, with Binance becoming the last popular exchange to embrace it. Binance had confirmed this news recently through CEO Changpeng Zhao, who during an AMA stated,
“I think most people have already seen the margin flagged added in our API so as we are working on marketing system that look that’s rolling out actually very very soon”
Futures trading has been an important aspect in cryptocurrency transactions and even though OKEx has not added its latest upgrade for Bitcoin, BTC futures were buoyed with the rise of Chicago Mercantile Exchange [CME]. The latest report from CryptoCompare’s monthly exchange showed that CME saw a significant spike of 263 percent in their average trading volumes, just in the month of April. Some experts have speculated that this ascendance in futures trading is what has forced many exchanges to take a keen look towards that sector of cryptocurrency trading.
OKEx was also in the news recently after a recent post from the exchange hinted at potential Lightning Network integration. The exchange’s Twitter handle tweeted,
“It’s about time to light up the market.”