Thursday, December 9

Okcoin exchange has 3,000% more customers than a year ago

Key facts:
  • Demand for cryptocurrencies, ETFs and DeFi tokens grew on the Okcoin exchange.

  • Institutional investors mainly buy bitcoin.

Okcoin announced that during the last twelve months it increased its number of active clients by 3,250%. This positioning of the platform seems to respond to the increased interest of users to exchange bitcoin and other cryptocurrencies.

During last year, cryptocurrency exchange increased its daily active retail users by 2,800%, according found PRNewswire. Some of the reasons may have been the increase in value of bitcoin and the reduction of commissions that Okcoin established in March of this year through the Lightning network.

Since its founding in 2013, the Okcoin exchange has achieved around 100,000 clients with a presence in more than 190 countries. Most of its users are retail investors, although it also offers services for institutions that want to make capital movements in large volumes.

The number of institutional investors grows

As cryptocurrencies have gained more notoriety in the investment market, the demand for organizations interested in entering this ecosystem has grown. Okcoin reported that the last year had a 450% growth of corporate investors and an increase of 124% of institutional trade volume.

Demand from institutional investors for DeFi coins is growing, as they continue to dominate their bitcoin purchases on Okcoin. Source: okcoin.

The Okcoin exchange stated that older leading cryptocurrencies such as bitcoin continue to dominate institutional purchases of altcoins. Although over the last year, you have seen a growing demand for younger assets. One such example is MiamiCoin (MIA), which became the fourth most popular institutional investment in the third quarter of the year.

Globally, institutional investment in bitcoin has exceeded $ 70 billion, according to data published by Buy Bitcoin Worldwide. This sum of money is distributed in money accumulated in this cryptocurrency and also in bitcoin exchange-traded funds, better known as ETFs. In fact, in the United States, a competitive ETF price battle has begun to win the interest of large capitals.

Organizations have shown a growing preference for both stablecoins and native decentralized finance protocols (DeFi) in Okcoin. As CriptoNoticias reported, DeFi platforms have exceeded USD 20 billion in deposits this year, a figure that represents a growth of 34,000% during 2021. The largest number of investors is concentrated in Europe.