Exchange OKEx Launches Data Analytics Platform for Derivatives Trading

Malta-based digital asset alternate OKEx has launched a brand new complete knowledge insights platform that covers buying and selling traits for derivatives.

In accordance with a press launch shared with Cointelegraph, this platform will reportedly permit OKEx customers to see real-time knowledge on the alternate’s futures and perpetual swap markets for 9 main tokens, together with the highest cryptocurrencies BTC, ETH, and XRP. 

The platform offers six indicators of market traits as follows: lengthy/brief positions ratio, foundation, open curiosity and buying and selling quantity, purchase/promote taker quantity, high dealer sentiment index, and high dealer common margin used. 

As per the announcement, the purpose of this platform — known as Futures & Perpetual Swap Market Information — is to supply unbiased buying and selling knowledge for patrons to raised inform themselves and create buying and selling methods within the derivatives market.

Andy Cheung, the top of operations at OKEx, commented that derivatives buying and selling might be significantly tough to select up:

“Derivatives buying and selling requires a steeper studying curve, because it includes the usage of margin and leverage. As soon as we realized that there isn’t actually a lot knowledge obtainable out there to assist customers analyze market traits, we determined to construct a software that may profit our customers. That’s why we launched this massive knowledge platform, and we’re proud to say that we’re the primary within the trade to offer this sort of knowledge.”

Huge knowledge analytics coming to crypto buying and selling

As beforehand reported by Cointelegraph, the foremost cryptocurrency platform Coinbase, which features a crypto alternate and pockets service, started offering buying and selling indicators to its customers on July 17. 

Coinbase is reportedly utilizing aggregated knowledge to offer data on holder exercise, typical maintain time and recognition, and worth correlation as buying and selling indicators. These analytics purport to permit customers the flexibility to create personalized and knowledgeable buying and selling methods, which depend on data past uncooked worth and different fundamental market knowledge.

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