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Tradecurve rising as OKX’s competitor

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OKX, formerly OKEx, is a blockchain ecosystem intended to bridge the gap concerning world-wide-web2 and net3. Its ecosystem gives decentralized finance (DeFi) services, and its trade was introduced in 2017. 

Having said that, with the current market turning out to be more aggressive, traders believe new tasks like Tradecurve could outperform OKX in Q3 of 2023. Tradecurve features traders many exceptional positive aspects, and as a decentralized platform, it delivers buyers with total anonymity. 

>>Register for the Tradecurve presale<< 

What is OKX?

OKX is a cryptocurrency ecosystem based in Seychelles. Its platform is used by millions of individuals worldwide. It includes multiple features such as an exchange, wallet, trading bots, and more. 

Using the OKX exchange, individuals can trade cryptocurrency, options, and derivatives. They can also utilize bots, block trading, and OKX Earn, which covers staking. In addition to its exchange, OKX offers a unique DeFi launchpad to help support new startups, a non-fungible token (NFT) marketplace, and several decentralized applications. 

The OKX wallet supports over 30 networks, including Bitcoin, Ethereum, Solana, Avalanche, Polygon, and more. At the same time, more than 350 cryptocurrencies can be traded through the OKX exchange. 

However, OKX has one flaw: it’s a centralized ecosystem. As a centralized ecosystem, OKX is prone to regulation and makes users pass know-your-customer (KYC) checks before trading. 

This inconveniences investors. With regulation becoming more strict, could cause OKX to lose its user base to competitors like Tradecurve. 

Tradecurve could become a top decentralized exchange

Tradecurve is a hybrid exchange with a smaller ecosystem than OKX. However, its unique platform lets investors trade assets anonymously while offering traditional instruments.

Users can trade stocks, Forex, commodities, and more using crypto as collateral without revealing their identity. No KYC checks are required to use Tradecurve, and the platform is compatible with external wallets such as Metamask. 

Furthermore, Tradecurve also provides new investors with a smooth introduction to cryptocurrency. Its metaverse trading platform helps new investors understand the basics of trading, building their knowledge to a point where they can develop their trading strategies.

In addition, investors can choose from two exclusive subscription options. One of them is an AI-powered trading bot, which is suitable for investors who have limited time.

The second is a copy trading subscription. With copy trading, investors can study trades made by top traders and learn from their strategies. Both of these can be purchased at a discount for TCRV token holders. 

The Tradecurve ecosystem has its token called TCRV, which offers benefits to its holders, such as discounts, bonuses, and staking opportunities. During its presale, TCRV has already increased by 80%. Some experts compare it to the successful Binance initial coin offering (ICO), indicating the possibility of further gains in future sessions.

For more information about the Tradecurve presale:

Click here for the website

Click here to buy TCRV presale tokens

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OKX’s regular monthly reserves report reveals about $11.3b in crypto holdings

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Crypto exchange OKX, a nicely-regarded trade, has revealed its eighth consecutive month to month report on proof-of-reserves (PoR). The report reveals the balances of BTC, ETH, and USDT held by OKX, totaling a important amount of $11.3 billion.

According to the report, OKX has taken care of a reserve ratio of above 100% for eight months. The PoR report incorporates different property such as USDC, XRP, DOGE, SOL, OKB, APT, Sprint, DOT, ELF, EOS, Etc, FIL, Connection, LTC, OKT, Persons, TON, TRX, and UNI, in addition to BTC, ETH, and USDT.

BTC, ETH, and USDT demonstrate reserve ratios of 103% each and every, indicating that OKX holds much more reserves than the volume of cryptocurrencies owned by its end users.

OKX prioritizes offline cold storage for its reserves to improve safety measures and mitigate on the internet vulnerabilities and potential assaults.

Lennix Lai, Main Commercial Officer of OKX Worldwide, emphasized the great importance of safety, transparency, and belief in OKX’s operations. Lai certain consumers that OKX would keep on to conduct standard PoR audits to keep transparency and permit impartial validation by consumers.

OKX ideas to launch a PoR report each thirty day period, and in April 2023, the trade introduced a self-audit tool that utilizes zk-STARK engineering. This instrument enables customers to verify OKX’s solvency when protecting their privacy.

https://www.youtube.com/view?v=fqYIM_zpOec

With in excess of 210,000 addresses produced as aspect of its PoR initiative, OKX will allow the community to check the circulation of belongings. End users can accessibility the most current PoR report on the committed web-site, check reserve ratios, and independently confirm OKX’s solvency.

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OKX’s most the latest PoR reveals $8.9b in asset

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Crypto exchange OKX has posted its sixth evidence-of-reserves (PoR) report. The company begun this technique in November 2022 with the intention of raising the degree of openness in just the sector immediately after the FTX collapse.

OKX reportedly controls the network’s $8.9 billion in bitcoin (BTC) as of the most the latest edition. The reserve ratios for bitcoin, ETH, and USDT are 103%, 103%, and 102%.

This most recent release also comes as the exchange has improved its PoR process by publicly generating complete liabilities (the complete sum of consumer deposits) offered.

The new transparency mechanism that produced the entire sum of user deposits available to the public nonetheless maintains user privateness, even nevertheless it designed the present-day sum of user deposits obvious to the general public. This is achieved by splitting and shuffling account liabilities in the tree applying a option regarded as splitting leaf nodes.

Lennix Lai, running director of World Institutional at OKX, advised Cointelegraph that extra than 300,000 people have examined the reserves or confirmed their obligations within the OKX ecosystem.

In accordance to Lai, OKX, whose former reserve audits have been achieved with quite a few issues, will incorporate zero-understanding proof to our Proof of Name in the course of the upcoming number of months.

https://www.youtube.com/look at?v=PtusZF39bko

Due to the fact the FTX disaster, various cryptocurrency exchanges, together with Binance, Crypto.com, and Bybit, have posted Merkle-Tree-based verification proofs to maintain the industry’s track record for trustworthiness.

For the duration of the FTX concern, numerous cryptocurrency exchanges, notably Binance, Crypto.com, and Bybit, have developed verification proofs dependent on Merkle Trees to continue to keep the industry’s status for trustworthiness intact.

With the failure of Silicon Valley Lender (SVB), a lot more transparency in the financial sector has develop into an even extra widespread matter of discussion. 

Standard finance is distinguished from cryptocurrency in that proof of reserves may perhaps give consumers authentic-time, on-chain verification of reserves and liabilities working with transparent technologies.

On the other hand, traders were being warned with regards to PoRs by the Community Corporation Accounting Oversight Board (PCAOB), a watchdog group in the United States that oversees audits of community firms. These reviews, in accordance to the board, “do not give any significant assurance to buyers or the general public.”

Even with this, businesses running in the cryptocurrency marketplace continue on their makes an attempt to boost their transparency. Binance enhanced its Evidence of Reputation system on February 10, now supporting zk-snarks.

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Binance annual revenue grew 10x over the past 2 years, while OKX's grew 4x

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Binance‘s and OKX‘s annual revenue grew 10x and 4x over the past two years, respectively, while Huobi’s quarterly revenue fell by -98% since the second quarter of 2021, as reported by CryptoQuant.com.

Binance

Binance’s quarterly revenue started to grow exponentially in 2021 and maintained its growth throughout the year. The exchange’s annual revenue reached around $12 billion in 2022.

Binance quarterly revenue

However, the exchange’s trading volumes started to fall at the end of 2022, which also lowered the estimated quarterly revenue. In December 2022, Binance lost 90,000 Bitcoin (BTC) from its reserves in a single week. According to data from Jan. 9, the exchange saw $12 billion worth of withdrawals in the previous two months. The exchange’s trading volume also hit its two-months low on Dec. 23, reaching $9.39 billion.

OKX

According to CryptoQuant, OKX’s revenue recorded 4x organic growth over the past two years.

Burned OKB and volume

The exchange burns its native token OKB or repurchases them based on spot trading fee revenue. The burned OKB tokens recorded an increase of 600% in 2021, increasing from $12.5 million to $87.5 million. The token’s spot trading volume also recorded a parallel growth, reaching almost $3 billion on January 2022.

Huobi

In the meantime, Huobi Global’s quarterly revenue has been recording a steady decrease since April 2021.

Huobi Global’s quarterly revenue

In April 2021, the exchange recorded $1.25 billion in revenue, only to drop below $250 million by 2022. Based on the data, the exchange is expected to come even closer to zero in quarterly revenue by 2023.

The exchange decided to retreat from China in November 2021, even though it was the dominant exchange in the Chinese market at the time. In October 2022, Huobi’s founder sold his shares, which corresponded to 60% of the company. On December 2022, the community was informed that Huobi was struggling with the winter conditions and could start layoffs.

Even though Huobi’s CEO denied these claims on Jan. 2, the exchange said it was planning to lay off 20% of its staff on Jan.6. On Jan.5, over $60 million worth of crypto left Huobi’s reserves within 24 hours. On Jan.9, Huobi Korea announced that it is separating itself from Huobi Global to become an independent entity.

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