OKCoin Denies Manipulating Bitcoin Trading Volumes
The issue of trade volume authenticity on Chinese exchanges has surfaced again, with one user accusing the country's busiest exchange OKCoin of manipulating volumes after bitcoin statistics sites displayed a sharp drop in a short period. Chinese exchanges including OKCoin have been accused in the past of artificially inflating their trade volumes and even influencing prices by using in-house software 'trading bots'. The exchanges have always categorically denied this, saying high volumes are the result of their low (or absent) trading fees. Sudden decline in volume. Reddit user....
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OKCoin made company history today, when its international exchange became the world's most active bitcoin-to-dollar trading platform over a 24-hour period. The company posted a USD trade volume of 16,342.42 BTC over the most recent 24-hour period on its site, compared to Bitstamp's 14,463.93 BTC, Bitfinex's 15,552.2 BTC, and BTC-e's 6,556.18 BTC. While OKCoin has been ahead of BTC-e for the past week, it is the first time the exchange has topped Bitstamp and Bitfinex, which are commonly regarded as the world's most popular. Higher numbers on Chinese exchanges refer to BTC/CNY volumes.....
The bitcoin trading platform OKCoin is currently down and has been for more than 12 hours according to a reddit user. When visiting OKCoin.com you will receive a Cloudflare error as seen below: There has been reports claiming that the servers OKCoin uses are undergoing Emergency Maintenance due to abnormalities caused by server interruptions. For more than eight hours ago OKCoin sent out a tweet saying their platform would be temporarily inaccessible. The tweet is now creating outrage among some of their followers. Let's hope the maintenance is over soon so OKCoin's clients can access....
OKCoin, a cryptocurrency exchange that offers trades between Bitcoin (BTC), Litecoin (LTC), US Dollar (USD), and Chinese Yuan (CNY), has added margin trading to its iOS and Android apps. “In our continued efforts to build the world’s best retail and institutional blockchain asset exchange, OKCoin has added margin trading to its iOS and Android Apps. OKCoin.cn CNY users can trade on up to 5x margin while OKCoin.com USD users can trade on up to 3.3x margin. Thanks for your feedback and continued support of OKCoin. We hope you like it!” added OKCoin in a statement. OKCoin released the....
Trading volumes reported by exchanges in Asia became a talking point again over the past weekend, after some companies altered the way trades are counted on bitcoin futures markets. The latest issue arose last week when OKCoin's manager of foreign operations Zane Tackett posted a thread on reddit's 'Bitcoin Markets' page, titled "You might have noticed OKCoin futures volume experienced a sudden rise (doubled) over night, here's why". OKCoin, Tackett wrote, had noticed competitors 796.com and BitVC (a subsidiary of Huobi) were employing a counting method that regards a single bitcoin traded....
Today marks a special day: The first day that newcomer international Bitcoin exchange OKCoin.com has had a higher daily Bitcoin volume than all other exchanges. In the last 24 hours, OKCoin.com has transacted nearly 16,000 BTC, compared with Bitstamp's ~14,700 BTC and Bitfinex's ~15,100 BTC. OKCoin.com is the international arm of OKCoin. OKCoin also runs OKCoin.cn, a Chinese Bitcoin exchange that also has high volume CNY/BTC trading but does not charge fees (the Chinese norm). Whether or not OKCoin's lead in 24-hour Bitcoin volume will persist until tomorrow is anybody's guess. However, it....