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....
Related News
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.....
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....
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....
Rui Ma is an early-stage investor in technology companies with the global accelerator program and seed fund 500 Startups. Residing in Beijing, she is an active member of China's bitcoin community. Some bitcoiners might still remember when BTC China was the dominant bitcoin exchange in China. Well, those days are long gone. These days, newer exchanges Huobi and OKcoin regularly top the charts for trading volume. Monday, for example, their 24-hour volumes are at 106,942 and 126,973 respectively, third-place CHBTC is at 35,349, while BTC China lags far behind at 4,344. Huobi, in particular,....
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....