Coinbase Made Almost Half of its 2017 Revenue in December Alone

The exchange recently reported to investors that it made $1 Billion in revenue through 2017  
28 February 2018   874

According to an independent assessment, 43% of revenue was in December alone. Coinbase was one of the first interfaces to make Bitcoin accessible to the masses using credit cards and bank exchanges.

The exchange expected a 600 million profit for 2017 but the bitcoin run in the final weeks of the year nearly doubled that estimate. According to the New York Times, Coinbase was receiving eight times as much traffic in December as it was in June. It makes money from transaction fees. Due to this fact during the high rate of trading that went on from about Thanksgiving through to New Years, the exchange would have seen much higher profits.

However, it is not possible to repeat such success in 2018 unless there is another surge in cryptocurrency trading. Moreover, because of increasing Competition Coinbase may not see the same profits.

Coinbase is going to generate profits with a new merchant platform Coinbase Commerce which will enable vendors to accept cryptocurrencies. It will generate profit from participating merchants while encouraging the growth of cryptocurrency use, garnering fees from those transactions as well.
 

OKEx to Launch OKChain Based Decetralized Exchange

Great role in the upcoming exchange will be played by OKB coin, which will be trasfered to OKChain as soon as its development finished
22 March 2019   79

OKEx cryptocurrency exchange will launch a decentralized trading platform on its own blockchain.

Currently, the OKChain blockchain is in the final stages of development, and its test network may be launched as early as June 2019. When the OKEx blockchain becomes stable enough, it will transfer OKB to it, which will then perform the function of the native OKChain token and be used to pay commissions, as well as in its own decentralized network applications.

The primary purpose of OKChain is to launch the OKDEx decentralized exchange, where the OKB token will be used to participate in presales. In addition, project teams will use OKB tokens to pay the service fee to the super nodes of the network.

While the total volume of OKB emissions is 1 billion, 300 million tokens are in circulation today, and 700 million remain blocked. Of this number, 300 million OKB will be distributed to users through the loyalty program, and 400 million belong to the OK Blockchain Foundation and the exchange team. However, for a more efficient formation of the OKB ecosystem, the blocking period of these 700 million tokens will be extended from 2020 to 2022, writes OKEx.

In addition, OKB will be the only token to be accepted during the initial exchange offerings (IEO) on the OK Jumpstart platform, announced earlier this month. According to the company, it is currently negotiating with various projects and will soon announce the launch of the first IEO on OK Jumpstart, for which investors will be admitted who have passed personal verification and have OKB tokens in their accounts.