OKEx to Change Spot Market Fee Calculating Procedure

The changes will affect primarily large traders - the requirements for the volume of trading for a number of levels will be increased 10 times
27 March 2019   559

OKEx announced a change in the procedure for calculating fees for the spot market traders. New rates come into force on March 29.

As before, OKEx will use a multi-level system where the amount of commissions charged depends on the trader’s trading volume for the last 30 days, measured in bitcoins.

OKEx Spot Trading New Fees
OKEx Spot Trading New Fees

The changes will affect primarily large traders - the requirements for the volume of trading for a number of levels will be increased 10 times. At the same time, commissions for makers will be reduced by a smaller amount.

Another change was the emergence of the ability to pay commissions in the margin trading of loyalty points. Now the loyalty points earned by users, which can be viewed in the “Spot Account - Loyalty Points” tab, apply to both spot and margin trading.

Fake Trading Share to Reach 68%, - FTX Global

This figure, however, is significantly lower than what Bitwise's report and the discrepancy is explained by the difference in methodology
04 July 2019   973

The exchange of derivatives FTX Global and Alameda Research conducted a study that estimated the volumes of fictitious transactions (wash trades), presumably prevailing in many cryptocurrency exchanges.

The report says that 68.6% of trading volumes displayed by CoinMarketCap are fake. This figure, however, is significantly lower than what Bitwise Asset Management announced in March.

The discrepancy between the results in almost 30% of the authors of the new study is explained by the difference in methodology. So, FTX Global is sure that Bitwise used an too strict approach to data analysis, which is why a significant proportion of real trading volumes fell into the category of fake ones.

While our methods are not foolproof, we believe they paint the most accurate picture of the true nature of cryptocurrency trading volume that anyone has made publicly available as of yet.
 

FTX Global Team

The Alameda methodology involves verifying the authenticity of data on trading volumes on various exchanges based on six different parameters, including manual verification of information and comparison of order books.

FTX Global Website
FTX Global Website

In particular, the experts found out that some sites provided data on the volumes of foreign exchanges for their own, with a slight delay in time. Other platforms used more advanced techniques - for example, they introduced large fake volumes only against the background of many smaller orders, thus trying to hide the true state of affairs.

The main purpose of these tactics is to raise the platform higher in the CoinMarketCap rating, creating a false impression of its liquidity. It also sometimes allows for the ability to charge a higher listing fee.