OKX, founded in 2017, is a leading cryptocurrency exchange with a notable presence in the crypto industry. Originally named OKEx, it rebranded in 2022 by dropping the “E” and emphasizing the “X.”

Beyond being a traditional exchange, OKX has expanded into DeFi, NFT trading, and Web3 applications. It offers advanced trading tools like futures and margin trading, making it a go-to platform for experienced traders.

Explore the data below for insights into OKX’s growth, market trends, and innovations, helping you make informed investment decisions.

OKX Market Share Percentage

The overall market share of OKX in January 2023 was 11.8%, which went up by 2.2% in December. Hence, the OKX overall crypto market share in December 2023 was reported to be 16%.

However, when calculated based on spot trading, the market share of OKX increases to 7.5%. OKX has the 4th highest market share in spot trading, just after Bybit.

OKX performed best in the derivatives trading market by taking the 2nd position just after Binance with a market share of 19.4%.

OKX Number Of Users

Since 2017, OKX has grown rapidly, it’s now the world’s second-largest crypto derivatives platform by trading volume and ranks third in spot trading volume.

The number of users on OKX in 2023 was 20 million, which expanded to 50 million in just a few months of 2024.

OKX witnessed a 150% boost in user numbers from the last year.

There’s no userbase data available for the years before 2023. Hence, from the 2024 user count, we can infer that OKX is on the path to success and is attracting users rapidly.

Year User Count
2021 Data Not Found
2022 Data Not Found
2023 20 Million
June 2024 50 Million

OKX 24-Hour Trade Volume Statistics

OKX’s 24-hour trade volume numbers fell slightly in 2023. What used to be $2.9 billion in 2022 came down to $2.57 billion the following year, recording an 11.38% decline.

Despite this slowing down, the scenarios seem to be changing in 2024. Based on the 24-hour trading volume data accumulated till June 2024, OKX is the 10th largest Crypto exchange in the world.

In the first quarters of 2024, it achieved a cryptocurrency trading volume of $2.2 billion. The rest of the year is still left to record more numbers.

The trade volume count for 2024 is yet to surpass that of 2023, but from the data, we can predict that the 24-trade volume on OKX will soon exceed $2.57 billion.

Year 24-hour Trade Volume
2022 $2.9 Billion
2023 $2.57 Billion
June 2024 $2.2 Billion

OKX Spot & Derivatives Trade Volume Comparison

When users buy or sell assets, such as cryptocurrencies, stocks, or NFT, directly at the current market price for immediate delivery, it’s referred to as spot trading.

If users create agreements with predetermined prices and quantities for buying or selling specific assets in the future, then it’s called derivatives trading.

Derivatives trading doesn’t consider current market prices since it’s regarded as future trading of crypto assets.

For OKX, in 2023, most of the trading happened in derivatives. As per the 2023 report, the volume of derivatives trade was 90.8%, ultimately leaving the volume of spot trading at 9.2%.

OKX Investments & Upcoming Initiatives

OKX crypto exchange platform doesn’t directly lead investments. Instead, its OKX Ventures subsidiary takes care of the investments.

However, OKX Venture makes extensive global investments in various crypto, blockchain, and Web3 projects. Till now, i.e., June 2024, the OKX Ventures has made 172 investments. Of these 172 investments, in 3 cases, OKX Ventures was the lead investor.

Over the past two years, OKX Ventures has distributed a USD 1 Billion fund across 300 projects across five continents.

OKX has big plans for 2024.

For instance, by the third quarter of 2024, OKX plans to launch a Smart Trading platform. If OKX succeeds, it shall become the first CeFi entity to have an AI-powered automated trading exchange

OKX Spot Fees

OKX charges spot trading fees based on a maker-taker model, where the fees differ depending on whether you add liquidity (maker) or take liquidity (taker).

The fees also vary based on the user’s 30-day trading volume (in USD) and their holdings of OKB, the platform’s native token.

Here is a general breakdown:

1. Regular Users (Tier 0):

  • Maker Fee: 0.08%
  • Taker Fee: 0.10%

2. VIP Users:

  • VIP 1 (≥ $10,000,000 Trading Volume or ≥ 2,000 OKB Holdings):
    • Maker Fee: 0.06%
    • Taker Fee: 0.08%
  • VIP 2 (≥ $50,000,000 Trading Volume or ≥ 3,000 OKB Holdings):
    • Maker Fee: 0.04%
    • Taker Fee: 0.07%
  • VIP 3 (≥ $200,000,000 Trading Volume or ≥ 4,000 OKB Holdings):
    • Maker Fee: 0.02%
    • Taker Fee: 0.06%
  • VIP 4 (≥ $500,000,000 Trading Volume or ≥ 5,000 OKB Holdings):
    • Maker Fee: 0.00%
    • Taker Fee: 0.05%
  • VIP 5 (≥ $1,000,000,000 Trading Volume or ≥ 6,000 OKB Holdings):
    • Maker Fee: 0.00%
    • Taker Fee: 0.04%
  • VIP 6 (≥ $2,000,000,000 Trading Volume or ≥ 8,000 OKB Holdings):
    • Maker Fee: 0.00%
    • Taker Fee: 0.03%

Upcoming OKX listings 2024

OKX has several exciting upcoming listings in 2024 that are generating a lot of interest in the crypto community. Some of the anticipated tokens include:

  1. Pepe Unchained (PEPU) – A meme coin built on its own Layer 2 blockchain, designed to offer faster transaction speeds and reduced fees compared to Ethereum. This project is particularly popular due to its unique take on the meme coin concept and its strong community backing.

  2. Base Dawgz (DAWGZ) – This project is a Shiba Inu-inspired meme coin that allows for cross-chain interactions, making it versatile across multiple blockchain networks like Ethereum, Solana, Binance Smart Chain, and Avalanche.

  3. PlayDoge (PLAY) – A play-to-earn (P2E) meme token that has gained significant attention, raising $2 million in its presale. It combines gaming with DeFi elements, offering staking and in-game rewards.

  4. Meme Games (MGMES) – An Olympic-themed meme coin that brings together gaming and meme culture. It offers gamified presale rewards and has the potential to attract both gamers and investors.

  5. Shiba Shootout (SHIBASHOOT) – A Wild West-themed play-to-earn Metaverse experience, this project leverages Metaverse technology to offer a range of rewards and bonuses to its holders.

  6. Mega Dice Token (DICE) – A token tied to an online crypto casino, offering daily staking rewards based on the casino’s performance. It’s part of the growing GambleFi sector.

  7. ZeroLend (ZERO) – A DeFi lending platform focused on Layer 2 solutions, offering expansive lending markets and unique real-world asset integration.

These listings are expected to create buzz and potentially drive trading volume on OKX, making them projects to watch closely throughout the year.​

FAQs

Q1. What are the most traded cryptocurrencies on OKX?

The most traded cryptocurrencies on OKX are Bitcoin, Ethereum, Tether, and Solana. More are on the list, but these four occupy the top spots.

Q2. How many cryptocurrencies are listed on OKX?

OKX’s cryptocurrency list has over 350 tokens, allowing more than 500 trading pairs to be traded.

Q3. How much does OKX charge for trading?

All the fees on OKX are divided on a market maker and taker basis.

Market makers are the ones who place the order for buying or selling assets, and takers are the entities that accept and execute the order.

For instance, on OKX, the makers’ fee for spot trading is 0.08% for regular users, while for takers, it’s 0.10% for regular users. This is the starting trading fee on OKX, which eventually decreases when the trading volume increases.

OKX also offers discounts on trading fees. However, the discount percentage depends on how many OKX native tokens a user holds.

The higher the number of OKB (OKX’s native token), the higher the discount.

Q4. Is OKX safe and Secure?

Along with usual safety measures like KYC verification, Two-Factor Authentication, Withdrawal allowlists, and multi-signature wallets, OKX has also established SAFU funds and a proof of reserve system.

The SAFU is an insurance fund that protects the users’ interests in case of emergency security breaches. A portion of the trading fees is directed towards the creation of SAFU.

Even though the exact value of SAFU set by OKX is unavailable, the niche experts estimate that the entire insurance should be around $1 billion.

Q5. OKX is available in how many countries?

Based in Seychelles, OKX has offices worldwide, including in Hong Kong, UAE, Silicon Valley, and the Bahamas. It serves users in over 200 countries, though its services are unavailable in the United States.