25 billion trades worth $21 trillion took place in 2021: OKEx
1 min read . Updated: 03 Jan 2022, 11:35 AM IST
Premium- The crypto exchange also said that OKEx Earn, a fixed deposit type product, saw over $5.1 billion in assets staked and locked by users, and paid out over $314 million in passive income
Global crypto investment platform, OKEx, on Monday said it processed more than 25 billion trades worth a total trading volume of over $21 trillion during 2021.
OKEx is among the top five crypto exchanges in the world in terms of trading volumes both in spot and derivatives segments. The platform, which has more than 20 million users across over 100 regions globally, saw 220 new crypto pairs listed during the year.
The crypto exchange also said that OKEx Earn, a fixed deposit type product, saw over $5.1 billion in assets staked and locked by users, and paid out over $314 million in passive income.
On predictions for 2022, OKEx.com believes that the crypto market will enter into a sustained growth phase in 2022.
On the rise of non-fungible tokens, the company said that NFTs will be an exciting space to watch. “We can expect more brands to join the NFT party to enhance customer engagement and create new revenue streams for their brand. Artisans will realize the importance of a digital marketplace for their artworks which completely removes the revenue-eating middlemen," the company said in a release.
OKEx also said that stablecoins will create a prominent place in the crypto portfolio of investors in 2022.
A stablecoin is a digital currency that is linked to an underlying asset such as a national currency such as the US dollar or a precious metal such as gold.
“They will not only act as a store value but will serve as an important asset to beat inflation. We will see the rise of stablecoins with more crypto companies launching their stablecoins to provide much-needed diversification to investors," said Jay Hao, Chief executive officer, OKEx.
On cryptocurrencies, the platform said that the market can expect a bull run in the second quarter of 2022, owing to regulatory clarity and other key economic factors surrounding financial markets.
Further, as the crypto industry evolves and investors gain more knowledge about crypto assets, OKEx believes that we will see more investments in specific coins which belong to blockchain paying a pivotal role in decentralized finance (DeFi).
