It's the year of the ox, and many traders and investors are holding their bitcoin in anticipation of a bullish market trend.
High on-chain fees and transaction times for bitcoin can be off-putting to users, the exchange said.
Institutions and "whales" have continued their bitcoin purchases, on-chain data shows.
The real-time settlement function went live on Dec. 29.
OKEx launches real-time settlement for the trading of derivatives on its platform, allowing users to make withdrawals at any time.
Data from OKEx gives one explanation of how bitcoin whales were able to influence the market during the rallies.
The troubled bitcoin mining pool is up 181 PH/s from its 18 PH/s lows in November.
OKEx appears to suffer customer outflows after lifting of five-week withdrawal suspension, highlighting the existential threat of operational risk.
A sharp drop in OKEx’s trading volume and stablecoin reserves – tether in particular – may reveal an ongoing exodus of its users after the popular crypto derivatives exchange unexpectedly halted all crypto withdrawal activities for about five weeks.
Jay Hao pledged in an AMA that his firm has taken steps to ensure cryptocurrency withdrawals won't again be frozen because of the absence of a keyholder.
About 2,822 BTC was moved from OKEx within 15 minutes of withdrawals restarting.
The cryptocurrency exchange is reopening withdrawals five weeks after services were suspended due to a missing key holder.
Some OKEx's users in China are determined to leave the exchange despite new incentives designed to keep them.
OKEx will compensate those users who have been frustrated by its suspension of withdrawal service.
Bitcoin’s price has been up dramatically since OKEx's crypto withdrawal service suspension, yet it's not behind the price rally.