OKX, the Malta based world largest cryptocurrency spot and derivatives exchange recently announced to launch tick-by-tick push notifications for all the trading instruments, which allows users receive real-time price movements in all crypto markets via OKX API when making investment decisions.
It’s another technical upgrade of OKX after the launch of ticket-by-ticket push notifications for future product. As of now, only 3 leading cryptocurrency exchanges in the world have launched it, (OKX, Coinbase and Bitmex), among which, OKX offers the most comprehensive trading products including spot, futures, swap and options.
Necessity of tick-by-tick for the crypto market
The cryptocurrency market is so volatile, that timely and accurate information becomes the key to protecting the interest of investors.
Before the launch of tick-by-tick push notification, users could receive information via API every 100ms, which means investors were only able to make decisions based on the price and depth 100ms ago. When the prices change dramatically, which is very common in crypto market, it is likely to make orders fail to be approved and investors to suffer losses or miss profits.
That implies the necessity of tick-by-tick. With this feature, users are able to receive real-time information and keep up with the market without any delay to make their investment strategies more accurately and timely. It’s of great significance for every trader, especially for high-frequency trading institutions and professional investors.
Tick-by-tick is the trend
There is no doubt that trying to shorten the time difference between the information provided and reality, to offer a better trading experience is the direction of development for every exchange. As the earliest batch of exchanges to launch tick-by-tick, OKX, Coinbase and Bitmex have already set an example for the whole industry. However, the impact is much more than that.
On the one hand, obviously, many other market participants benefit from this technical breakthrough. Professional investors and institutions are able to receive timely and accurate information. Projects can manage their token better. Analysts have a new tool to analyze and predict the market as well.
It’s given that in the near future, tick-by-tick will become regular tool for the exchanges. This is exactly the leading role of industry-top exchanges in industry development, bring the whole ecosystem forward.
On the other hand, it implies that exchanges have already turned their attention to develop the basic technology. For a long time, the cryptocurrency market was flooded with endless hype or so-called model innovations and was plagued by much misconducts. Fortunately, more and more players have started refocusing on technology improvement and achieved certain breakthroughs.
Just as Jay Hao, the CEO of OKX said in a recent open letter, “putting our money where our mouth is.”
The world’s largest and most diverse cryptocurrency marketplace, OKX is where global crypto traders, miners, and institutional investors come to manage crypto assets, enhance investment opportunities, and hedge risks. We provide spot and derivatives trading, including futures, perpetual swap, and options, of major cryptocurrencies, offering investors great flexibility in formulating their strategies to maximize gains and mitigate risks.
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