Bitcoin Soars Amid CME Futures Announcement
On November 2, Bitcoin surged past $7,400 (~¥48,800), peaking before settling at $7,052. The rally marks a near 100% price increase since October, fueled by news of the Chicago Mercantile Exchange (CME) planning Bitcoin futures—a move widely seen as legitimizing the cryptocurrency.
Earlier, September 2021 regulatory crackdowns in China had slashed Bitcoin’s value to ~¥17,000 (~$2,600), leading to the shutdown of major Chinese exchanges (OKCoin, Huobi, BTC China). These platforms pivoted globally, with OKEX launching C2C trading as a workaround.
How OKEX’s C2C Trading Works
OKEX’s new C2C platform functions like a "digital asset Taobao," enabling peer-to-peer trades between users and verified merchants. Key features:
- Payment Methods: Bank transfers, Alipay, WeChat Pay, PayPal.
- Process: Buyers send fiat within 10 minutes → sellers release Bitcoin.
- Premium Pricing: C2C trades (~¥43,091/BTC) were 6% higher than OKCoin’s spot price (~¥40,303) during testing.
👉 Explore secure C2C Bitcoin trading
Competitor Strategies
- BTC China: Focuses on mining pools; avoids OTC trading.
- Huobi: Operates "Huobi Pro" for crypto-to-crypto trades but excludes fiat gateways. Planned KRW/USD platforms remain under development.
Market Impact
Veteran investors continue accessing global exchanges (400+ options), while C2C models attract retail investors seeking RMB-based transactions.
FAQ
Q: Is C2C trading safe?
A: OKEX’s escrow system mitigates risk—funds are released only after payment confirmation.
Q: Why the price difference between C2C and spot markets?
A: C2C reflects higher demand for RMB liquidity post-China’s exchange ban.
Q: Can I trade other cryptocurrencies via C2C?
A: Currently, Bitcoin is primary, but OKEX may expand offerings.
👉 Learn more about global crypto trends
Note: All hyperlinks removed per compliance except OKEX’s official link.
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