Market Snapshot
As of May 10, the cryptocurrency market shows broad gains:
- BTC: $57,899.92 (+0.81%)
- ETH: $4,086.91 (+5.28%)
- LTC: $393.62 (+7.23%)
- OKB: $33.98 (+8.63%)
Top DeFi performers on OKEx platform:
- SFG (+75.39%)
- WGRT (+17.70%)
- TRB (+13.21%)
OKEx Chain Developments
OEC Mainnet Now Supports EVM
OKExChain has officially launched Ethereum Virtual Machine (EVM) compatibility, rebranded as OEC. The rollout occurs in three phases:
| Phase | Dates | Key Activities |
|---|---|---|
| Testing | May 10-20 | SushiSwap, Chainlink deployments |
| Voting | May 21+ | Community-approved project deployments |
| Open | Post-stability | Full ecosystem access |
CEO Jay Hao notes: "OKB and OKT will serve as 'shovels' in OEC's ecosystem, generating continuous value for holders."
👉 Explore OEC's DeFi opportunities
Ongoing Promotions
Dogecoin vs. SHIB Competition
- Vote by trading/depositing either token
- Grand prize: 1 BTC + 10 iPhone 12s (ends May 15)
Mainnet Coin Tasks
- Complete transactions to split $50,000 USDT pool
- New user bonus: Exclusive raffle (ends May 16)
Unified Account Rewards
- Trade any currency pair for iPhone 12 + $20,000 USDT (ends May 15)
XCH Listing Celebration
- Trade XCH to share $100,000 USDT + 5,000T mining blind boxes (ends May 11)
Industry Trends
Dogecoin Milestones
- Google Trends score: DOGE 56 vs BTC 48 (May 2-8)
- Market cap: $90.6B (surpassing Uber, Zoom)
- Asset ranking: #139 globally
Ethereum Growth
- Price: $4,100+
- Market cap: $474B (approaching JPMorgan/Samsung)
Institutional Moves
- UBS exploring crypto options for wealthy clients
- South Africa targeting crypto investors for tax compliance
- Terra (LUNA) confirms Amazon will accept UST payments
Regulatory Outlook
Central Bank Digital Currencies (CBDCs):
- Global competition intensifying among major economies
- China focusing on digital yuan (e-CNY) for domestic efficiency
- Cross-border CBDC applications may reshape reserve currency dynamics
FAQs
Q: How does OEC's EVM compatibility benefit developers?
A: It allows seamless migration of Ethereum-based dApps, expanding OKExChain's DeFi ecosystem.
Q: Why is Dogecoin's search interest significant?
A: It reflects shifting retail investor focus toward meme coins with strong communities.
Q: What tax implications do crypto transactions carry in South Africa?
A: SARS now treats crypto gains as taxable income—many investors remain unaware of reporting requirements.