OKCoin USA, the United States affiliate of OKCoin, has expanded to 20 other states after previously only being available in California since launching in July 2018. In California alone, OKCoin USA was generating USD 700,000 of trading volume per day, about BTC 1,000, and now those volume numbers should climb since OKCoin USA will be available to potentially millions of other Americans.
OKCoin USA will now be available in Alaska, Arizona, California, Colorado, Idaho, Illinois, Indiana, Kansas, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nevada, New Jersey, Tennessee, Texas, Utah, and Wisconsin. This represents a massive expansion, but there is a long way to go until OKCoin USA is available for the entire country.
Coinbase continues to be the largest crypto exchange headquartered in the United States, with Coinbase Pro generating over USD 100 million of volume per day, and this doesn’t include all of its volume. However, Coinbase had practically no competition for years, and OKCoin USA is one of its biggest so far.
There is potential for OKCoin USA to grow to the size of Coinbase or exceed it, especially considering that OKCoin was one of the biggest crypto exchanges globally before it was forced to shut down in China following the Chinese yuan (CNY) to crypto trading ban in 2017. OKCoin is now coming back to life though, instead of being headquartered in China it is proliferating internationally. Additionally, OKEx is one of the top crypto exchanges in the world with volume often in the USD 0.5-1 billion range per day, and is closely related to OKCoin since they were both started by Star Xu.
It is good news for United States crypto investors, traders, and enthusiasts that Coinbase now has some real competition, rather than a practical monopoly as it was before. Coinbase and OKCoin USA are going to be drastically and persistently improving their services, in terms of limits, fees, and support, as they fight for their share of the USA market.
Additionally, Huobi has entered the United States with HBUS in August 2018, and it are already seeing USD 1.7 million of trading volume per day. This increases competition even further, makes the situation even better for crypto traders in the United States.
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