OKX’s New Strategy for DEX Trading on Web3 Platform

Star, CEO of OKX, addressed the community on the X platform, emphasizing OKX Web3’s seamless DEX trading experience and commitment to genuine, long-term projects on October 2023.

This statement highlights OKX’s focus on sustainable ecosystem growth, setting a precedent for selective support, influencing meme coin project assessments and trading within its Web3 platform.

OKX Commits to Supporting Long-Term Projects on Web3

CEO Star of OKX highlighted the platform’s commitment to sustainable growth in the DEX trading space on its Web3 platform. This comes as part of an ongoing effort to prioritize projects that show serious long-term building and community investment.

Star outlined the dismissal of projects that demonstrate short-term speculative intent without genuine community engagement. OKX plans to support proven developers, enhancing the overall ecosystem health with focused weekly “Boosts” to improve offerings.

Market reactions have been mixed, with many in the developer community welcoming OKX’s commitment to long-term projects. Star’s statement reflects an alignment with other major exchanges like Binance, advocating sustainable project support.

Star, Founder & CEO, OKX, “I never thought MEME coins were a bad idea; on the contrary, they embody the spirit of the crypto community. But a true MEME requires years of building, resource investment, and genuine care for the community… X Layer will not support this scam-like MEME.” source

Ethereum’s Price Shift Amid Policy Changes

Did you know? OKX’s decision mirrors past actions by exchanges like Binance and Coinbase, supporting long-term meme projects to maintain ecosystem credibility over short-lived market trends.

Ethereum (ETH) has shown considerable movement, currently priced at $4,491.56 with a market cap of $542.15 billion and a 13.43% market dominance. According to CoinMarketCap, its 24-hour trading volume stands at $17.81 billion, reflecting a 9.67% decrease.

The Coincu research team highlights that this policy may influence how new projects shape their strategic approaches, potentially attracting developers with a focus on sustainable innovation rather than short-term gains. The emphasis on weekly “Boosts” suggests continuous evolution in trading functionalities.