As of the end of January 2024, the monthly spot trading volume on the cryptocurrency exchange CommEX reached 185 million USDT, while futures trading hit 500 million USDT, according to Anton Toroptsev, the regional director of the platform in Russia and the CIS, speaking to ForkLog.
One of the popular segments has been the Simple Futures tool, aimed at beginners.
“Simple Futures allow for setting take orders, stop-loss, and take-profit, with leverage adjustable from 10x to 500x. The commission on take orders is 0.02%, equivalent to the VIP4 level for standard futures,” explained Toroptsev.
In January, the trading volume of simple futures exceeded 150 million USDT.
The most in-demand service among Russian investors remains P2P. The average transaction on the CommEX internal marketplace is 450 USDT, with deals since the beginning of the year totaling over 40 million USDT.
The most popular cryptocurrencies on the P2P marketplace continue to be Bitcoin and USDT, with a recent increase in demand for Ethereum.
The number of CommEX users exceeds 400,000, marking a 112% increase since early December 2023.
“As with other trading platforms, the ratio of active traders, those making at least six trades a week, is 1:10. This is a standard situation for crypto exchanges,” noted the top manager.
He clarified that about 85% of clients are from Russia. A significant portion of them have transferred deposits from Binance, although the exact number is difficult to determine.
According to Toroptsev, the launch of a Bitcoin ETF in the US indirectly influenced the influx of new users.
“Amid rumors of an imminent launch in December 2023, the Bitcoin price rose significantly, along with a growing interest from the general public in cryptocurrencies,” he added.
The timeline for migration between Binance and CommEX remains unchanged, with the process expected to take about a year. Toroptsev mentioned that their platform is developing various loyalty programs. Specifically, the exchange offers a 25% discount on trading fees for BNB holders.
“In addition, CommEX has a VIP level system with discounts on trading fees for active traders,” added the top manager.
Previously, the exchange conducted its first airdrop of 2 million bonus points, which can be used for various purposes. A special fund of 200,000 additional points was allocated for clients from Russia.
According to Toroptsev, in 2024, CommEX expects an increase in the share of users from other regions. Local teams are actively expanding their presence in the Southeast Asian and South Korean markets. The exchange’s management also noted growing interest from users in the CIS countries and Turkey.
Since January 25, CommEX has allowed all users to post ads on the P2P marketplace.