Bitcoin
Bitcoin (BTC)
$64,236.00 0.83538
Bitcoin price
Ethereum
Ethereum (ETH)
$3,497.72 0.57323
Ethereum price
BNB
BNB (BNB)
$585.95 0.59229
BNB price
Solana
Solana (SOL)
$134.04 3.70483
Solana price
XRP
XRP (XRP)
$0.4864680 1.35346
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000182 3.59848
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000115 1.68504
Pepe price
Bonk
Bonk (BONK)
$0.0000210 4.17406
Bonk price
Bitcoin
Bitcoin (BTC)
$64,236.00 0.83538
Bitcoin price
Ethereum
Ethereum (ETH)
$3,497.72 0.57323
Ethereum price
BNB
BNB (BNB)
$585.95 0.59229
BNB price
Solana
Solana (SOL)
$134.04 3.70483
Solana price
XRP
XRP (XRP)
$0.4864680 1.35346
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000182 3.59848
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000115 1.68504
Pepe price
Bonk
Bonk (BONK)
$0.0000210 4.17406
Bonk price
Bitcoin
Bitcoin (BTC)
$64,236.00 0.83538
Bitcoin price
Ethereum
Ethereum (ETH)
$3,497.72 0.57323
Ethereum price
BNB
BNB (BNB)
$585.95 0.59229
BNB price
Solana
Solana (SOL)
$134.04 3.70483
Solana price
XRP
XRP (XRP)
$0.4864680 1.35346
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000182 3.59848
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000115 1.68504
Pepe price
Bonk
Bonk (BONK)
$0.0000210 4.17406
Bonk price
Bitcoin
Bitcoin (BTC)
$64,236.00 0.83538
Bitcoin price
Ethereum
Ethereum (ETH)
$3,497.72 0.57323
Ethereum price
BNB
BNB (BNB)
$585.95 0.59229
BNB price
Solana
Solana (SOL)
$134.04 3.70483
Solana price
XRP
XRP (XRP)
$0.4864680 1.35346
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000182 3.59848
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000115 1.68504
Pepe price
Bonk
Bonk (BONK)
$0.0000210 4.17406
Bonk price
SirWin
SirWin
SirWin

OPNX exchange slow to start in bankruptcy claims market

opnx-exchange-slow-to-start-in-bankruptcy-claims-market
Edited by
News
OPNX exchange slow to start in bankruptcy claims market

The recently launched OPNX, a bankruptcy claims exchange platform co-founded by former Three Arrows Capital executives, experienced minimal trading volume, raising questions about its customer acquisition strategy and market demand.

Open Exchange (OPNX), a bankruptcy claims exchange platform, was launched on April 5 by Kyle Davies and Su Zhu, co-founders of the unsuccessful crypto hedge fund Three Arrows Capital, along with executives from the troubled CoinFLEX exchange.

Since its inception, the platform has experienced limited trading activity, with only two transactions totaling $1.26 across all spot and derivatives markets.

In a recent tweet by ZachXBT, skepticism was expressed regarding the intentions of the OPNX platform due to the controversial background of its founders.

The reasons for the lackluster trading volume are uncertain, but as ZachXBT tweeted, nobody can seem to trust a platform that is run by past “scammers”. Still, it is not clear whether the exchange has encountered difficulties in acquiring new clients or if there is simply an absence of demand.

In contrast to other platforms, OPNX does not employ internal market makers, a choice that Davies previously stated would not impact liquidity. Zhu reinforced this decision in a tweet, explaining that the exchange is learning from the collapse of crypto exchange FTX and working on building liquidity “brick by brick.”

A notable aspect of OPNX that has yet to be implemented is the tokenized bankruptcy claim feature. This function will enable users to redeem various crypto-related claims, potentially increasing the platform’s appeal once it goes live.