OKX has announced the listing of ME (Magic Eden) for spot trading, providing traders with new opportunities in the digital asset market. Below is the essential information regarding the listing timeline, trading rules, and risk considerations.
Magic Eden (ME) Listing Timeline on OKX
Call Auction Phase
- Period: 1:30 pm – 2:00 pm UTC on December 10, 2024
- Purpose: Price discovery before spot trading begins
Spot Trading Launch
- ME/USDT trading pairs go live at 2:00 pm UTC on December 10, 2024
Withdrawal Availability
- ME withdrawals open at 3:00 am UTC on December 11, 2024
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Spot Trading Opening Rules
To mitigate volatility risks during the initial trading phase, OKX enforces the following restrictions for the first 5 minutes:
- Market Orders: Temporarily disabled
- Limit Orders: Maximum order value capped at $10,000 USD
These safeguards ensure orderly market conditions and protect traders from extreme price fluctuations.
Risk Disclaimer
Digital asset trading involves inherent risks:
- Prices may be highly volatile or illiquid.
- Investors could lose their entire investment.
This information is for educational purposes only and does not constitute financial advice. Always conduct independent research and assess your risk tolerance before trading.
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Frequently Asked Questions (FAQs)
Q1: When can I start trading ME on OKX?
A: ME/USDT spot trading begins at 2:00 pm UTC on December 10, 2024.
Q2: Why are there restrictions during the first 5 minutes?
A: To prevent market manipulation and extreme price swings, OKX limits order types and sizes initially.
Q3: Can I withdraw ME immediately after trading starts?
A: No. Withdrawals open at 3:00 am UTC the following day (December 11).
Q4: Is ME available on other OKX products (e.g., futures)?
A: Currently, ME is listed only for spot trading. Check OKX’s official announcements for updates.
Q5: How does the call auction work?
A: The 30-minute auction matches buy/sell orders to determine a fair opening price before spot trading.
For further assistance, contact OKX support via their official channels.
Last Updated: December 10, 2024
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