Author: Yue Xiaoyu

OKX After DEX suspended its service, the entire market seemed to drop a bomb, and the market development became very subtle. All forces have already appeared and began to compete for the vacant market share.

We should not only pay attention to the impact of current events, but also the changes in the future situation.

A new round of wallet war has begun.

I just didn't expect that the second half of the wallet war would kick off in this way.

1. Is the status of OKX wallet unbreakable?

OKX wallet has always been far ahead, and it is not an exaggeration to be called the smoothest wallet on the market.

When OKX DEX cannot be used, everyone knows how useful OKX DEX is.

Users themselves have to go to different chains to find DEX or cross-chain bridges one by one, as if they have returned to primitive society.

More importantly, many trading platforms and wallets are also affected, and the trading experience of a number of products has been greatly affected.

You should know that many transaction products and wallets are built on OKX OS (OKX operating system).

OKX deserves to be the infrastructure of the Web3 industry.

But you should know that OKX has invested a team of hundreds of people at any cost and several years of polishing to achieve the current product experience.

But unexpectedly, OKX's rapid development was suddenly interrupted by a hacker incident that had nothing to do with him, and he was forced to press the pause button.

At this time, OKX left a short window for competitors, and it depends on whether other competitors can catch it.

But in general, the status of OKX wallet will be shaken, but notIt will be so easy to overtake on the curve, after all, it has already accumulated a lot of technical accumulation.

2. A whale falls and all things are born!

If there is unmet demand in the market, competitive products will appear.

OKX DEX is not available, other competitors on the market have seized the opportunity to sell it all over the place.

The market competition is so cruel, "Wait for you to be sick and kill you."

Everyone wants to take advantage of this window period to quickly seize the market, but this window period is uncertain and may be short.

As a result, everyone can make efforts to seize as much market as they can.

The competitors have taken action, who will benefit in the end?

3. Will Binance Wallet ultimately benefit?

Binance wallet is backed by the largest institute in the universe, infinite bullets, and more importantly, it has a very mature public chain ecosystem BNB that controls the asset issuance end.

Wallet is a traffic entrance, and the public chain is an asset supply.

Therefore, Binance Wallet can be said to be the number one rival of OKX Wallet.

Binance wallet was far behind OKX wallet, but now OKX wallet has given a market space and development window.

Binance will naturally not miss this good opportunity, launching on-chain transactions with no fees, and founders No. 1 and CZ are working hard to promote Binance Wallet.

However, Binance Wallet still has a lot of homework to make up for on-chain infrastructure and user experience, and it depends on whether users can be truly retained in the future.

4. Will Bitget Wallet ultimately benefit?

Bitget Wallet is currently the second largest exchange wallet with user and transaction volume after OKX Wallet.

Bitget wallet was formerly Bitkeep, which was also an old Web3 wallet, and was later acquired by Bitget.

Bitget wallet has always maintained an independent APP for operation. Before, I thought that the integration with the exchange was not enough and could not fully attract traffic from exchange users; now I look at it again, I will find that this isolation of operating entities and the isolation of APPs avoids some compliance risks, but has become an advantage.

Bitget's style has always been high and has been very strong in community promotion and brand promotion, so it is also eyeing the market share of OKX wallet.

5. Will GMGN ultimately benefit?

GMGN is indeed awesome to beat dogs on the chain. GMGN can be said to be a star trading product in this cycle. It stood out from the meme coin craze and is now suspected after the meme coin craze has receded.

But it cannot be denied that GMGN is indeed amazing in the user experience of on-chain transactions, and its data analysis capabilities are also profound.

However, the problem with GMGN is that it has limited usage scenarios and limited support chains, mainly concentrated in Solana. Moreover, TG Bot products host user private keys, which are hidden security risks, which is also a point that has been criticized by everyone.

6. Will UniversalX ultimately benefit?

We must mention a dark horse in the trading market: UniversalX.

UniversalX is built by the Particle Network team. Particle Network has accumulated a deep technology in the wallet service layer before, and later expanded to the trading platform. The entry point is "chain abstraction", which can be regarded as competing from different dimensions.

This product is a full-chain trading platform in the "real sense". It can be traded with any asset on any chain, and do not consider cross-chain or Gas.

OKX DEX is essentially a transaction aggregator, helping users aggregate many wallets and DEXs on the market and complete transactions in one-stop on this platform.

When OKX DEX cannot be used, everyone started looking for DEX and cross-chain bridges on each chain. At this time, UniversalX appeared directly, bringing everyone a full-chain trading platform without cross-chain and Gas.

This is a differentiated competitive advantage in different dimensions!

Especially in the face of multi-chain hotspot rotation, UniversalX can be said to be a big killer, and users no longer need assets on each chain to store assets or urgently cross-chain.

7. To summarize,

The wallet war has entered the second half. OKX pressed the pause button, which also gave competitors some opportunities, and everyone is showing their magical powers.

Although other competitors are now beginning to expand wildly, they may not be able to withstand this huge traffic. The key is to see who has a good product experience and can ultimately truly keep the user.

OKX is now a big hit and is forced to become the first DEX to "anti-hacking". This has some impact on the direction of our entire industry: the industry's compliance path will continue to move forward.

For OKX, this time is a challenge and an opportunity.

OKX If you want to become an infrastructure like Google on the chain, it will sooner or later solve the compliance problem, which is a must-take. Then take this opportunity to clear mines in advance.

Returning is still the king.