This report analyzes six well-known crypto exchanges that have been established for more than five years, focusing on their development and updates in the second half of 2024. Based on the information officially provided by these exchanges, we divided the update content into two categories: new products and functions/upgrades, and evaluated the performance of the exchanges in product upgrades of the five major services.

Futures

For futures trading, CoinW launched a new futures product, PropW, in August 2024, which marked a significant expansion of its futures product line. Other exchanges are focusing on optimizing existing futures services through a series of product upgrades, including improving order functions, adding margin modes, adding new risk management tools and upgrading trading systems.

CoinW - PropWPropW is a self-operated contract trading platform launched by CoinW, aiming to empower traders by providing virtual funds. The platform features an evaluation process – the PropW Challenge – where traders can demonstrate their trading skills. After successfully passing the assessment, traders will receive a virtual account with a balance of up to 200,000 USDT and can withdraw up to 90% of the profits generated in the virtual account (in the form of real USDT).

Features/Update Two exchanges have launched new margin models:

KuCoin launches Added cross-margin functionality to consolidate margins and increase profits across trades.

BingX introduces a multi-asset model that allows the use of multiple cryptocurrencies as margin.

Gate has added a variety of new order functions, including triggering reverse orders, simplified orders, batch orders, trailing stop loss, advanced iceberg, and time-weighted average price TWAP and track orders. BingX has also introduced the TWAP order function.

In addition, Gate launched the MMR stop-loss function for risk management; BitMart released the futures 2.0 system, which significantly improved performance and matching efficiency.

In stock

For spot trading, BingX has launched two new services: Pre-Market Trading and Xpool. At the same time, LBank has introduced LaunchPool to Expand its spot service range

BingX - Xpool and Pre-Market

Xpool: Allows users to stake cryptocurrencies and earn reward points, which can be used to acquire popular tokens that will be launched soon. At a specified exchange ratio, reward points can be exchanged for actual tokens.

Pre-Market: Provides over-the-counter trading services. Users can trade new tokens at specified prices and quantities before they are officially launched.

< p style="text-align: left;">LBank - LaunchPool

LaunchPool: Allows users to receive allocations of new tokens by holding specific cryptocurrencies and meeting certain conditions.

Features/Updates

CoinW: Launched a new spot strategy order and made a major upgrade to its App and spot rebate system.

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BitMart: Launched a new token information and introduction page, and added a user benefit function, allowing users to convert small balances into BMX.

Gate: Added new pilot area, updated new dimensions of on-chain data, upgraded chart system (supports 1-second intervals), intelligent support and resistance line functions, and average cost function

BingX: Launching Spot Innovation Zone.

KuCoin: Added margin VIP lending rate function

LBank: Optimized transaction records and chart functions Follow orders

For copy trading, CoinW and BingX have launched copy trading services specifically designed for Telegram, aiming to attract a wider user group through external social platforms. At the same time, other exchanges are focusing on optimizing the copy trading model and improving users Experience.

New product

CoinW: Telegram signal copy trading

< p style="text-align: left;">BingX: Telegram copy trading applet

KuCoin: Futures copy trading

New features

CoinW: Smart mode and profit sharing function

BitMart: Position ratio Pattern

Gate: Private mode and risk control system

LBank: One-click recommendation to follow orders

Upgrade

BitMart: Automated Professional Trader Tags

BingX: New details page

Category split: current orders and historical orders

Data indicator updates: including profit and loss (PnL), order amount, profit sharing, etc.

Trading Robot

For trading robots, Gate has launched new functions and important upgrades, further improving the diversity and performance of its trading robots. At the same time, CoinW has added two new functional supports to expand the capabilities of its trading robots. To better meet user needs

New features

CoinW: Launched Futures Martin. Geer Strategies and Commodity Trading Advisors(CTA) Robot

BitMart: Launched an automatic market-making robot for institutional users

Gate : Launched cross-exchange spread arbitrage robot

Upgrade

Gate: Upgraded super intelligence AI trading robots, robot applications, and added tracking grid trading functions

LBank: Launched spot grid trading business and optimized K-line data aggregation function

Community and others

In addition to major trading-related product upgrades, some exchanges have also optimized other types of non-trading products, such as community-oriented services, leveraging the extensive use of new media platforms Spread the word, further expand the community and attract new users. CoinW and Gate are the only two exchanges that have taken action in this area, and they have both improved their internal live streaming platforms.

Live broadcast platform

CoinW: Upgraded linkage function (trading strategy sharing) and gift function , and maintained

Gate: upgraded the entry endpoint (supports candle chart page access)