OPNX, founder Su Zhu: "Tracking future growth despite initial trading volume of only $1.26 on first day of launch"

Three Arrows Capital co-founders Su Zhu and Kyle Davies have made a comeback after the bankruptcy of 3AC. In January this year, they launched an exchange called "OPNX" on the CoinFlex exchange, specializing in debt trading of a series of bankrupt platforms for users. However, the trading volume on the first day of its launch was extremely low.

OPNX's First-Day Trading Volume Only $1.26

According to CoinDesk's report, OPNX had a trading volume of $1.26 on its first day, with only two trades executed.

The CEO of OPNX explained that the lack of liquidity was due to the exchange not having internal market makers and not prioritizing external market makers. They plan to launch a marketing campaign to attract liquidity.

Upon further investigation, it was found that the trading volume of OPNX has increased to $114.21 at the time of reporting.

OPNX Not Authorized by Bankrupt Platforms

As reported earlier, OPNX has not yet launched debt trading and only offers spot and contract trading. The bankrupt exchanges have not granted OPNX the authority to trade debts, posing potential risks.

OPNX Development History, Operational Status: 3AC Founder Debt Trading Platform "OPNX" Launched! Expected to trade debts of FTX, 3AC, and Mt. Gox

Su Zhu did not comment on the platform's low trading volume, but he seems confident in the platform's future growth. He retweeted the report and emphasized how much growth there could be after the initial $1.26 trading volume.

Additionally, he mentioned in a tweet that the first debt token launched is in partnership with the exchange Coinflex, representing personal debt owed by Bitcoin.com founder and Bitcoin Cash supporter Roger Ver, named rvUSD.

will track gains here 💪

— Zhu Su 朱溯 (@zhusu) April 5, 2023