The crypto market has been in a slump for a while. Prices have fallen sharply and many investors are walking away with losses. Despite this, the trading bots from the Netherlands-based exchange OKX are still managing to turn a profit. Users are particularly cashing in with the Ethereum bots.
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Automated Money-Making Machines #
Ethereum, like most other cryptocurrencies, has been through a very rough period. While the past few weeks have shown some recovery, prices remain exceptionally volatile. This makes it extremely difficult for traders to profit, but for OKX’s so-called spot grid bots, these are the perfect conditions.
These bots automatically set up buy and sell orders within a specific price range. This range is divided into so-called grids—fixed price levels at which the bot trades. If the price drops to a lower grid, the bot buys. If the price rises to a higher grid, it sells. After each order is executed, the bot immediately places a new one, as long as the price remains within your set parameters.
Every move up or down increases the chance of a grid being hit and an order being executed. So, the more the price oscillates within the range, the more trading opportunities the bot gets. The current turbulent market is therefore ideal for these bots.
You can maintain full control, or you can select a smart strategy. In the latter case, artificial intelligence (AI) analyzes historical market data and automatically suggests a suitable price range and number of grids.
The results in the OKX app speak volumes about the success of these strategies:
| Strategy | Duration | Result |
|---|---|---|
| Short-term | 7-20 days | +86.32% |
| Medium-term | 1-2 months | +95.67% |
| Long-term | 3-6 months | +9.77% |
The price of Ethereum itself can’t come close to that. It has risen by just over 23% since its low three weeks ago. If you look back a few months, you’re likely staring at painful losses.
Besides Ethereum, you can also run bots on dozens of other cryptocurrencies on OKX, including Bitcoin, Solana, XRP, Dogecoin, and PEPE.
Disclaimer: Crypto bots offer no guarantee of profit and remain dependent on market conditions.