OKB Tallies 24% Increase But Active Addresses Fail To Keep Pace – Here’s Why

Christian Encila

Last Updated: April 18, 2023 7:04 am

3 mins read

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OKB, the native token of the popular OKX exchange, was recently sent into a frenzy after the announcement of the highly anticipated SUI tokens. As traders and investors alike rushed to get their hands on the new asset, OKB’s value experienced an unexpected surge.

However, despite the sudden spike in price, an interesting trend was noted: there was no notable uptick in active addresses during this period.

This peculiar phenomenon has left many wondering about the true drivers behind OKB’s recent surge and what it could mean for the future of this digital asset.

SUI Launch Triggers Positive Movement For OKB

Recent reports reveal that the Sui network has launched its SUI token, but with a surprising twist – instead of the expected airdrops, the tokens are now available for sale. The sale is being conducted through selected exchanges, including OKX exchange, which is offering rewards to SUI supporters.

The sale of SUI tokens has triggered a positive trend for OKB, with its price on Coingecko experiencing a modest rally of 2.2% to reach $53.49. Over the last seven days, OKB has seen a significant surge in value with a rally of 23.5%, which is promising for investors seeking to capitalize on the digital currency’s upward momentum.

Early adopters of the SUI ecosystem have the opportunity to purchase tokens at $0.03, while regular users can buy them at $0.1. Notably, OKB tokens are the accepted currency for making these purchases.

OKB Price And Volume Up, But Active Addresses Flat

Despite the remarkable increase in both the price and volume of OKB, there has been no significant upswing in the active address metric. As per the OKX active addresses metric, there was a consistent level of activity, with roughly 358 active addresses at the time of writing.

Cryptocurrencies total market cap currently at $1.22 billion on the daily chart at TradingView.com

One plausible explanation for this could be that the price rise may have been driven by institutional investors or whales with large holdings, rather than individual users. These investors may have traded OKB without necessarily increasing the number of unique active addresses on the network.

Another reason could be that users may have simply been holding onto their OKB, rather than actively trading or transacting with it. Thus, while the surge in price and volume is an encouraging sign for the OKB market, it is crucial to keep a close eye on the active address metric to assess the true health and growth of the network.

-Featured image from DailyCoin

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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