OKB Gains Nearly 50% In The Daily And Weekly Charts

Christian Encila

2 years ago

3 mins read

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OKB, the utility token of popular cryptocurrency exchange OKX, is defying the odds today as it continues to surge in value, even as the prices of major digital assets such as Bitcoin drop.

With a current price of $54.55 on Coingecko, OKB continues to flex its muscles with impressive gains in the cryptocurrency market. The utility token has seen a 24-hour rally of 17.1%, surprising even the most seasoned investors.

But that’s not all – OKB’s 7-day rally of 30.6% showcases its continued upward trajectory, cementing its status as a standout performer among the plethora of digital assets available.

Reason For The Rally: Strategic Partnership With Sui Network

OKX experiences a significant surge in its utility token OKB’s value, with the announcement of its support for the upcoming SUI token sale. The renowned cryptocurrency exchange plans to offer the SUI token through its esteemed token sales platform, OKX Jumpstart, via a token allocation lottery scheduled to take place on April 23.

🌊 Get ready for the Suinami 🌊

📢 Introducing the long-awaited #OKX Jumpstart — $SUI $SUI is the native token of @SuiNetwork, a Layer 1 blockchain developed by @Mysten_Labs for the next billion users 💧⛓️

🗓️ Get involved with your $OKB on Apr 20 (UTC) ⤵️

— OKX (@okx) April 14, 2023

Through its strategic partnership with Sui Network, OKX Wallet users can now access Sui ecosystem projects, participate in airdrops, and other initiatives. In preparation for the SUI token sale, users are required to hold OKB tokens from April 20-22 to be eligible for SUI token allocation. The sale price of the tokens is set at $0.1, and a total of 225 million tokens are available for purchase.

Crypto exchanges, including OKX, KuCoin, and Bybit, have all announced plans to list the SUI token and launch a subscription mechanism, instead of an airdrop. Allowlisted users who contribute to the ecosystem can purchase SUI tokens from a pool at an incredibly low price.

With such a promising outlook, it’s no wonder that the news of the SUI token sale has resulted in a rally for OKB and OKX.

OKB Surges As Major Cryptocurrencies Experience Minor Losses

As Bitcoin and Ethereum struggle to maintain their positions above $30,000 and $2,000, respectively, on Saturday morning, OKB, the utility token of OKX, has seen a significant surge in value. Despite BTC experiencing a loss of over one percent, OKB has emerged as the biggest gainer amidst the market’s minor losses across the board.

Total market cap for cryptocurrencies now at $1.23 trillion on the weekend chart at TradingView.com

While other popular altcoins like Ripple (XRP) and Dogecoin (DOGE) have landed in the negative, OKB is turning heads among traders and investors.

As the crypto market continues to experience fluctuations, it remains to be seen whether OKB will maintain its upward trajectory or if BTC and other major cryptocurrencies will rebound.

-Featured image from TronWeekly

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.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.