OKX Announces New Platform And Partnerships; OKB Shows No Significant Movement

Opeyemi Sule

Last Updated: June 11, 2024 2:36 pm

3 mins read

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OKX Wallet has announced the launch of its new platform, Cryptopedia, and its partnership with protocols, Radiant and Marinade. This announcement would come following wide discussions about the waning influence of Binance, the world’s largest cryptocurrency exchange.

OKX Launches Cryptopedia; Partners With Radiant And Marinade

In a GlobeNewswire press release dated May 13th, 2023, OKX Wallet disclosed the launch of Cryptopedia, a Web3 learn-to-earn and airdrop platform. This new platform aims to help users easily identify and access Web3 projects and dApps. Cryptopedia will also enable users to unlock additional airdrops and gain extra rewards.

The first Cryptopedia issue, which is focused on the zkSync theme, provides users with the opportunity to receive zkSync airdrops and other related airdrops. Users will also have the chance to collect non-fungible tokens jointly created by OKX Wallet and zkSync.

zkSync is a Layer-2 scaling solution designed to enhance transaction speed and reduce cost on the Ethereum network. As the name suggests, this protocol is based on the zero-knowledge (zk) concept.

In the press release, OKX Wallet also announced its partnership with two protocols, namely Radiant and Marinade. Its collaboration with Radiant, a decentralized lending protocol native to Arbitrum and BNB Chain, will allow users to access Radiant’s lending service via the OKX Wallet plug-in and Discover platform.

With Radiant, users are able to borrow a variety of digital assets across multiple chains against their own assets on one chain.

Marinade, on the other hand, is a non-custodial liquid staking derivatives (LSD) protocol on the Solana network. Similar to Radiant, this partnership will facilitate users’ access to Marinade’s liquidity staking service via the OKX Wallet plug-in and Discover platform.

OKB Shows No Significant Price Action

The OKB coin is the utility token of the OKX ecosystem. From trading fee discounts to passive income, there are a few benefits that holders of this token get to enjoy. And it appears that the growth of the OKX ecosystem has some links to OKB price.

That said, it is somewhat too early to tell what the impact of these partnerships will be on the price of OKB. Moreover, there has been no significant price movement in the OKB market since the announcement was made.

A broader look at price action reveals that the OKB market has been moving sideways in the last few weeks. According to data from CoinGecko, the token’s value dipped by a measly 2.1% in the past seven days. As of this writing, an OKB coin changes hands at $44.82, tallying only a 2.6% price rise in the last 24 hours.

OKBUSD trading at $44.821 | Source: OKBUSD chart from TradingView

-Featured image from GetBlock.net, chart from TradingView

Opeyemi Sule

Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies.

Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi’s favorite part - in fact, far from it.

Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. “This emphasizes the intricacies of blockchain technology and the cryptocurrency market,” he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger.

When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi’s Spotify Daily Mix.

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Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that.

Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi’s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings.

Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that “whatever is worth doing at all is worth doing well.” Hence, you will always find him striving to be better.

Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment - spreading the crypto gospel to the rest of the world.

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