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Here's Why Ethereum Challenger ORBS Is up 60% Today

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Tue, 17/10/2023 - 16:40
Here's Why Ethereum Challenger ORBS Is up 60% Today
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Orbs (ORBS), an Ethereum challenger, is on a parabolic run, with its price up by more than 60% in what can be classified as one of its biggest trading days in months. The coin is changing hands at a price of $0.05746 but with a 289% jump in its trading volume with over $648 million traded overnight.

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The hype around ORBS is centered on the prospects behind the coin's listing on the OKX trading platform. Huobi made the announcement on its X handle, noting that the perpetual swap feature for the ORBS/USDT pair is now live. 

The exchange announced that users can now gain access to 20X leverage, with additional ORBS-focused products, including margin trading and savings, also billed for a later launch. ORBS is one of the hardest-hit tokens in the past crypto winter. The coin is still down by over 84% from its all-time high (ATH) attained about three years ago.

The current upshot is a testament to the optimism within its ecosystem and the desire to help chart a revival in usage and, in the long run, in the trading price of the ORB.

Mid-cap tokens pulling their weight

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While the most important hype in the market revolves around Bitcoin (BTC), Ethereum (ETH), XRP and Cardano (ADA), to mention a few, many low-cap and mid-cap altcoins are also charting revolutionary trends within their own ecosystem.

While Orbs is aiming at driving scalability and usability to rival Ethereum, projects like Bad Idea AI (BAD) are redefining AI-based capabilities within the Shibarium Layer-2 protocol. Other altcoins like Fantom (FTM), Chainlink (LINK) and Optimism (OP) are also arguably helping to drive the overall goal of broadening the acceptability of the broader digital currency and blockchain ecosystems.

With related support through listings such as OKX, accomplishing this mission becomes easier for these asset classes.

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