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OKB Prints Bullish Growth Amid Broader Market Rout

Wed, 12/28/2022 - 11:52
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Godfrey Benjamin
OKB coin is up 3.42% to $23.80 as broader crypto market sees freefall
OKB Prints Bullish Growth Amid Broader Market Rout
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The cryptocurrency ecosystem is experiencing a new bearish wave as the combined crypto market capitalization has slumped by 1.70% to $799.84 billion. Amid this rout, OKB, the digital currency of the OKX cryptocurrency exchange, has maintained a relatively bullish resilience.

The coin is currently changing hands at $23.80 after adding a gain of 3.42% over the past 24 hours. By comparison, Bitcoin (BTC) is down by 1.28% within the same timeframe, while Ethereum (ETH) has slumped 2.04% to $16,671.16 and $1,196.87, respectively.

With its current price performance, OKB is now ranked as the best-performing altcoin of the top 100, according to market capitalization ranking. While other digital currencies have shed the gains they had accrued over the past week, OKB has maintained relatively bullish growth momentum within that time frame. The coin has inked 5.04% in the week-to-date period.

As a representative digital currency of the OKX ecosystem, OKB has also been impacted by the harsh pangs of the crypto winter. However, its fall rate is milder when compared to other altcoins with robust ecosystems. For instance, Polkadot (DOT) has slumped by 86% over the past year, while OKB has lost just 22.1%, per data from CoinGecko.

OKX transparency paying off

As a cryptocurrency exchange, OKX has suffered from the impacts of the collapse of FTX Derivatives Exchange; however, it has been able to manage its community well.

As reported by U.Today, the exchange had issues with its withdrawals earlier this month but was able to allay all fears as it swiftly detailed the cause of the hiccups. OKX's handling of its community over time might be a good basis for the consistent positive performance of the OKB token, as marked on the watchlist of more than 70,000 buyers.

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About the author

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on, Cryptonews and Coingape, among others.