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OKB Token up 14%, Here's Likely Reason

Fri, 04/21/2023 - 10:51
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Godfrey Benjamin
OKX is on track to host Sui Network tokensale for holders of OKB
OKB Token up 14%, Here's Likely Reason
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OKB is expanding its inherent sentiment that it is one of the best performing exchange tokens around as it is defying gravity at a time when the prices of most digital currencies are slipping. For OKB, the 2.6% daily growth has only complemented the more than 14% uptick it is maintaining for the past week.

For reference, Bitcoin (BTC), the world's premier digital currency, is down by 9.38% for the week, while competing Binance Coin (BNB) has slipped by 8.88% and KuCoin (KCS) has lost more than 6% of its value in the week to date.

The secrets to OKB's growth are not far-fetched, and while its broader outlook stems from its strategy to ecosystem growth, the current bullish uptick is based on the latest support for the much-awaited Sui protocol mainnet launch. As announced by OKX, it will get directly involved with the sale of the Sui Token on its platform on April 23.

According to the trading platform, this support is only for users who hold OKB tokens. The obvious buy-up and green uptick in OKB is a showcase of the extent to which the OKX community is planning to join the tokensale.

OKX Burns $180 Million in OKB, Whale Alert Reports Massive Outflows to Anon Wallets

Building on OKB Chain

As an integrated ecosystem, the OKB token is on track to benefit from the innovations that are associated with the newly launched OKB Chain that was floated by the exchange last month.

OKB as a token is designed to serve as the unifying token in the ecosystem, and with more innovators likely to come build on the OKB Chain, the utility surrounding the digital token is bound to skyrocket in the near term.

The latest performance of the OKB token, which has left more than 90% of its holders in profit, is another key highlight driving the massive embrace to the digital asset. In all, OKB has all the right fundamentals to sustain its bullish growth streak in the near term.

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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.