In a whirlwind of market activity, investors are witnessing an intriguing phenomenon: while the overall market is enjoying a blush momentum with remarkable gains evident in both the daily and weekly charts, OKB, the native token of the second largest exchange, OKX, seems to be bucking the trend. The token has been sliding downwards over the past few days, displaying a clear bearish momentum.
OKB’s recent performance has seen a dip in the last seven days, falling from $44.93 to a low of $42.91. Presently, the token is trading at $43.20, exhibiting a red trading pattern on both charts and indicating a tight-range trading scenario. In contrast to OKB’s struggles, altcoins such as Cardano, Solana, and XRP are flourishing, boasting double-digit gains.
The Fear & Greed Index currently registers an alarming reading of 11.03, indicating extreme fear in the market. Despite this, various technical analysis indicators have signaled bullish signals, while others have indicated bearish signals.
Looking at the past 30 days, OKB has gained a modest 4.82% increase. This fact may offer a glimmer of hope for some investors, as there is an expectation of a slight recovery in the coming month.
Market experts predict that by the end of July 2023, the value of OKB is anticipated to experience a staggering 116.24% increase, potentially reaching around $93.64.
Nonetheless, a potential recovery in the coming month and the optimistic long-term price predictions provide a glimmer of hope for investors, urging them to keep a watchful eye on the ever-changing market landscape.
OKX Wallet Enables BTC & BRC-20 Staking
Web3 technology company OKX has unveiled an exciting feature on its multi-chain wallet, allowing users to stake both Bitcoin (BTC) and BRC-20 tokens. Thanks to OKX’s innovative open-source BRC20-S protocol, users can now earn BRC20-S tokens through the OKX Web3 DeFi aggregator.
OKX Wallet’s new capability adds to its existing range of Web3 Earn products, with future plans to introduce a marketplace for trading BRC20-S tokens. DeFi developers and projects can also take advantage of the BRC20-S protocol to create staking pools on OKX Wallet, encouraging user engagement and community growth.
OKX Chief Innovation Officer Jason Lau expressed delight in fulfilling users’ requests for increased ecosystem participation:
OKX Wallet is the first multi-chain wallet that enables staking for Bitcoin and BRC-20 tokens. We have heard from OKX Wallet users that they want more opportunities to participate in the ecosystem, and we are thrilled to deliver that for them. We are constantly listening to feedback and look forward to sharing additional feature launches later this month.
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