The crypto market has been experiencing an unfavorable trend today, with the performances of leading currencies showing no improvement. While OKB demonstrated positive changes when it switched from bearish to bullish status.
The native token of OKX, a cryptocurrency exchange located in the Seychelles, OKB, earlier today showed optimism in both the daily and weekly charts, rising by roughly 7% and 15%, respectively.
According to data from CoinMarketcap, OKB is currently trading at $23.81, up about 5% over the past day and 11% over the last seven days. However, during the past 24 hours, its trading volume has significantly surged by approximately 66%, indicating high trading activities.
The last few months have been difficult for most cryptos, who’ve had to fight through the hardships of winter to stay afloat and additional effects from the FTX collapse – but there are some exceptions who’ve managed to thrive through it all.
One of these currencies is OKB, which can be seen from the chart below from Tradingview that its price value has increased by around 600% in the previous three months. The token’s price rose from a three-month low of 14.44% in September to a high of $23.89 in November.
However, data from CoinMarketcap shows that it is still 46.35% low from its All-Time High price of $44.17 on May 3rd, 2021, almost two years ago. Nevertheless, the token’s price is expected to end the year 2022 at $24.
OKB Price Driving Factors
On December 15th, according to a press release, OKX began accepting deposits for FLOKI. Additionally, it was stated that FLOKI withdrawals would start on December 17th and that spot trading for FLOKI/USDT and FLOKI/USDC on OKX would begin on December 16th.
The Floki Ecosystem, which is named after Elon Musk’s Shiba Inu, uses FLOKI as its utility token and as the general public’s coin. It has strategic marketing alliances with Formula 1 teams and well-known international football clubs.
Additionally, OKX Earn announced the beginning of flexible and 60-day staking offers for six well-liked coins. The six tokens are SHIB, DOGE, BABYDOGE, KISHU, MANA, and DOME. However, the deals started from today.
Staking rewards at a glance:
The news from December 14th that Nametag has announced a $2 million seed round co-led by GSRV and OKX Ventures, with participation from Coinbase Ventures, Alchemy Ventures, Continue Capital, and others, was another factor propelling OKB’s price growth.
With the help of these funds, Nametag will continue to further its aim of enabling people to take control of their digital identities and engage in novel ways.
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