OKX, one of the world’s leading crypto exchanges, has recently announced its collaboration with UniSat to establish the Bitcoin BRC-20 industry standard. This partnership aims to enhance the overall robustness and reliability of BRC-20 by developing a cross-verification process for transaction indexing on the Bitcoin blockchain.
As part of the collaboration, OKX has self-developed a BRC20 ledger analysis and index library and will work together with UniSat to support double verification. UniSat, on the other hand, will become OKX’s BRC20 market data supplier and explore the exchange of BRC20 order liquidity with the exchange.
According to a tweet from UniSat Wallet, the collaboration marks the initial stride towards decentralized indexing. This partnership will allow both companies to work towards developing a more efficient and reliable transaction system that can benefit the entire industry.
This move comes as the demand for cryptocurrencies continues to rise, with more and more investors looking to invest in digital assets. With the establishment of the Bitcoin BRC-20 industry standard, the adoption of digital assets is expected to continue to grow in the coming years.
However, this collaboration between OKX and UniSat is a significant step towards enhancing the security and efficiency of the digital asset industry. It will be interesting to see how this partnership evolves and the impact it has on the industry as a whole.
OKX’s Native Token OKB Price Analysis
Despite the most recent collaboration, the price of OKX’s native token remains low and has not been substantially affected. OKB is currently showing bearish signs, as per the latest data from CoinMarketcap. The cryptocurrency is trading at $43.75, down by about 0.82% in the last 24 hours.
However, the weekly chart recorded a significant decrease of about 7%, dropping its market value to about $2.6 billion ($2,624,369,373) in the last 24 hours, with a 1.23% decline. While its trading volume has witnessed an increase of 7%, reaching $4,693,014 in the last 24 hours.
According to the price predictions, OKB’s long-term trend is bearish, and the price is expected to drop to $43.12 by 19th May 2023. In the short term, the current trend is neutral, with a slight chance of increase or decrease in the next few hours.
Related Reading | Chamber Of Commerce Backs Coinbase In SEC Showdown Over Crypto Regulations