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Wednesday, October 5, 2022
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    HomeMarketHere’s why OKB price is going parabolic and what next

    Here’s why OKB price is going parabolic and what next

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    OKB value has made a robust restoration on Friday as traders react to the corporate’s advertising and marketing incentives. The coin jumped to a excessive of $17.30, which was the best degree since August 26. It has jumped by greater than 23% from the bottom degree this month, bringing its market cap to over $990 million.

    What’s OKB and why is it rising?

    OKX is a number one change that has a robust market share around the globe. The corporate handles over $2.5 billion within the spot market every day. It additionally handles over $21 billion in derivatives, making it the second-biggest participant after Binance, which handles greater than $61 billion.

    OKB is the native token for the ecosystem. Like different centralized change tokens, OKB is used to reward holders and supply reductions to merchants. As a part of its worth creation, OKX makes use of 30% of revenue from the com[[any to buy back OKB from the 300 million that are in circulation. At the same time, they burn tokens after every three months. 

    OKB price has rallied this week after the company announced a new campaign to popularize the exchange. The new campaign is known as ‘what is OK’ and will run in some of the best-known platforms globally. In line with this, the company will use Daniel Ricciardo, Pep Guardiola, and Scotty James.

    The company hopes that the new campaign will make the brand more popular outside Asia, where it is not well known. In a statement, the Chief Marketing Officer (CMO) of the company said:

    “It is now time to introduce OKX to the rest of the world. In the current climate, investors need an exchange that delivers a safe and responsible trading platform, while also offering them a very broad range of ways to pursue their own brand of financial liberty.”

    In addition, OKX launched a new global content competition that will give YouTube and Twitter creators a chance to share $100k pool.

    OKB price prediction

    The four-hour chart shows that the OKB price made a spectacular comeback on Thursday. The token rose to a high of $17.33, which was the highest point in weeks. As it rose, the coin managed to cross the 25-day and 50-day moving averages while the MACD has moved above the neutral point. 

    The pair seems to be forming a bullish consolidation pattern. Therefore, there is a likelihood that the coin will keep rising as buyers target the next key resistance at $20.



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