OKB, the local token of OKX, one of the largest cryptocurrency exchanges, closed the second week of April with a rise. Despite the bankruptcy of the central stock market FTX, the investors wondered why OKB, which continued to appreciate at full speed, was less affected by the market.
The rise in OKB price is based more on fundamentals than technical factors. In this analysis, we will examine the reasons for the rise with you.
Advantage for OCD Holders for SUI Pre-Sale!
There is a strong connection between the blockchain project Sui, which has marked the last months, and the crypto exchange. Investors who want to be included in the Sui ecosystem pay $ 0.03 per token if they hold OKB, while the other option is pre-sale at $ 0.1. Investors who want to have a cheaper SUI buy OKB tokens.
New Ethereum Layer-2 Solution: OKBChain
Exchange founder Star Xu announced that the new project called OKBChain will be an Ethereum L2 solution and will transition to zero-knowledge ZK technology via sidechains. After the news, investors showed more interest in OKB with positive expectations.
OCD Analysis
OKB, which closed the previous week with an increase of 31%, started the new week with sellers.
The OKB token, which clings to the $51.44 support at noon, could test the $58.37 peak again if it holds above this level. Otherwise, a lower support is found at $47.64.