OKB, the native token of the OKX Exchange, has recorded substantial gains today in a bearish crypto market. The utility token saw a price surge of 4.63% on the day, registering a local high of $20.80. It also surged over 11% on its weekly chart, joining the likes of Toncoin and Trust Wallet Token to lead the market in gains.\u00a0<\/p>\n
There\u2019s no major catalyst for OKB\u2019s surge on the day. However, a 20.32% uptick in its trading volume suggests that users have been quite busy. It might have something to do with the exchange\u2019s announcement<\/a> of adjusting the position tiers of its perpetual swaps and futures.<\/p>\n Furthermore, OKX joined the likes of Binance to announce a recovery fund for projects struggling with liquidity. This comes after popular crypto exchange FTX ran into liquidity issues that saw it lock users out of their funds. The exchange\u2019s announcement was a major factor in OKB\u2019s weekly price surge.<\/p>\n Earlier this week, OKX announced its intentions to establish a $100 million project ecological support plan. According to the tweet, OKX will work with OKXChain and OKX Demo Day on the project. OKX intends to assist high-quality projects currently struggling with issues like liquidity. The cryptocurrency exchange believes it\u2019s essential to help projects migrate seamlessly. Furthermore, it plans to offer qualifying projects financial, ecological, and technical support to help them overcome the hurdles.\u00a0<\/p>\n Binance announced<\/a> a similar venture on Monday after FTX\u2019s debacle pushed the crypto market downward. The world\u2019s largest crypto exchange plans to use its recovery fund project to help longstanding successful projects recover from liquidity issues.\u00a0<\/p>\n Justin Sun, the creator of Tron, and Huobi, a cryptocurrency exchange, endorsed Binance\u2019s recovery fund. According to Justin Sun<\/a>, it will assist developers and builders in overcoming the issue. In addition, Simon Dixon, the largest shareholder in Celsius, intends to contribute to the fund to revive the sector. After OKX\u2019s announcement on November 15th, the OKB token surged 8.74%. It has continued its climb since then, pushing the token to a new weekly high.<\/p>\n OKB\u2019s price is currently trading at $18.77. | Source: OKBUSD price chart from TradingView.com<\/a><\/p>\n The price of OKB has increased by 4.63% to $20.68 in the last day. This maintains the upward trajectory it has been on for the previous week, rising from $18.5 to its present price by 11.39%. The coin\u2019s all-time high is $44.01, a 53.17% rise from its current market price.<\/p>\n The chart displays<\/a> the price volatility and movement for OKB over the previous week. The Bollinger Bands in gray represent the volatility of its weekly price changes. The greater the bands\u2019 width or the size of the gray area at any given time, the greater the volatility.<\/p>\n OKB\u2019s trading volume has surged 20.32% in the last 24 hours, indicating high trading activities. The token has also held its ground against Bitcoin and Ethereum. As of writing, OKB had gained 4.66% and 4.67% against the top cryptos, respectively.<\/p>\n Featured image from Pixabay and chart from TradingView.com<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n OKB, the native token of the OKX Exchange, has recorded substantial gains today in a bearish crypto market. The utility token saw a price surge of 4.63% on the day, registering a local high of $20.80. It also surged over 11% on its weekly chart, joining the likes of Toncoin and Trust Wallet Token to lead the market in gains.\u00a0<\/p>\n There\u2019s no major catalyst for OKB\u2019s surge on the day. However, a 20.32% uptick in its trading volume suggests that users have been quite busy. It might have something to do with the exchange\u2019s announcement<\/a> of adjusting the position tiers of its perpetual swaps and futures.<\/p>\n Furthermore, OKX joined the likes of Binance to announce a recovery fund for projects struggling with liquidity. This comes after popular crypto exchange FTX ran into liquidity issues that saw it lock users out of their funds. The exchange\u2019s announcement was a major factor in OKB\u2019s weekly price surge.<\/p>\n Earlier this week, OKX announced its intentions to establish a $100 million project ecological support plan. According to the tweet, OKX will work with OKXChain and OKX Demo Day on the project. OKX intends to assist high-quality projects currently struggling with issues like liquidity. The cryptocurrency exchange believes it\u2019s essential to help projects migrate seamlessly. Furthermore, it plans to offer qualifying projects financial, ecological, and technical support to help them overcome the hurdles.\u00a0<\/p>\n Binance announced<\/a> a similar venture on Monday after FTX\u2019s debacle pushed the crypto market downward. The world\u2019s largest crypto exchange plans to use its recovery fund project to help longstanding successful projects recover from liquidity issues.\u00a0<\/p>\n Justin Sun, the creator of Tron, and Huobi, a cryptocurrency exchange, endorsed Binance\u2019s recovery fund. According to Justin Sun<\/a>, it will assist developers and builders in overcoming the issue. In addition, Simon Dixon, the largest shareholder in Celsius, intends to contribute to the fund to revive the sector. After OKX\u2019s announcement on November 15th, the OKB token surged 8.74%. It has continued its climb since then, pushing the token to a new weekly high.<\/p>\n OKB\u2019s price is currently trading at $18.77. | Source: OKBUSD price chart from TradingView.com<\/a><\/p>\n The price of OKB has increased by 4.63% to $20.68 in the last day. This maintains the upward trajectory it has been on for the previous week, rising from $18.5 to its present price by 11.39%. The coin\u2019s all-time high is $44.01, a 53.17% rise from its current market price.<\/p>\nOKX Announces Project Recovery Funds, OKB Starts Bullish Run<\/h2>\n
How OKB Has Faired During The Week<\/h2>\n
OKX Announces Project Recovery Funds, OKB Starts Bullish Run<\/h2>\n
How OKB Has Faired During The Week<\/h2>\n