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OKB’s price has increased by 25% in the last 24 hours, bringing the price to $20.35, which is a 30% increase in the last seven days. The utility token is benefiting from the growth of its associated OKX exchange, which has launched many new products in recent weeks and months, including block trading.
In addition to the new services, OKX has also announced a number of new listings, including Aptos (APT) and Tamadoge (TAMA). The exchange is also likely to benefit from the volatility of the crypto market in general, where exchange tokens are usually seen as a ‘safe haven’ for traders.
Why this crypto coin remains so high today
OKB’s current level also indicates that it has risen 30% in the recent basket, with indicators showing strong momentum. The relative strength index (purple line) has jumped from below 50 to 75 in a few days, indicating strong buying interest.
Meanwhile, the 30-day moving average (red line) is crossed with the 200-day average (blue line), indicating a breakout. So looking at the chart, OKB should rise sooner or later, especially to the low levels of early September.
Why is this the case? This is due to the OKX exchange, which has benefited from organic growth in recent weeks and months. And of course, as the exchange grows, so does the associated utility token.
Besides being one of the largest exchanges in the world (based on volume), it has also launched a number of new features and services. Including the new block trading feature (especially for large trades), which went live this summer and is now driving massive volume.
It has also opened up new markets for new coins, including margin trading (and swaps) for TerraClassicUSD (USTC). In addition, a number of popular new altcoins such as APT and TAMA have been added to the exchange.
OKX has particularly benefited from the rebranding that took place in January earlier this year, where changed the name from OKEx to OKX. At the same time, they focused on new products and features, in addition to marketing deals (eg with Man City FC) that helped them with brand awareness.
It is also important to point out that exchange tokens like OKB grow extra during market turbulence. For example, last week when the market fell after the Federal Bank raised interest rates again, causing most major coins to lose.
Now that the market is gradually turning, OKB can benefit from traders having an interest in safe investments. This is reinforced by the fact that Binance coin (BNB) is also up 21% in the past week, easily outperforming the rest of the market.
Notably, BNB is only 49% below its record high, while OKB is 53% below its ATH. Unlike coins that are not tied to an exchange, such as Bitcoin (BTC) and Ethereum (ETH), which are 70% and 67% below their ATH.
This shows that exchange tokens like OKB offer a bit more protection during uncertain periods. What also helps is that large exchanges like OKX are one of the few companies in the crypto market that are growing and actually important.
Therefore, OKB will likely outperform other coins, some of which need nothing.
OKB’s growth in the last 24 hours is not enough to reverse last year’s overall losses (like any other major coin). And it’s unlikely to return to its former glory until the market can get back on its feet.
Until then, investors looking to make big gains should look at other options. An example of such an opportunity is altcoins that are currently in pre-sale and have not yet been added to exchanges. Presale crypto projects are currently very popular and profitable.
Currently, there are three of these coins that are very promising based on fundamentals and the speed at which they have attracted early investors.
Dash 2 Trade (D2T)
First and foremost, we have Dash 2 Trade, an Ethereum-based trading intelligence platform that provides novice and experienced traders with real-time analytics and social data to help them make better investment choices. It started the token sale about 2 weeks ago and has already raised more than $4.7 million, in addition the token will be added to its first CEX; Lbank Exchange.
Visit Dash 2 Shop Now
Another platform based on Ethereum is IMPT, a carbon credit marketplace where users can trade and earn NFT-based footprints – which you can use to shop at a variety of climate-friendly retailers. By using the blockchain for the carbon credits as NFTs, the transactions can be better tracked, which will solve many major problems in existing carbon markets.
The pre-sale of IMPT has already 12 million dollars raised within weeks of the project launching, making it one of the most popular sales in crypto right now.
Visit IMPT now
Another fresh pre-sale is Calvaria (RIA), a game to earn money where players can compete and earn with NFT-based trading cards. What makes this blockchain game unique is that users can join the game without cryptocurrency, which can make it easier for outsiders to move into the crypto world.
The presale has already raised more than $1.3 million and has just entered the 4th phase where you can get 40 RIA for 1 USDT.
Visit Calvaria Now