OKEx News

OKB Price Surges as Star Xu Rumored Free From Prison

  • OKB token price surge to over $5.
  • OKEx head Star Xu is rumored to be released from prison.
  • OKEx exchange remains closed for withdrawal.

The native token of the OKEx exchange, OKB, boosted its price recently amid rumors that its head Star Xu is out of jail.

Today, OKEx trades at a high price of $5.8, with a growth rate of 23.8% in the past 30 days. On the other hand, the OKB trading volume also increased to over $150 million.

This made Chinese blockchain reporter Wu Blockchain react in a tweet:

Looking back, Xu’s arrest in October 2020 due to finance-related matters impacted the OKB token price. As a result, the token 24-hour price declined to over 30%, from $5.9 to $4 last month. Along with the decline of the token price, the OKEx exchange closed its withdrawal option. These unexpected incidents shocked many traders, especially the people using the exchange.

Furthermore, despite the surge of the token price today in the crypto market, the OKex exchange remains closed for withdrawal. The report says OKex has not stopped following the necessary industry regulations and all its users are safe. Nevertheless, leaving the users no choice but to wait for OKex to open its withdrawal.

Regardless, OKEx continues to develop great relationships with other crypto firms. Lately, OKEx signed an MOU with crypto wallet provider Bitberry to help each other in the crypto market.

Jay Manila

A dedicated market analyst focused on the highs and lows of the cryptocurrency market. With a background in Business Administration, he tries to unfold his financial perspective to global readers.

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