OKB Joins Crypto Assets on Price Pump Following OKX Announcement
Last Updated on 5 November 2023 by CryptoTips.eu
OKB, a utility token issued by top crypto exchange OKX, has joined the list of crypto assets defying the general bearish sentiment in the crypto market. The token has jumped over 7.4% in the last 24 hours, making it one of the best performing assets among the top 30 cryptocurrencies.
Few other assets are doing the same thing, but OKB’s rally is clearly linked to a recent announcement by OKX. the announcement seems to have renewed investors’ confidence in the asset, expecting its price to soar in the near future.
OKX announces smart account
OKX earlier this week announced the launch of a new account abstraction-powered Smart Account feature on its OKX Wallet. The feature enables OKX users to pay transaction fees on multiple blockchains using USDC and USDT stablecoins.
With Smart Account, users can now interact with multiple contracts in a single transaction, OKX said in a blog post. This enhances composability for advanced users and adds convenient features for beginners, creating a more user-friendly and intuitive wallet experience, it added.
The web3 company also intends to launch more features in the future, including:
Social recovery functionality. This will enable users to select trusted “guardians” from their social network to help them recover their Smart Account if they lose their keys.
These innovative ideas are setting OKX apart and making the trading platform more user-friendly. This is expected to attract more users and by extension positively affect the price of OKB in the future, hence the growing positive sentiment around the token.
OKB performance so far
According to Coin Market Cap data, OKB has in addition to the over 6% 24-hour gain, gained over 4% in the last seven days. A look at the price chart also shows that the token has mostly been bearish, but experienced a sudden spike within the last 24 hours.
With such interesting new developments coming from OKX, the token may maintain its positive price movements for the next coming days or even beyond. Meanwhile, the general market sentiment remains bearish, which means the positive sentiment around the token must be really strong if the price is to continue going up or at least maintained at the current level.
