OKB Price Jumps 20% as OKX Exchange Launches New OKBChain Blockchain

OKX Exchange plans to launch a new blockchain called OKBChain in the first quarter of 2023. According to the data, this chain is completely independent of the current Okxchain.

OKX Exchange Launches New Blockchain

On February 16, Xu Xing, founder of the OKX exchange, confirmed the news. It is understood that Okxchain is a blockchain that runs under the Proof-of-Stake (POS) consensus mechanism, is completely open source, and is jointly built by the community, while OKBChain is newly developed and operated by OKX. The two chains are completely independent and operate separately.

This is considered a bold move and marks a relatively reasonable new development for OKX, although the market situation is not yet prosperous. While Bitcoin price may be showing clear upward momentum above $24,700, there is not enough data to confirm a signal of a return to a healthy uptrend.

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In the past time, OKX has achieved many great achievements, such as OKX issued two certificates of reserves at the end of December 2022 after a series of FUDs on the bank’s opaque customer deposit status. Exchange, affected by FTX crash. Also, in January 2023, OKX continues to publish new asset reports, holding $7.5 billion in user funds.

OKB/USD 4H Chart | Source: TradingView

Following the announcement, the price of OKB rose dramatically, hitting an all-time high of $52.8, breaking the all-time high of $44 set a week earlier.

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according to AZCoin News

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