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OKX Exchange Coin went 20% Higher to $16.57 – What’s the Reason?

Should I buy OKB
Should I buy OKB

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OKX’s native token, OKB, has been on a massive upward trend and reached a price of $16.57 on Thursday (8 Sept). While the entire crypto market was up by 6% then, this may not be the sole reason behind the sudden bull run of OKB.

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More About OKB’s Price Surge

OKB’s price surge happened after the company unveiled a multi-million marketing campaign called ‘What is OKX?’ which focuses on spreading awareness about the platform. It is one of the most significant investments of the company as they look to gain crypto market shares outside Asia as well.

The bear market has continued to pile liquidity strain on the crypto exchanges, making them seek ways to attract new users and elevate trading volume. This branding campaign from OKX appears to be working out for the company, as seen from its soaring price.

By the time of writing, OKB has a price of $16.32 on CoinMarketCap and a market capitalization of $981 million.

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OKX overtakes global crypto exchanges and becomes the second largest exchange platform in terms of the trading volume. The exchange platform also aims to outperform its competitors, such as Binance, the leading crypto exchange platform.

OKX took it to their Twitter page on 8 Sept and announced that the campaign will feature some renowned names such as the manager of Manchester City F.C. Pep Guardiola, Olympic medalist Scotty James, and McLaren Formula 1 driver Daniel Ricciardo.

What is OKB

It is pretty evident from the partnerships that the company aims to expand its user base beyond the Asian market, considering the fact that 65% of the traders in Asia already prefer this cryptocurrency app. Moreover, OKX also aims to expand its staff members by 30% despite the market downfall.

Haider Rafique, the global CMO at OKX, remarked that their prime focus is to introduce OKX to a wider audience and provide investors with a better and safer trading platform. He added that OKX’s state-of-the-art technology and finances are the way to the future.

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