- OKB price jumped to a record high, continuing the recovery that started in 2022.
- OKX will launch its OKXChain in Q1, possibly in March.
OKB crypto price continued its bullish comeback as the token soared to an all-time high. It jumped to a high of $52.72, meaning it has surged by more than 62% in 2022. While most cryptocurrencies were in the red in 2022, OKX’s native token was actually rising, meaning it has risen by over 400% from its lowest level in 2022.
OKB Chain upcoming
OKX is a leading blockchain company that is one of the biggest exchanges in the world. While it offers its services globally, OKX mostly makes its money in the Asian market. According to DeFi Llama, OKX has over $8.34 billion in assets, making it the third-biggest player after Binance and Coinbase. OKX’s clean assets, which exclude OKB, are about $8.3 billion.
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OKX has grown in the past few months, helped by its sports sponsorships and general advertising. It has partnered with teams like Mclaren Racing and Manchester City. Also, it has a partnership with the Tribeca Film Festival. OKB price has done well because of the growth of its market share over the years. As we wrote in December, OKX’s inflows have been steady.
Now, as part of its evolution, OKX announced that it will create its own chain known as OKBChain. This chain will be launched in the first quarter of the year. It is another notable step by the company as it seeks to take a market share in the ecosystem.
OKX is not the only crypto exchange to launch its own chain. For example, Binance launched BNB Chain a few years ago. Today, that network powers some of the top players in the crypto industry like PancakeSwap, Aptos, and Bitgert among others.
Similarly, Crypto.com has its own Cronos, which is used to build dApps in industries like finance and NFTs. Some of the top dApps in Cronos are Tectonic and MM Finance, among others. dYdX is also building its own chain.
OKB crypto price forecast
OKB price has been in a strong comeback in the past few months. It managed to cruise above the key resistance point at $34.24, the highest point on December 18 2021. This price was also the upper part of the cup and handle pattern. It is also being supported by the 100-day and 50-day moving averages.
Therefore, the outlook of the OKX crypto price will continue rising as buyers target the key resistance point to watch will be at $60. The stop-loss of this will be at $40.
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