• OKB has seen an increase of 23% in the last week and 35% in the last month.
• Investors are asking if they have missed out on the gains or if the rally can be sustained.
• Despite noting that TVL in DeFi contracts on the OKExChain is low, @ayush_nfa noted that good developments could make it a hit.
The cryptocurrency space has been abuzz in recent weeks with the impressive performance of OKB, the native ERC-20 token of the OKExChain. Over the past week, the token has seen an increase of 23%, and over the past month a 35% increase. This has been despite a generally stagnant global cryptocurrency market, leading investors to ask if it’s too late to buy the token and if the rally can be sustained.
Coinbase ranks OKX as the ninth-best cryptocurrency exchange based on factors such as liquidity and volumes. This increase in the token’s value is thought to be in response to the collapse of rival exchange FTX in early November. @ayush_nfa, a trader on Twitter, has pointed out OKB’s bullish chart structure, noting that the downtrend of the token has been broken.
Despite the impressive run of OKB, @ayush_nfa has noted that the Total Value Locked (TVL) in Decentralized Finance (DeFi) smart contracts on the OKExChain is still “too low”. However, they remain hopeful that good developments in the chain could yet make it a hit.
Overall, the prospects for OKB look hopeful. The token remains competitively priced and has seen an impressive run of growth in recent weeks. However, investors should consider the low TVL in Decentralized Finance smart contracts on the OKExChain before making any decisions. Ultimately, the future of OKB looks bright, with its bullish chart structure and potential for increased TVL suggesting that its recent rally could be sustained in the coming weeks and months.