Price of Crypto Exchange OKX’s Native Token OKB Surges 20%
The price of OKB, the utility token of the crypto exchange OKX, has increased dramatically today. Over 20% has been gained in the last 24 hours, with a surge from $45.29 to $54.51. There is a significant upward trend, and trade volume has increased by 328% in the previous 24 hours. OKB is trading at $53.54 at press time, and more gains are anticipated over the next several days.
OKX’s announcement of its support for the SUI token sale triggered a significant price increase. On April 23, OKX will begin selling the SUI token through a token allocation lottery on OKX Jumpstart, its flagship token sales platform.
Subscription Mechanism Over Airdrop
From April 20-22, those who have OKB tokens may exchange them for SUI tokens. There will be 225,000,000 tokens sold, and each will cost $0.01. Because of OKX Wallet’s strategic cooperation with Sui Network, users may take part in airdrops and other activities inside the Sui ecosystem.
Instead of an airdrop, many cryptocurrency exchanges, including OKX, Bybit, and KuCoin, have stated that they would offer SUI Token and provide a subscription method. Allowlisted people who make positive contributions to the ecosystem may buy SUI at a discount from a pool.
Mysten Labs, the company behind the SUI, raised $300 million in September of last year at a value of $2 billion from investors. In addition, OKX will be a major winner if Hong Kong makes strides to become a cryptocurrency center. OKX is where many Hong Kong-based institutional investors will make their initial cryptocurrency purchases.
