Okb Altcoin Demonstrates Resilience Amid Market Turmoil
Date
8/18/2023 11:00:27 PM
(MENAFN- CoinXposure)
The ongoing market decline, resulting in over $1 billion in losses on trading platforms , has been widespread.
Despite a 5.4% price drop in the last 24 hours, OKB, an altcoin affiliated with an exchange, shows consistent features that have helped it maintain its appeal.
According to data from IntoTheBlock, 97% of OKB addresses remain profitable.
The provided chart illustrates that out of 42,830 addresses holding OKB, a metric denoting profitable wallets, only about 868 are experiencing losses.
Additionally, 234 addresses are holding OKB without any profit or loss. Similar trends have led to various pessimistic theories regarding the token.
One theory suggests that limited activity or new acquisitions of the token on the secondary market could be contributing to this high profitability rate.
To validate this rate, data from CoinMarketCap reveals a substantial 165.9% increase in OKB trading volume, with $7.9 million traded in the last 24 hours.
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As an exchange-affiliated token, it's pertinent to compare OKB's profitability to established tokens like Bitcoin (BTC) and Ethereum (ETH), known for their solid communities and liquidity.
According to IntoTheBlock data, Bitcoin has managed to maintain profitability for only 49% of its total wallet addresses.
Despite the current downturn, Ethereum shares a similar sentiment, with 54.7% of active holders maintaining profitability.
A comparison of these figures reveals that OKB outperforms projects of similar size, influence, and addressable markets.
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