On a day when the largest cryptocurrency Bitcoin retreated to $39,000 and many altcoins fell by more than 10%, the leading cryptocurrency exchange OKX’s platform coin OKB surprised investors with an abnormal price drop. OKB’s price melted by 50 percent within minutes.
OKB Plunges From $52 to $25 in Minutes
The sharp price drop in OKX’s platform coin OKB has exploded onto the crypto scene. The altcoin’s price plummeted from $52 to $25 within minutes.
The reason for the abnormal price movement is still unknown, and OKX has not yet made a statement regarding this abnormal drop in OKB’s price. However, it is observed that OKB has recovered after the drop and has started to rise towards normal levels, climbing above the $40 threshold.
Current Situation of OKB
OKX’s platform coin OKB, after dropping from $52 to $25, quickly recovered and began to rise towards normal price levels. Current data shows that the altcoin has fallen by 15.52% in the last 24 hours, trading at $45.06.
Data provided by CoinMarketCap reveals that the trading volume of the altcoin also surged following the abnormal price movement. Accordingly, OKB’s trading volume has increased by over 2000% in the last 24 hours, reaching up to $62.5 million.
