four new partnerships to provide increased value for OKB holders. Beyond discounted fees and preferential access to high-quality Jumpstart projects, OKB holders can now glean even more real-world utility using OKB at more than 70 designated merchants and service providers.

The latest partnerships include the well-known trading bot platforms HaasOnline and Cryptohopper, where OKB holders can earn a one-time passive income with interest as well as discounted service fees on both platforms. With the most advanced crypto trading bots available, OKB holders can also automate their trading strategies based on more than 130 technical indicators and candle patterns.

OKB has also formally joined forces with its first smart contract platform, MyWish, to accept its token as payment. MyWish makes smart contracts more accessible to OKB holders who can use OKEx's adopted token as a payment tool for services on the platform. 

Finally, the popular decentralized exchange Saturn Network has listed the OKB token on its DEX, allowing OKB holders to take part in the growing DeFi ecosystem as well as trade and swap OKB with other cryptocurrencies on Saturn Network with their wallet.

"Growing the OKB ecosystem is essential in gaining a high degree of its utility," said OKEx CEO Jay Hao.

"OKB is a true global utility token and, as it continues to forge new partnerships, it provides its holders with even more real-world utility and ways to spend it outside of the OKEx exchange."

So far, OKB has a total of more than 70 global partners providing high-quality services, including payments, trading platforms, wallets, financial services and lifestyle.

About OKEx

A world-leading cryptocurrency spot and derivatives exchange, OKEx offers the most diverse marketplace where global crypto traders, miners and institutional investors come to manage crypto assets, enhance investment opportunities and hedge risks. We provide spot and derivatives trading - including futures, perpetual swap and options - of major cryptocurrencies, offering investors flexibility in formulating their strategies to maximize gains and mitigate risks.

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2%, and Stellar jumps an impressive 27% over the last 24 hours.

The Office of the Comptroller of the Currency (OCC) is now permitting US banks to use stablecoins and run cryptocurrency nodes, as revealed in a newly published letter.

Banks will be able to use public blockchains to record and settle payments using stablecoins, with the OCC highlighting the benefits for cross-border transactions.

JPMorgan continues to increasingly embrace Bitcoin, setting a new long-term price target of $146,000 for the cryptocurrency as it begins to rival gold.

Contrary to this long-term prediction, the firm does not think that a further gain will be sustainable on Bitcoin’s current bull-run and that short-term advances into the $50,000 to $100,000 will not hold.

Popular cryptocurrency exchange OKEx has officially launched its very own OKExChain mainnet today, making 10 million native OKT tokens available to the community.

OKEx users will be able to earn OKT by staking their OKB exchange tokens, with no minimum or maximum limits on how much OKB can be staked.

and OKEx’s primary goals for the project?

We have spent three years designing and developing OKExChain to ensure that it upholds blockchain technology’s core qualities of openness and decentralization. Throughout this period, it has undergone many iterations on the testnet. For example, we have expanded the ecosystem through hackathons and partnerships, committed to open-source, and realized OKExChain’s liquidity mining farm module, among other developments. This was all done to ensure our commitment to provide a robust open-source chain with high performance. One that can support the development of large-scale commercial dApps – without sacrificing decentralization. 

OKExChain is specialized in trading and, upon completion of its fourth phase of rollout, will allow for an entire ecosystem of Ethereum-compatible DEXs and trading-based dApps. During phase one, which lasts two weeks starting from 31st December 2020, the OKT token, OKExChain’s native token, will be minted. In the second and third phases, we will continue ongoing testing and development to ensure mainnet stability and reliability and, in the final phase, the smart contract virtual machine will be enabled, which will make OKExChain compatible with all projects on Ethereum. 

The OKT token powers the OKExChain ecosystem and will provide holders with benefits such as voting rights, discounted fees, and staking privileges for decentralized exchanges and other DeFi applications built on the network. The initial issuance is 10 million OKT and OKB holders are invited to gain first access by staking their OKB tokens to receive OKT. They can stake and withdraw their stake at any time to maximize the value of their invested capital.

What does it mean for OKEx to reach this milestone after three full years of development?

It is a huge milestone for OKEx. We have invested a significant amount of resources and commitment into bringing the world’s first open-source, trading-focused chain to the mainnet. We are very proud to uphold decentralization and make the chain open, borderless, and ultimately interoperable and EVM-compatible. OKExChain is the embodiment of our commitment to contribute to the development of the financial system of the future and we are thrilled to have reached this point. 

We’re also excited about giving back to OKB holders by giving them first access to the OKT token. They have been instrumental throughout the development of OKExChain and this is our way of saying thank you. 

And what does this mean for the cryptocurrency industry?

At OKEx, we believe that it is the duty of all cryptocurrency industry participants to collaborate to grow the space and roll out the tools and products necessary for mass participation/adoption. As such, we do not believe that there will be just one chain but a need for many competing yet complementary chains that work together to achieve that goal. We are helping to advance the space with the world’s first open-source and decentralized trading-focused chain. This will allow for the wide-scale creation of DEXs and other associated dApps taking advantage of high performance and a robust and secure chain to build on. 

Can you share any stories about the challenges you faced over the years?

The constant challenge is keeping up with changing needs and expectations, creating and rolling out a product before it has already become redundant in the market. We were already steadfast in ensuring decentralization on OKExChain and the massive growth and popularity in DeFi this year highlighted the importance of this. We had to iterate many times and, I think, another of the greatest challenges is achieving high performance without sacrificing decentralization – and understanding how much and how quickly you can achieve it without pushing the limitations of the underlying technology too far.

What was the reason for ten different iterations?

OKExChain has been in development for just under three years. Over this period, the purpose of OKExChain has shifted in line with industry developments and technological innovations. We were very clear on the need to ensure a high degree of decentralization as the question of governance took on more and more importance. With each different iteration, we made significant improvements to the chain, such as incorporating EVM compatibility, improving the voting mechanism, reducing trading fees, and improving TPS. We uphold a commitment to excellence at OKEx and were not willing to move to the mainnet until we were completely sure of offering a game-changing and highly focused product that can contribute to and improve on the current ecosystem. 

Can you explain the phased rollout process and why that strategy was chosen?

A phased rollout process makes sense in an industry that moves at a breakneck speed. This will allow us to continually iterate and develop inline with industry demands and changes as well as ensure that upon launch completion, the product is as robust and high-performance as possible.

How can users mint OKT through the OKEx Jumpstart?

For a two-week period that began on 31 December 2020, users will be able to stake their OKB on the OKEx platform and generate OKT tokens. OKT will be issued proportionally to OKB holders and they can stake and or withdraw it at any time to maximize capital flexibility. There is no minimum or maximum staking limit per person.

What incentives are users offered to hold OKT tokens?

OKT tokens come with immediate benefits and utility for holders. As the native token of the OKExChain ecosystem, holding OKT grants voting rights, staking privileges, and transaction fee payment for decentralized exchanges and other DeFi applications built on the network. OKT is also designed to have a halving cycle like bitcoin. This takes place approximately every 36 months, imparting scarcity and token value appreciation over time.

How does OKT compare to other industry tokens?

Compared to other exchange tokens, say, Huobi HT or Binance BNB, OKT is very different in that it is a new token for OKExChain, rather than using the existing native token of the exchange. This means that the entry of new nodes is not prohibitive and we can increase the level of decentralization.

What sets the OKEx DEX apart from other similar platforms?

OKEx DEX brings several advantages to users beyond being noncustodial and highly secure. Thanks to the iterations we made on the testnet, we have been able to significantly reduce trading fees unlike the high costs on other platforms. OKEx DEX also boasts of facilitating high-performance trading for users to enjoy a more seamless experience with lower fees when trading on OKEx DEX.

Compared to public blockchains like Ethereum, OKExChain provides a dedicated infrastructure for trading DApps and DEXs. This translates into lower costs for developers deploying their trading DApps which, in turn, leads to lower trading fees for users.

How do OKT and OKExChain fit into the broader DeFi landscape?

We hope to fuel the development of an alternative financial system through the launch of OKExChain. By concentrating the chain on a trading niche and making it EVM compatible with very high performance, we aim to be a very attractive platform for DEXs and similar applications. This means that we can help overcome some of the existing pain points in DeFi such as scalability and network fees while upholding decentralization.  

How important do you think DeFi will become over the next several years, and why?

At OKEx, we firmly believe that DeFi is the crypto industry’s future and that it has the potential to supplement the traditional financial industry and achieve the goal of #FinanceAll. We have already seen amazing innovation with the entire construction of an alternative system centered around borrowing and lending, with extremely low barriers to entry and a viable alternative for storing value and making a passive income. This can only grow in protagonism over the next few years as people are aware of the pitfalls with traditional finance and come to realize that they can avail themselves credit, transact, and increase their wealth without gatekeepers. As DeFi matures and attracts more interest from institutions, we will see the sector take off in earnest as real-world assets transfer to the blockchain and traditional finance is forced to adjust and improve. 

Are there any DeFi projects out there that OKEx drew inspiration from? For OKExChain?

There are many DeFi projects that have caught our admiration from Chainlink’s decentralized oracles to Compound’s borrowing and lending platform, Polkadot’s focus on interoperability, and Uniswap’s ability to attract liquidity. We have collaborated with many projects in this sector to assist in their visibility, to allow users to earn and stake their tokens, to launch our own secure price feed – OKEx Oracle, and to inspire us in the development of OKExChain. Essentially, we work to tackle the same existing issues of liquidity, scalability, interoperability, and adoption. Making OKExChain EMV-compatible is essential to allow dApps built on Ethereum to easily migrate to our platform as well as improve the user experience and grow the space.

How do OKT and OKExChain compliment OKEx’s growing list of financial products and services?

Over the years, the crypto space has grown and different types of participants have emerged. Not all want to custody their cryptocurrency holdings and utilize centralized providers. While many people in the space enjoy trading and speculating on crypto assets, others like to HODL and others, still, see the benefits in earning a passive income on their digital assets and accumulating wealth in more risk-averse ways.

OKEx has grown up to accommodate these differing needs and OKExChain seeks to further the growth of DeFi and provide an excellent robust platform for DEX and dApp developers as well as token holders. OKExChain allows us to satisfy the needs of crypto market participants wanting a decentralized experience without just being a mere extension of the OKEx brand.

Disclaimer: The information presented here does not constitute investment advice or an offer to invest. The statements, views, and opinions expressed in this article are solely those of the author/company and do not represent those of Bitcoinist. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, Bitcoinist does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.

platform from list top 20 best trading platform. however, OKB Token is ERC-20 Token created on top of Ethereum Blockchain and this token gives benefit and offer for OKEx Platform users.

OKB was introduced in may 2019 with quarterly burning program, where 30% of Supply burn in order reward transaction fees to the users. Then since, august 2019 user started getting discount on transaction fees. in 2020, OKchain finally launched test where 700 million un-issued tokens was burned and achieve first fully circulating token platform.

In February 2020, OKB finally begin leverage trading with saving options. Right now, OKEx nearly having more than 25 million customers over 100+ countries and along with daily trade of $1 billion USD.

OKB enter into the market in May 2019 with trading price $1.60 USD with under entity cryptocurrency token with is founded by OK Foundation with the help of Ethereum Blockchain network, as after Binance who was trading company later they launched Binance Coin to get advantage turning their registered user into their own coin, so with similar fashion Okes which one of a popular trading platform under the same founder has OKB Token which is available in their portal, as due to this OKB started gaining popularity in very less time and even before completing one year of its launch this cryptocurrency already reaches to 29th position in sorted by market cap value by beating most highly demanded coins such as Ontology, BAT and Dogecoin as this coin was one of key cryptocurrency of 2018 but they was not able to Hold their position and OKB able to capture their position in the market.

2020 was great so far for OKB because in this year they already reach to all-time highest price record with $7.28 USD recorded on 16th February 2020 after this date we have seen all cryptocurrency was dropped with huge percentage and most possible reason behind this is a coronavirus which impacting each and every country economy with a shutdown, now talking about growth percentage in which OKB was still looking strong so far because from $2.68 to $7.28 USD in less than one month with 171% growth rate which may be the highest growth from top 50 highest market cap holder list, so this sudden hype is noticeable for many top investors and also OKB they not steadily receiving transaction in their network and hopefully this coin may perform better in future so following that we predicted below figure which can be considering sudden growth and drop with high percentage.

Shinobi Capital is one of the biggest investment firms was reaching at OKB token in which they have predicted that OKB in 2020 will be hiked by more than 1500% and that will break all the record, as after reaching 172% OKB again down as if there is one price moon has expected to come then that can help them to reach up to 600% growth and the reason behind this unexpected entry of coronavirus in 2020.

So with crossing $8 USD mark as per prediction and we have double the price in new year OKB Prediction looks stronger than another coin so as per logic it is near about $16 USD, but that not easy to reach this price, as this prediction will achievable when they got more number of transaction un year 2020, as well as OKB, has to be on the 25th position along with this they need to upgrade their current network which also includes faster transaction, smart contact and reduces bugs in the system, as total supply and calculating supply having more than 50% difference so expecting price on the moon for sole OKB coin not possible if recovery from coronavirus is faster than other coins that will really help them to dominate in 2020 market and with this OKB token will cross all-time highest record and reaches to new heights.

OKB in 2025 will comes into a condition of a shortage supply of token where OKB will be started with huge percentage, as this previously happened in December 2017 and January 2018 where Bitcoin was crossed $20k USD, as OKB was not launched that time so this coin was never experiencing this price on the moon phase, so following that OKB will cross $30 USD mark in 2025 and if they maintain their momentum till 2030 then OKB is very close to crossing $50 USD mark and that will milestone to be profited OKB into one of the best cryptocurrency to invest in the market.

Yes, probably next year.

Possibly reaching $30 USD mark.

Yes, since its launch it following bullish trend.

OKEx was launched in 2014 and with the experience in crypto asset they started building their own blockchain project with OkChain to launch utility token OKB. We know Binance Coin and Huobi Token, which has similar concept as OKB and those got huge success in the previous few years. so, being most growing platform in crypto asset exchange OKEx may help OKB to enter into top 30 crypto by market cap volume.

looking for a squeeze-out while OKB, the native token of the digital assets exchange OKEx, is still struggling. Litecoin [LTC] Source: via TradingView The seventh-largest cryptocurrency in the market has been trading steadily upwards, mounting a strong recovery since the collective fallout of the previous month. After dropping to a low of $29.85, LTC bounced off its support and began trending in a rising wedge. , priced at $43.95 at the time of writing, is still over $20 short of its price at the beginning of March. The resistance levels for the coin lay at $53.72 and $57.96, respectively. The Bollinger Bands for the altcoin pointed to a gradual decline in volatility as the bands were moving closer, while the average line was observed to be still below the price. The recent rumors around North Korean dictator Kim Jong-un’s health have caused cryptocurrency investors to fear a sell-off. The hermit kingdom is to have $670 million in foreign and cryptocurrencies. In fact, a by Recorded Future suggests that North Korea, in addition to mining Bitcoin, has mined two altcoins – Monero and Litecoin. Tron [TRX]  Source: via Trading View The sixteenth-largest cryptocurrency on the market, like Litecoin, has been trading in a rising wedge, although with a larger incline. After bouncing off its support at $0.0085, the cryptocurrency broke another long-term support at $0.012 and was heading up at the time of writing, as per the charts. On the eve of the March crash, TRX was trading at over $0.016. If the aforementioned trend continues, it will break the same in the coming weeks. However, a move out of this wedge and the price could trickle downwards. The MACD line for the moved over the signal line back in late-March, at a time when the recovery began. The same was over 0, at press time. Tron was in the news recently after on 27 April, Samsung announced its support for decentralized applications or DApps developed on the network. OKB  Source: via Trading View The native token of the cryptocurrency exchange has been trading in a tighter spot, when compared to the aforementioned altcoins. OKB has been stuck since 22 April in a descending triangle, with the price declining from a high of over $5. had its immediate support at $4.83, a level which forms the base while a trendline can be seen from as low as $4.76, which the coin crossed on 24 April. The squeeze, however, will look to manifest next week, based on the altcoin’s price trajectory. The Relative Strength Index for the coin has been declining since 24 April, a time when it was over 70. At press time, the RSI had dropped to its press time value of 46.34. OKB’s parent exchange, OKEx, was in the news after it overtook BitMEX in terms of Open Interest on Futures exchanges, with the exchange now accounting for the largest percentage Open Interest among all top derivatives exchanges in the market. Related Topics: Aakash is a full-time cryptocurrency journalist at AMBCrypto covering primarily the US market. A graduate in Finance and Economics, his writing is centered around regulation and institutional investment within the cryptocurrency space. He is also an aspiring triathlete.

Bitfinex. Bitfinex will also list USDK, which is a stablecoin co-developed by OKLink, a blockchain technology company, and Prime Trust, a registered Trust Company based in Nevada, US (Read more). The nine new trading pairs will officially open on Bitfinex from 10am, June 13, 2019 (UTC), including USDK/USD, BTC/USDK, ETH/USDK, USDT/USDK, EOS/USDK, OKB/USD, OKB/BTC, OKB/ETH and OKB/USDT.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190612005718/en/Empowering OKExs ecosystem, OKB allows OKEx users to perform various tasks such as setting up an OKEx partner exchange, settling trading fees, and subscribing for new tokens on the token sale platform OK Jumpstart. With multiple use-cases, OKB has been capturing more market share over the months, according to the data revealed on CoinMarketCap.OKB, the native token of OKEx, is currently operating in the Ethereum Network (ERC20). Later this year, it will be migrated to OKChain, the blockchain which OKEx has been developing. And now, it is at the final testing stage.We aim to foster a new economy with blockchain technology. To achieve de-intermedium and financial inclusion, we do not work as an isolated island. We believe the key to prompt the market growth requires teamwork, which is the reason for us joining forces with other leading industry players to spark new chemistry, said Andy Cheung, Head of Operations of OKEx. OKB being listed on Bitfinex is just the beginning, it marks the recognition of our native token and platform from our peers, and we will continue to explore further opportunities in all-kinds of collaboration with other industry players. We never rest on cultivating a fair and transparent trading market and welcome partners with similar mindset to work together.Please stay tuned to OKEx's Twitter for latest updates.ENDAbout OKExOKEx is a world-leading digital asset exchange headquartered in Malta, offering comprehensive digital asset trading services including fiat-to-token trading, spot trading, and derivatives trading to traders globally with blockchain technology. Currently, the exchange offers over 400 token and futures trading pairs enabling users to optimize their strategies.View source version on businesswire.com: fer ChowJennifer.chow@okex.comVivien ChoiVivien.choi@okex.comSource: OKEx

exchanges in the world, but you may not recognize it if you live in the U.S., Hong Kong, or or one of the other nearly 20 countries it doesnt service. This Malaysia-based exchange (originally started in China under OKCoin) has a wide selection of trading pairs and is consistently listed in the top three exchanges by trading volume. OKB is the native cryptocurrency token of the OKEx platform.Originally created in China in 2014, the OKEx team is headed by CRO Tim Byun, COO Andy Cheung, and Director Lennix Lai. It quickly expanded by allowing futures trading, spot trading, loans, and a variety of other advanced strategies. The company reports over $1.5 billion worth of BTC futures traded on a daily basis alone.Things havent been all rosy, however, and you dont get to the top without a target on your back. OKEx was widely derided by critics for being involved in wash trading. Lai acknowledged the accusations with Crypto Briefing and explained that the exchange is testing a lot of advanced security features to detect and mitigate suspicious trading. Still, its a beloved platform in crypto, and the 2019 launch and further development of its OKChain blockchain mainnet is furthering the love. This new proprietary blockchain would remove OKB from its current status as an Ethereum ERC-20 token and enable decentralized exchanges on a DEX hosted on the blockchain itself.Its also joining Binance in funding and incubating blockchain-based startups and developing projects through its OKNodes and OK Jumpstart programs. Its also securing partnerships like Caspian, a full-stack crypto trading and risk management platform.Lets take a look at OKBs performance on the cryptocurrency market as the company continues expanding its already-impressive pool of trading partners.OKB Token Cryptocurrency SummaryTheres a total supply 1 billion OKB with 300,000,000 on the market and another 700,000,000 locked until 2022. The peak price of OKB so far was $5.28 on June 19, 2018.Of the 700 million OKB withheld:100 million is allocated to early investors,200 million is allocated to the founding team,100 million is allocated to the OK Blockchain Foundation, and300 million is allocated for community rewards.As of 2019, OKB is an ERC-20 token. A token swap is expected to conclude by the end of 2020. It is a utility token, much like Binance Coin (BNB), and 50 percent of service fee earnings (see below for further fee breakdown) from trades is distributed to OKB hodlers in proportion to individual balances.Holding OKB also entitles you to voting rights, the ability to invest in OKEx-incubated projects, trade on OKDEx, and more.Over $100 million worth of OKB is traded on a daily basis, and major trading pairs include USDT, BTC, and ETH. While the vast majority of OKB is traded on OKEx, its also traded on BKEx, Coinall, DragonEX, and BitMax.The OKEx has its own wallet, although OKB can also be stored (for now) in any ERC20-compatible cryptocurrency wallet, including MyEtherWallet, Trust Wallet, and hardware wallets from Leder, Trezor, and Archos.Ok, Why Two Exchanges?Theres a lot of confusion surrounding the differences between OKCoin and OKEx, especially since both markets are essentially owned/operated by the same organization. The main difference is the types of services offered. China has a complicated financial system for cryptocurrency companies (especially exchanges) to operate in. The government is notoriously bearish on crypto (or tech in general) projects it doesnt like, and a lot of popular brands are banned in China.OKCoin had to create offshore subsidiaries to remain competitive in crypto while still complying with regulations. So essentially OKCoin is a fiat/crypto exchange that supports legacy bank accounts and financial payment tools. This is the consumer bridge to crypto as currency, so think of OKCoin as more akin to a bank.OKEx, on the other hand, is more like Wall Street markets, with futures and spot trades occurring between strictly digital assets. Its a market that supports everyone from day traders to noobs and long-term hodlers looking to buy coins to keep with the expectation of returns down the road. Theres a lot more risk involved in these trades, as we learned when a long position on Bitcoin futures cost the rest of the community over $400 million in late 2018.With these entities separated, the team and general vision can still be accomplished. If this sounds shady to you, its no different than what banks and investment firms in companies like the U.S. do. Bank of America is involved in collateral loans (i.e. mortgages), investments, deposit accounts, etc. When it wanted to be involved in insurance, it did so through the Balboa Insurance subsidiary it bought from Countrywide after the foreclosure crisis. When I leaked documents in 2011 showing how force-placed insurance (aka collateral protection insurance) is a scam, BofA immediately sold Balboa so it could continue operating away from government scrutiny. A few years later, Wells Fargo got hit with massive fines for the same shady insurance practices on auto loans.The heroes and villains in my story, OKEx, or crypto in general are a matter of opinion and perspective.Lets OKExchange NumbersWhat matters most in a crypto exchange (besides it being accessible in your country) is the cost. OKEx uses a volume-based maker/taker fee structure. As you trade more within a 30-day period, your level rises, and you get discounted fees. Heres the chart:As mentioned above, paying fees in the native OKB token provides discounts.OKEx has over 170 tokens listed so far with over 550 available crypto trading pairs. The introduction of its own blockchain mainnet and decentralized exchanges will be a great addition to services that already include:OKPool Join mining pools to min SHA256, Ethash, Scrypt, X11, and Blake256 PoW coins like BTC, ETH, LTC, DASH, and DCR.Prime Investors Sophisticated investment firms with at least 500,000 OKB gain early investment access to emerging projects. Prime Investors include VenturesLab, GBC Capital, and Linkvc.OKNodes Build your own push-button cryptocurrency exchange hosted on OKExs network and share the profits.As it continues building, we should see even more services pop up.SummaryOKEx is one of the largest cryptocurrency exchanges in the world, even if its not accessible to U.S. users in 2019. Still, it manages a large volume, and the team has aggressive expansion plans to ensure it stays profitable for the foreseeable future. So long as it can remain secure and transparent, itll sustain on these key features.OKEx allows traditional trading pairs, along with derivatives and other advanced trading techniques. An upcoming OKDEx will solidify its offerings.OKB provides a service fee discount, profit sharing, voting rights, and the ability to invest in projects incubated by the OK Blockchain Foundation.OKEx has several blockchain incubators focused on growing startups. Its also partnered with a variety of businesses to remain nimble in the coming years.With these pieces in place, OKEx is a formidable presence in cryptocurrency. So long as it remains compliant with global financial policies, both the exchange and crypto in general are sure to remain valuable for at least another generation.DISCLOSUREAuthors at Crypto Briefing are invested in cryptocurrencies. The author of this post may be invested in digital assets mentioned here.Latest NewsDecentralization Advances, One Giant Corporation At A TimeCoinbase Makes Surprise EOS ListingTRON Reveals New BitTorrent File SystemNEO Price Analysis NEO / USD: Parabolic AscentArk Price Analysis ARK / USD: Not Enough JuiceBrian Penny is a former Business Analyst and Operations Manager at Bank of America turned whistleblower and freelance writer. In addition to Crypto Briefing, you can find his work focusing on financial regulations on Fast Company, Forbes, Huffington Post, and his blog, Thought for Your Penny.JOIN OUR COMMUNITY!Join the conversation onTelegramandTwitter!RELATED ARTICLESWhat Is GSENetwork? Introduction to GSE TokenBrian Penny - What Is GSENetwork?The GSENetwork is a decentralized trust network that tokenizes and tracks user interactions with smart devices on the blockchain. Trust is built...Read moreWhat Is SingularityNET? 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tomorrow, June 13th, at 10:00 am UTC (12:00 pm GMT+2). Meanwhile, the LEO token will be listed on the OKEx exchange.The Bitfinex AnnouncementOKB trading will be available against USD, USDT, ETH and BTC. Whereas, as far as USDK trading is concerned, it will be available against USD, USDT, ETH, BTC and EOS.OKB is the native token of the famous OKEx trading platform, which according to CoinMarketCap is currently the largest exchange in terms of trading volume only behind the giant Binance.Currently, the OKB token is using the Ethereum blockchain but it is expected to be transferred to the mainnet, called OKChain, in July 2019.USDK is a stablecoin anchored to the dollar value which was launched by OKLink just a few days ago, on June 3rd. The launch took place in collaboration with Prime Trust, the same company behind the TrueUSD stablecoin.LEO TOKEN will be listed on OKExAlmost as if to return the favour, the OKEx exchange, also on June 13th, will list the LEO token on its platform.UNUS SED LEO (LEO) is the native token of the Bitfinex platform that allows traders to save on exchange fees.LEO tokens holders will get 15% off on crypto-to-crypto trading on Bitfinex. In addition, traders will benefit from an additional 10% fee discount if they hold more than $5,000 in LEO tokens on their account.This is the second big exchange that lists the LEO token after ZB.com. Even though this exchange is unknown to many, it is actually a rather important platform in the Asian market, given the daily trading volumes, which are close to 700 million dollars.Bitfinex seems to welcome the news very positively and in the announcement defines it as another important step for the growth and adoption of LEO.

Coin, UNUS SED LEO, and OKB—also suffered from the sell-off seen across the global financial markets. However, the bullish momentum behind these altcoins seems ready to resume. Over the last two weeks, Binance Coin has been contained within a parallel channel. Each time BNB rises to the top of the channel, it drops down to hit the bottom of the channel, and from this point, it bounces back again. These are the primary characteristics of a channel. Although this type of technical pattern makes the price action of an asset extremely predictable, it does not provide a clear outlook about when or where the breakout will take place. For this reason, trading within parallel channels poses high levels of risk. As a result, the range between the $11 support level and the $13 resistance level can be considered a no-trade zone. A candlestick close above or below this area will be the catalyst for the next major price movement. A similar outlook is given by the Bollinger bands on BNB’s 12-hour chart, which appear to be squeezing. Squeezes are indicative of periods of low volatility that are typically followed by periods of high volatility. The longer the squeeze, the higher the probability of a strong breakout. A sudden spike in demand for Binance Coin could allow it to close above the upper boundary of the channel and its 50-twelve-hour moving average. Such a bullish impulse could push its price further up to test the next level of resistance around $17. This is where the 200-twelve-hour moving average sits. Meanwhile, closing below the lower boundary of the channel at $11 would likely allow the bears to profit. If this support level fails to hold the price of BNB, then it would likely continue to drop to try to find support around the 61.8% and 78.6% Fibonacci retracement levels. These demand barriers sit at $10.4, and $9.5, respectively. During the recent meltdown seen across the global financial markets, including the cryptocurrency industry, UNUS SED LEO was one of the assets that was barely affected by the downturn. As a matter of fact, this crypto has regained over 90% of the losses it incurred. Now, the TD sequential indicator is presenting a sell signal in the form of a green nine candlestick on LEO’s 3-day chart. The bearish formation estimates a one to four candlestick correction before the continuation of the uptrend. If validated, UNUS SED LEO could lose some of the gains it made. Nevertheless, in a lower time frame such as the 1-day chart a head-and-shoulders pattern appears to be developing. This technical formation is considered to be one of the most reliable trend reversal patterns by many traders. An increase in the buying pressure behind LEO around the current price levels could confirm this bullish pattern. Thus, breaking above the neckline could send this crypto up over 20% to around $1.26. This target is determined by measuring the distance between the head and the neckline and adding it to the breakout point. Due to the ambiguous outlook that UNUS SED LEO presents, investors must be cautious. A break above the $1.04 resistance level could signal that the head-and-shoulders pattern will be validated. Conversely, failing to close above this price hurdle could add credibility to the bearish outlook presented by the TD sequential indicator. Following a 73.5% price drop, OKB managed to rebound quickly and turn its 200-twelve-hour moving average into support. Although the bullish momentum was significant, it was not strong enough to allow it to break above the resistance provided by its 100-twelve-hour moving average. The low levels of volatility seen over the last two weeks suggest that OKB could continue consolidating within these two moving averages for a longer period of time. Adding credence to this idea, a falling wedge appears to be developing in the 4-hour chart. This technical formation is signaling that an 18% upswing is on the works. If validated, OKB could soon climb to test its 100-twelve-hour moving average once again. Even though support and resistance levels weaken the more they are tested, it remains unclear whether the 100 or 200-twelve-hour moving average will break first. Therefore, market participants must wait for OKB to move above or below this trading range before entering any trade. Closing above resistance will set the stage for a further advance to $5.4 or even $6.3 while losing the 200-twelve-hour moving average as support could trigger a sell-off that sends OKB back to $2. Most cryptos in the industry, including BNB, LEO and OKB, have been able to make significant gains over the last few weeks after the massive correction they suffered between the beginning of February and mid-March. Regardless, the upturn seen recently has not been able to bring back most of the capital that was wiped out of the market. Data from Galssnode reveals Bitcoin holders are actually withdrawing their funds from exchanges. The outflow has been increasing on a daily basis since March 18. Currently, BTC exchange balances are the lowest they have been in approximately eight months, according to the on-chain data and intelligence firm. As market participants continue to shiver in “extreme fear,” the Bloomberg Galaxy Crypto Index flashed its first buy signal in over three months leaving many wondering whether it is time to “be greedy when others are fearful.”

downward movement after technical indices appeared to be bearish on the short-term price charts.

XRP

While Ripple’s product, RippleNet, and the crypto-asset XRP, have seen their implementation across various financial institutions for cross-border remittance purposes, these developments seem to have little impact on the coin’s price.

At press time, the third-largest cryptocurrency by market cap was priced at $0.174, while also recording a 1.19% price rise over the last 24-hours. Additionally, XRP held a market cap of $7.65 billion and a 24-hour trading volume of $2.077 billion.

Resistance: $0.177, strong>The MACD aligned with the bulls.

CMF: The CMF also appeared to be diving back into the bearish zone.

Huobi Token [HT]

The crypto-platform Huobi exchange strengthened its Asian footprint after receiving a green light from the Thai Ministry of Finance for trading in Thai Baht which enables holders to trade its native Houbi Token [HT] and other cryptos to trade in Thai baht.

HT was up by 1.17% over the last 24-hours which drove the price t0 $3.32. At press time, the coin registered a trading volume of $751.4 million and a 24-hour trading volume of $120.3 rt: $3.08

Parabolic SAR: The dotted markers above the HT price candles pointed to a bearish price trend for the coin.

Awesome Oscillator: The AO, however, was mildly bullish, with two green closing bars

OKB

OKEx, the cryptocurrency exchange and the parent firm of the OKB utility token, has been leading the BTC Futures exchange volumes market for a while now. In fact, the platform has burned 70% of the token’s supply. OKB was down by 0.29% over the course of the last 24-hours. At press time, the token was trading at $4.02 with a market cap of $255.9 million and a 24-hour trading volume of $204.5 rt: $3.74

Klinger Oscillator: The signal line above the KO line depicted a bearish phase for the coin in the near-term.

Relative Strength Index: The RSI also appeared to be heading towards the oversold region. This was indicative of mounting selling pressure in the OKB market.

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increase over the past 24 hours of trading, however, this does not change the fact that the cryptocurrency had previously dropped by a total of 86% from high to low in 2020 alone! Fetch.AI had dropped from a high of around $0.056 in February and plummetted as low as $0.01 in March, where it managed to find some support at a short term downside 1.618 Fibonacci Extension level. Of course, this price decline was apparent throughout the entire cryptocurrency market, however, the price drop of FET was quite substantial. After rebounding from $0.01, the cryptocurrency started to slowly climb higher. IT quickly managed to reach $0.015 by the end of March and went on to climb slightly higher during April to reach the $0.017 level. The cryptocurrency is also trading above a rising support trend line and had recently bounced from here last week.  However, it is important to point out that the price rebound from Fetch is quite weak when compared with price increases in the majority of other altcoins. Looking ahead, if the buyers can push higher and break above the $0.017 resistance, the first level of higher resistance is located at $0.02, where lies the bearish .236 Fib Retracement - measured from the Feb high to the March low. Above this, resistance is located at $0.022, $0.025, and $0.0267 (bearish .382 Fib Retracement level). On the other hand, if the sellers step in and push the market lower, the first level of support is located at $0.015. Beneath this, we can expect support at $0.014, $0.012, and $0.01. The RSI has been climbing from extremely oversold conditions, however, it is struggling to break above the 50 line which is a strong signal that the sellers are not ready to give up their control of the market momentum just yet. OKB has seen an interesting period of trading in 2020. The cryptocurrency actually increased by a total of 185% in the first 6 weeks of the year as it surged into the $7.30 level by mid-February. However, during the March market collapse, the cryptocurrency started to drop heavily. IT plummetted beneath support at $5 and $4 and continued to drop until finding support at $2.94 which is provided by the long term .786 Fibonacci Retracement level. After reaching this support, we can see that OKB went on to rebound higher as it managed to climb as high as $4.50 by the end of March 2020. During April, we can see that OKB went on to climb higher above $4.50 as it increased to reach the resistance at the $4.97, provided by a bearish .5 Fib Retracement level. This bearish Fibonacci Retracement level is measured from the Feb high to the March low. It has since dropped lower from here but managed to find short term support at $4.47. OKB is now facing strong resistance at $4.83 (1.272 Fib Extension) and has turned away from here recently. Looking ahead, if the sellers push lower, the first level of support is located at $4.50 (.236 Fib Retracement). Beneath this, support lies at $4.18,  $4.00, $3.88 (long term .618 Fib Retracement), and $3.50. On the other side, if the bulls can break the resistance at $4.83, higher resistance lies at $4.97. Above this, resistance is located at $5.35 (1.618 Fib Extension), $5.45 (bearish .618 Fib Retracement), $5.63, $5.88, and $6.00. The RSI is trading on the 50 line which is is a sign of indecision within the market. Matic has actually seen a strong 9% price increase over the last 7-days of trading as the cryptocurrency trades at the $0.0128 level. Matic increased from January through March as it managed to reach a high-day closing price of around $0.027 in early March 2020. However, during the March market collapse, we can see that Matic slipped lower as it dropped into the support at $0.00635. It managed to rebound from here and reached as high as $0.012 before the end of March 2020. In April, Matic went on to climb even higher as it reached resistance at $0.014. It dropped lower but managed to find support at the .382 Fib Retracement at $0.0112 and the rising support trend line. Looking ahead, if the bulls can break the resistance at $0.014, higher resistance is located at $0.015 where lies the 100-day EMA. This resistance is further bolstered by a bearish .382 Fib Retracement level that is measured from the March high to the March low. Above this, resistance is located at $0.016 (200-day EMA), $0.01776 (bearish .5 Fib Retracement), $0.0189, and $0.02. On the other hand, the first level of support lies in the rising support trend line. Beneath this, support lies at $0.0112 (.382 Fib Retracement), $0.010 (.5 Fib Retracement), and $0.01.  The RSI is slightly above the 50 line to show weak bullish momentum. We would need to see it rise higher if we would like to see Matic breaking the $0.14 resistance level. At CoinCodex, we regularly publish price analysis articles focused on the top cryptocurrencies. Here's our most recent article about the price of Top Coins to Watch: Tags:OKBOKB$ 4.61-1.84%BuyAuthorYaz SheikhYaz is a cryptocurrency technical analyst with over seven years of technical analysis trading experience. As an Economics graduate, he has taken a keen interest in the future potential of blockchain in the financial industry. Removing crypto from the equation, Yaz loves to watch his favorite football team and keep up-to-date with the latest fights within the UFC.Keep track of your holdings and explore over 5,000 cryptocurrencies

by monthly trading volume (according to ),made a rather surprising announcement: one of its competitors, , would soon be listing OKEx's native token (OKB).OKEx's global utility token, OKB, was launched in April 2018. According to in April 2019, initially, OKExdid not launch OKB on any blockchain "because of the secret development of our own public chain - OKChain." However, due to demand from its community, OKEx decided to "launch the circulating 300 million OKB" on the Ethereum network.According to the press release shared with CryptoGlobe, the construction of OKChain is at the "final testing stage," and the OKChain mainnet is expected to launch later this year. Once this has happened, ERC20-based OKB tokens will be swapped for native OKB tokens on OKChain.The OKB token will be used for "fees settlement and all DApps developed on OKChain." Currently, the OKB token "allows OKEx users to perform various tasks such assetting up an OKEx partner exchange, settling trading fees, and subscribing for new tokens on the token sale platform OK Jumpstart."Andy Cheung, Head of Operations of OKEx, said:We aim to foster a new economy with blockchain technology. To achieve de-intermedium and financial inclusion, we do not work as an isolated island. We believe the key to prompt the market growth requires teamwork, which is the reason for us joining forces with other leading industry players to spark new chemistry."

public chain ecosystems. The creative token design of OKB and OKT is helpful to eliminate the issues most of the other exchanges are facing. While countries like the US have set plans in motion to jump-start their economies, investors, on the other hand, are coming to terms with market uncertainties against the backdrop of the downtrodden state of the global economy. However, in the crypto scape, market experts are predicting a possible rebound of digital asset prices, even as crypto firms continue to show no signs of slowing down amid the coronavirus scare. Leading the charge are crypto exchanges, which, to an extent, have conditioned their businesses to withstand crisis borne out of extreme volatility. One of such exchanges is OKEx. OKB, issued by OK Blockchain Foundation, is accepted by the exchange as a global utility token, and it has stood out as one of the best performing cryptocurrencies in the market since the start of the year. Here, we will explore the price trend of OKB and the underlying factors propelling its viability. The price of OKB stood at the $4.30 mark, up 3.82% in the last 24 hours. This development reiterates, albeit to a lesser degree, the price response of the token whenever the OKEx ecosystem achieves a milestone. It will interest you to know that the price of OKB at the beginning of January was $2.30. Hence, regardless of the economic downturn resulting from the coronavirus pandemic, OKB has managed to sustain a positive price movement in 2020. In January alone, the token recorded a 25% surge in valuation and a 34.1% monthly fluctuation in the OKB/USDT crypto pair. In mid-February, OKB continued its uptrend and reached an all-time high of $7.51, with ROI hitting a staggering 322.29%. However, in tandem with the overall performance of the crypto market and the global economy as a whole, OKB experienced extreme volatility in March that caused its price to fall steeply. At the height of this downtrend, the token sold for $2.59. Nonetheless, the digital asset has shown a slow but steady recovery, sparking speculation as regards the viability of the crypto asset in current market conditions. There are several factors responsible for OKB’s impressive price run in 2020. The unprecedented spike in the price of OKB in February was linked to the announcement of the OKChain testnet. OKChain ushers in a new frontier for the OKEx ecosystem. It provides all the benefits of a multi-layered public blockchain for decentralized applications. Also, OKT, the native token of OKChain, will be issued to resolve the dilemma that the inflation of exchange tokens will destroy the public chain ecosystems. By theory, the token price will keep increasing, but it is in contrast to the development of chain systems because developers won’t be able to afford the cost for building DApps and they would speculate on the token price rather than using them to work on their products. According to the announcement, the exchange decided to map 100% of OKT produced from the genesis block to OKB holders, which could be a driving force to OKB price increase. Other developments fueling the OKB narrative include the move by OKEx to increase its crypto storage support capacity with key partnerships, an introduction of the Euro deposit channel, and expanding availability beyond the OKEx ecosystem. Importantly, the exchange has opted for a unique deflation framework, albeit with familiar value-retainment elements. “The creative token design of OKB and OKT is helpful to eliminate the issues most of the other exchanges are facing right now - the deflation of exchange token will destroy their chain ecosystem” said Jay Hao, CEO of OKEx, “ OKEx has always take our users’ interests as the first priority by diligently listening to our community, creating substantial values to our supporters. This year, developing the OKB ecosystem will be our top priority task, and I believe OKB holders will enjoy a much wider variety of benefits in the long-term period.” To ensure that OKB is impervious to inflation, the platform made drastic changes to its supply mechanism. The Malta-based exchange adopted a buyback and burn program. OKEx has used a fraction of its revenue (officially 30%) from spot trading to fund this program and reduce the number of OKB tokens in circulation. Out of the 1 billion OKB created, OKEx has already burned all unissued tokens totalling 700 million OKB. With the help of the implemented buyback and burn program, the exchange has reduced its circulating supply from 300 million OKB to 282 million OKB. Hence, the token is the first digital asset to attain absolute deflation, which experts believe has an immeasurable impact on the price trend of the token. It is difficult to gauge how much impact this novel deflation mechanism will have on the future price of OKB. Similarly, there are no templates viable enough to test the viability of OKEx’s push to cut off the supply of its native token. However, one thing is certain: OKB is one of the digital assets spearheading the projected altcoin season of 2020. At pixel time 2351 HRs UTC+3, OKB was up seven percent in the last 24 hours. Remarkably, its trading volumes had shot up 40 percent. Prices are trading within a tight trade range and notably oscillating inside Mar 11 and 12 bear candlesticks. However, unless there is a sharp uptick of prices above Mar 19 high of $4.8, reversing sharp losses of Mar 11, candlestick arrangements suggest that OKB may slide back below $3.8 towards $2. On the flip side, a close above $5 could see bulls flow back and OKB rally to February high of $7.5. Disclosure: This is the opinion of the author and is not investment or trading advice. Do your own research. Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Digital Asset Summit held on July 18, Managing director and quant strategist at Fundstrat Global Advisors Sam Doctor anticipates that Bakkts Bitcoin futures contracts might in the current quarter. Fidelitys crypto arm Fidelity Digital Assets Services has applied for a with the New York Department of Financial Services. If approved, the firm can start its custodial services in the state of New York. Both these services will address concerns of the institutional players and might hasten their arrival.The cryptocurrencies have bottomed out and have started a new bull market that has legs to run. In an uptrend, the dips are a buying opportunity. Lets see if we spot any buy setups in the top five market performers of the past seven days. BSV/USD The Bitcoin SV () network will complete the Quasar upgrade on July 24, which will increase the default block size hard cap from 128MB to 2GB. After a few months of the upgrade, the cryptocurrency will be able to handle thousands of transactions every second. DRIVE Markets has launched trading in Bitcoin SV. Backed by these positive news, the digital currency has turned out as the top performer among major cryptocurrencies. It has rallied close to 25% in the past seven days. Can it continue its up move or will it witness profit booking at higher levels? Lets analyze the chart.The BSV/USD pair broke below the 61.8% Fibonacci retracement level of the rally this week, but lower levels saw sharp buying that has propelled the price right back up. This is a positive sign as it confirms demand at lower levels. The price can now reach $214.210 and above it $255.620. If the bulls propel the price to a new high, the uptrend will continue. However, after forming large ranges in the past two weeks, we expect the volatility to cool down and the pair to enter a consolidation for a few weeks. The pair will turn negative if the price turns around from one of the overhead resistances and plummets below $107. Nonetheless, we give it a low probability of occurring. XTZ/USD Tezos () is the second-best performer of the past seven days, rising close to 20%. Can it build on its momentum and start a new uptrend? Lets see the chart.The XTZ/USD pair is largely range-bound between $0.33 and $1.85. For the past three weeks, the bulls have managed to defend $0.902128, which is the 61.8% Fibonacci retracement of the recent rally. The bulls have not been able to push the price above $1.295480, which shows profit-booking at higher levels. Both moving averages are flat and the RSI is close to 50, which suggests that the digital currency might consolidate for a few more weeks.If the pair breaks out of $1.295480, it can rally to $1.85. A breakout of $1.85 will start a new uptrend that has a long-term target objective of $3.37. Therefore, traders can buy on a close (UTC time frame) above $1.295480 and keep a stop loss of $0.80. Our bullish view will be invalidated if the price reverses direction from $1.295480 and plummets below $0.829651. If that happens, a drop to $0.33 is probable.TRX/USD Tron (TRX) CEO Justin Sun tweeted that something big will happen next week along with the Warren Buffet lunch. Sun has invited influential people in the crypto universe to him for the power lunch with the legendary investor. The crypto community has kept its fingers crossed on the outcome of the meeting.The TRX/USD pair had broken down of the channel last week. Though bears broke below the critical support of $0.022 during the week, they could not sustain the price at lower levels. Aggressive buying has propelled the price back into the channel. This is a positive sign.There is a minor resistance at the downtrend line above which the pair can move up to $0.040. A breakout of this resistance can push the price to $0.050. The traders can wait for the price to scale above the downtrend line before buying. The stop loss can be kept at $0.020 because if this support gives way, a drop to $0.017740 and below it a retest of the yearly low is probable.LTC/USD Litecoin (LTC) was recently named as the official cryptocurrency of the Miami Dolphins. This will increase the visibility of the cryptocurrency among NFL fans. With halving just a few days away, can the price resume its uptrend or will it remain range-bound? Lets find out.After failing to break out of the ascending channel a few weeks ago, the LTC/USD pair plummeted below the channel last week. The bears followed it up with a breakdown of the support at $83.65. However, they could not sustain the lower levels and the price has quickly bounced back. This shows strong demand at lower levels.Currently, the bulls are facing resistance at the channel line. This line, which had previously acted as a support is likely to act as a resistance. Nevertheless, if the price climbs back into the channel, it will be a positive sign. The next level to watch on the upside is $140.3450. Therefore, traders can wait for the price to re-enter the channel and sustain it before buying. The stop loss can be kept at the recent lows of $76.Our bullish view will be invalidated if the price turns down from the channel and plunges below $76. In such a case, a drop to $58 is probable.ATOM/USD Cosmos () rallied close to 5% in the past seven days. Is this the start of a new uptrend or is this only a pullback in a downtrend. Lets study the chart.Due to a short trading history, we are analyzing the daily charts for the ATOM/USD pair. The pair has given up a lot of ground in the recent correction. It is currently attempting to bounce off the $3.6043$3.4101 support zone. The pullback is likely to face resistance at the 20-day EMA. The next fall towards the support zone will give us a better idea whether the bottom is in place. If the price breaks below $3.4101 during the next fall, it can retest the lows at $2.9277.Conversely, if the pair rebounds off the support zone and breaks out of the 20-day EMA, it is likely to reach the 50-day SMA and above it $6.15. Therefore, traders can watch the price action during the next fall and buy on a breakout above 20-day EMA. The stops can be placed below $3.40.OKB/USD* OKB is the native token of OKEx, a world-leading cryptocurrency exchange. It is trading well above its listing price. The token offers its users opportunities to set up OKEx partner exchanges, settle trading fees and subscribe to new tokens sale on the OK jumpstart platform.The total supply of OKB is 1 billion, out of which only 300 million is in circulation and the rest has been locked up until 2022. The long-term hodlers of the token will benefit from the OKB Buy-Back & Burn Program, which will be run every 3 months. Currently, the token is operating on the ERC-20 protocol but will soon migrate to the mainnet being developed by OKEx which is in its final stages of testing.In its evaluation report, Shinobi Capital, an established blockchain and cryptocurrency advisory firm, expects OKB to benefit from the development of OKChain mainnet and better market conditions for cryptocurrencies. They expect OKB to hit a market capitalization of about $7.068 billion by 2020.OKB has been listed on Bitfinex and is attempting to partner with other exchanges to further expand the ecosystem. At press time, the token is ranked 1,878 on CoinMarketCap with a 24-hour volume of $142,547,972. So, is this a good opportunity to scoop OKB before prices shoot up? Lets look at the technical picture.The OKB/USD pair hit a high of $6.68 on May 18, 2018, and from there, it lost a lot of ground during the crushing bear market and fell to a low of $0.5718 on January 13, 2019. However, it participated in the recovery and rose to a high of $2.5566 on April 3. That is a 347% gain within three months.Thereafter, the pullback found support at the 61.8% Fibonacci retracement level of the up-move. It consolidated between $1.30 and $1.829 for a few days before breaking out. It again got stuck in the $1.55$2.09 range for a few days. Currently, the price has broken out of the range and is likely to move up to $2.5566, which will act as a stiff resistance. If this level is scaled, the price can move up to $4 and above it to $5.40. Both moving averages are gradually sloping up, which suggests that bulls have the upper hand. However, if bears defend $2.5566, the digital currency might remain range-bound between $2.09 and $2.5566 for a few days. It will lose momentum on a break below the 50-day SMA and will turn negative on a breakdown of $1.2616. *Disclaimer: OKB is a featured cryptocurrency from one of Cointelegraphs sponsors, and its inclusion did not affect this price analysis.The market data is provided by the HitBTC exchange.