OKB Jumps 6%, Briefly Tops $83 on ICE-OKX Venture News
Summary
- The OKB token of exchange OKX posted a sharp short-term gain after news that ICE, the parent of the New York Stock Exchange, and OKX had formed a crypto joint venture called OKXICE.
- OKB briefly climbed above $83 before trading around $81, with a 6%% gain over the past 24 hours.
- The market is interpreting the partnership between a traditional financial-market infrastructure company and a global crypto trading platform as a sign of institutional capital entering the digital-asset market, helping drive short-term buying in OKB.
Forecast Trend Report by Period
OKB, the exchange token of OKX, surged after news that Intercontinental Exchange, the parent of the New York Stock Exchange, and OKX had formed a cryptocurrency joint venture called OKXICE.
Crypto outlet Odaily reported on June 22 that OKB briefly rose above $83. It later pared some of its gains and was trading around $81, up 6% over the past 24 hours.
The rally appears to have been driven by news of the new digital-asset venture between ICE and OKX.
BlockBeats earlier reported that ICE and OKX had established OKXICE. The companies have not yet disclosed the venture's detailed business scope or operating plans.
Market participants are interpreting the tie-up between a traditional financial-market infrastructure company and a global crypto trading platform as a signal of institutional capital entering the digital-asset market. That helped spur short-term buying in OKB, which is directly tied to the OKX ecosystem.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
