Famous journalist Colin Wu has published a new post on his Twitter account, in which he reported a sharp drop in the value of the cryptocurrency OKB (OKB) by 50% in just 10 minutes. The Asian reporter emphasized that this happened suddenly at noon on January 23, 2024, when the price of the native coin of the OKX platform plummeted from $52 to $25.

Experts noted that after this, the price started to recover, and by 12:25, it had already reached $47. The market capitalization of the cryptocurrency reached $2.81 billion. It is also worth mentioning that the daily trading volume increased to $57.4 million, a growth of 1888%. At the moment, the reason for such a sharp decline in OKB quotes remains unknown.

OKX is a major centralized cryptocurrency exchange that provides the opportunity to trade various crypto assets, including both digital and fiat currencies.

OKB is a digital token issued by the platform's development team. This token can be used to pay commissions for trading operations and other services on the platform. OKB holders are provided with various benefits and rewards, including transaction fee discounts, participation in voting, and access to exclusive products on the centralized platform. OKB is based on the Ethereum blockchain and complies with the ERC-20 standard.

Colin Wu, better known as Wu Blockchain, is a Chinese journalist and analyst specializing in blockchain and cryptocurrencies. He actively engages in social media, where he publishes news, analytical reviews, and information about cryptocurrencies, as well as the latest technological developments.