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Crypto alternate OKX’s utility token OKB is skyrocketing immediately. The 24-hour high and low are $45.29 and $54.49, rallying over 20% prior to now 24 hours. Furthermore, the buying and selling quantity has jumped 330% within the final 24 hours, supporting a powerful upside momentum. The OKB price is presently buying and selling at $54.04 at press time, with extra rallies anticipated within the coming days.

OKX Announces SUI Token Sale

The large upside transfer got here after OKX announced assist for the SUI token sale. OKX will begin providing the SUI token via its main token gross sales platform OKX Jumpstart within the kind of a token allocation lottery on April 23. Users want to carry OKB tokens from April 20-22 to be able to get SUI tokens. The variety of tokens accessible are 225 million and the sale value is $0.1.

OKX Wallet’s strategic partnership with Sui Network permits customers to entry Sui ecosystem tasks and take part in airdrops and initiatives.

🌊 Get prepared for the Suinami 🌊

📢 Introducing the long-awaited #OKX Jumpstart — $SUI$SUI is the native token of @SuiNetwork, a Layer 1 blockchain developed by @Mysten_Labs for the subsequent billion customers 💧⛓️

🗓️ Get concerned along with your $OKB on Apr 20 (UTC) ⤵️

— OKX (@okx) April 14, 2023

Crypto exchanges corresponding to OKX, Bybit, and KuCoin introduced that they are going to listing SUI Token and launch a subscription mechanism, as a substitute of an airdrop. Allowlisted customers that contribute to the ecosystem should buy SUI from a pool at a really low value.

In September final 12 months, the SUI growth group Mysten Labs accomplished $300 million in financing at a $2 billion valuation by FTX Ventures, Binance Labs, Coinbase Ventures, Circle Ventures, and Lightspeed Venture Partners.

Moreover, OKX might be one of many largest exchanges to learn from Hong Kong’s aggressive transfer to evolve right into a crypto hub. Institutional buyers from Hong Kong are prone to commerce on OKX to purchase crypto for the primary time.

On March 28, OKX set up an entity in Hong Kong for offering digital asset companies. The newly established OKX entity will apply for the digital asset service supplier (VASP) license beneath the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Ordinance 2022 and the Type 1 & 7 licenses beneath the Securities and Futures Ordinance.

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Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his data about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been related to the blockchain and cryptocurrency trade for a considerable interval and is presently masking all the most recent updates and developments within the crypto trade.

The introduced content material might embrace the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any accountability on your private monetary loss.