In a volatile day for cryptocurrencies, Bitcoin retracted to $39,000, and several altcoins fell by over 10%. Amidst this, OKX’s native coin OKB stunned investors with a sudden 50% price drop within minutes.
OKB’s price plummeted from $52 to $25, causing a stir in the crypto community. The reason behind this drastic price movement remains unknown, and OKX has yet to release a statement explaining the abnormal price drop.
Despite the lack of official explanation, OKB showed signs of recovery post-collapse, climbing back above the $40 threshold and indicating a return to its normal price levels.
Following the sharp decline, OKB began to rebound quickly, with current data showing the altcoin trading at $45.06, marking a 15.52% decrease over the last 24 hours.
Data from CoinMarketCap revealed a surge in OKB’s trading volume following the unusual price action, with a more than 2000% increase in the last 24 hours, reaching $62.5 million.