Cryptocurrency exchange OKX announced to launch new blockchain named OKBChain in Q1. As a result, OKX’s native token OKB reached an all-time high with a more than 15% hike on Thursday.
OKBChain will be different from the EVM-compatible smart contract protocol OKXChain. POS-based OKBChain would help in the development of the OKB decentralized ecosystem.
OKExChain is more focused on providing a decentralized platform for developers to build and deploy dApps, while OKBChain is more focused on providing business solutions to enterprises.
OKB Hits New ATH
Following the news, OKB rose rapidly by more than 15% on Thursday. At press time, OKB crypto trades at $48.4 against the USDT pair.
Amidst the ongoing bullish trend, OKB has registered a latest all-time high at $52.8 on 16 February. While the bulls are aggressively pumping the altcoin, the bears also attempted to drag it back below $50. As of now, the $50 zone appears as an immediate hurdle.
The Fibonacci retracement shows the next target near $65 (1.618 level) if the market bulls manage to hold the OKB price above $50. Furthermore, a higher increase in bitcoin could accelerate OKB Coin’s momentum toward the next resistance.
Meanwhile, market leader bitcoin also surpassed its 8-month high since August. As a result, the total crypto market cap grew by 5.6% to $1.11 trillion on February 16.
