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  • OKB price dips 20% as OKB Boost contract glitch drains entire reward pool

    OKB price dips 20% as OKB Boost contract glitch drains entire reward pool

    OKB price dips 20% as OKB Boost contract glitch drains an entire reward pool

    • The malfunction allowed 32 wallets to claim 623M PYBOBO within 4 seconds.
    • The event emptied nearly all the 625M reward pool almost instantly.
    • The glitch coincides with OKB’s price underperformance.

    The virtual currency sector recorded another sell-off on Friday as Bitcoin lost 10% in the past 24 hours to press time’s $81,865.

    The global crypto market cap stands at $2.81 trillion after a 10% decline over the last day.

    Amidst the broader bloodbath, OKX’s native token suffered the most as the downside coincided with OKX facing new scrutiny after an unexpected contract glitch in its recent Boost reward campaign.

    A planned distribution of PYBOBO coins ended up with nearly all the pool drained within four minutes, and it wasn’t the massive demand as earlier thought.

    OKX’s token underperformed the overall cryptocurrency market in the past 24 hours.

    It dipped from $115 to $94 during this writing, and over 18% dip on its daily price chart.

    OKB experienced intensified selling pressure as the news of contract malfunctioning spread.

    A 4-second glitch empties 99.68% of incentives

    On-chain stats show that 32 addresses claimed 623 million PYBOBO coins, wiping nearly all the 625 million allocated for the distribution event.

    The most striking thing is that the entire sweep took only four seconds, catching the team and participants unaware.

    Notably, a multifunction within the OKX Boost claim contract seems to have permitted abnormal, rapid claims, allowing a few addresses to receive far more PYBOBO tokens than initially planned.

    OKLink identified a particular wallet that claimed 37.847 million tokens, worth roughly $18,600.

    Nevertheless, what’s striking is how fast the pool evaporated, with 99.68% of rewards gone by the time the ream noticed the glitch.

    The event’s nature indicates an unintended move that propelled distributions well beyond their specified limits.

    OKX Wallets halts claiming amid investigations

    The team acknowledged the issue immediately after the reports emerged and confirmed delaying PYBOBO claiming until after resolving the contract issuer.

    The temporary pause aims to prevent further potential damage as the project conducts a review.

    The team has promised to publish more updates as they investigate the matter.

    The incident sent ripples across the OKX ecosystem. OKB testified to that with its overwhelming selling pressure.

    OKB price outlook

    OKX’s token  hit a daily low of $94 after losing the $100 psychological mark.

    It has dropped from a daily high of $115, losing over 18% of its value in the past 24 hours.

    OKB has seen its daily trading volume surge 100%, signaling increased speculative activity.

    The digital coin would likely slump further before regaining a dependable footing as sellers thrive in the current financial landscape.

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  • OKB price hits new all-time high amid a 50% spike

    OKB price hits new all-time high amid a 50% spike

    OKB Price Skyrockets To New All Time High

    • OKB price rose 50% to hit a new all-time high of $195.
    • The altcoin is outpacing peers as investors react to tokenomics changes.
    • OKB is seeing traction as altcoins bid to break higher.

    OKB, the native token of the OKX exchange, has soared to a new all-time high of $195, with intraday gains of over 50% catapulting the altcoin to the new ATH.

    OKB’s price surge has also come amid a significant spike in daily volume, with market data showing the OKX token witnessed a staggering 428% uptick in 24-hour trading volume.

    At the time of writing, the metric hovered around $1.17 billion.

    Meanwhile, OKB is one of the standout performers in the past 24 hours and week, outpacing top altcoins as recent bullish catalysts keep bulls in control.

    BNB also hit a new peak as exchange tokens rally.

    Why OKB surged 50% as it hit a new all-time high

    As top altcoins braced for a fresh dose of downside volatility, OKB extended its recent rally to a new ATH.

    Having gone vertical from lows of $46 to highs of $116 on Aug. 13, the token retested the $92 area.

    But bulls have traded higher since, breaking above $150 and hitting the intraday record high of $195 on Aug. 21.

    OKB chart by CoinMarketCap

    The buying pressure follows a strategic tokenomics overhaul that OKX undertook recently, with this significantly altering the OKB’s supply dynamics.

    On Aug. 13, OKX executed a massive one-time burn of 65.26 million OKB tokens, slashing the circulating supply by over 50% to a fixed cap of 21 million tokens.

    The move meant OKX aligned its token’s supply with Bitcoin’s hard cap, with the deflationary event a key catalyst to the parabolic price action.

    The supply change has seen OKB’s market cap surge to $4 billion, while the price has increased nearly 90% in the past week and over 290% in the past 30 days.

    As well as the token burn, OKX introduced an upgrade to its zero-knowledge Ethereum Virtual Machine (zkEVM) network built with Polygon technology.

    The upgrade boosted the network’s transaction capacity to 5,000 transactions per second while slashing gas fees to near-zero levels, enhancing OKB’s utility as the native gas token.

     OKB price outlook

    OKB’s price trajectory has pushed key technical metrics to extreme levels, with the Relative Strength Index (RSI) hitting overbought conditions.

    Per the daily chart, OKB’s price hovers at a level where the RSI is above 92 and signaling a potential reversal.

    OKX price chart by TradingView

    However, the Moving Average Convergence Divergence (MACD) remains strongly bullish, with the MACD line above the signal line.

    This and the histogram’s outlook suggest sustained buying pressure.

    If bulls weather profit-taking deals, the next target will be a spike above $200 and further price discovery.

    On the downside, support levels include $125 and $92.

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  • Here’s why OKB price spiked 20% today

    Here’s why OKB price spiked 20% today

    • OKB token surged more than 20% to hit highs of $61.29 on Jan. 17.
    • The altcoin, native to the OKX exchange, rose as the community reacted to news around Azuki’s Animecoin (ANIME).

    OKB registered a price surge 20% higher. The price surge follows OKX adopting OKB as the primary token for mining Animecoin which is their maiden project aimed at revolutionizing the Anime industry.

    On Friday Jan 17, the price of OKB, the native token of the OKX ecosystem rose by 20% posting a high of $58.86. This came after the crypto platform chose it as the primary token for mining Animecoin (ANIME), the Azuki backed token.

    OKX Jumpstart and ANIME tokens

    The OKX Jumpstart staking program  is set to begin mining Animecoin on Jan 20. The OKB users can stake their OKB and BTC tokens to gain Anime tokens.

    The program will run from Jan 20 to Jan 23.

    While there is no minimum limit for staking for the holders of OKB and BTC tokens, maximum staking limit is set at 600 OKB and 0.3 BTC ($30,000). Staking and unstaking is permissible at any given time.

    Of the 10 billion total token reserve, a share will go to the active participants in the OKX Jumpstart event. 50.5% of the total supply will be apportioned to the community. 37.5% of the token will go to the Azuki community who are the very first supporters of Animecoin while Community Cultivation which is held by future AnimeDao will get 13%. The 13% will be used as community incentives and initiatives.

    Partner communities will also get 2% share.

    The Anime token Listing

    The Anime token is set for listing on both the Ethereum and Arbitrum platforms on Jan 23. Sources indicate that the token will stir up great following among the Anime users,its creators and revolutinize the the anime ecosystem to a great deal.

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  • Big Eyes Coin Pre-Sale Gains Popularity As Shiba Inu And OKB

    Big Eyes Coin Pre-Sale Gains Popularity As Shiba Inu And OKB

    The cryptocurrency market has been fluctuating for several weeks now. Nevertheless, there are indications that cryptos such as Shiba Inu (SHIB) and OKB (OKB) may be gearing up for potential bullish performance. This state of affairs comes as Big Eyes (BIG), a potential next big cryptocurrency, gains pre-sale popularity.

    Undoubtedly, these cryptos have so much potential in these coins, making buying into them worth prioritizing. Thus, this article discusses what the numbers are for Big Eyes (BIG) and why Shiba Inu (SHIB) and OKB (OKB) may be preparing to embark on a bull run. Let us take a look.

    Buy Big Eyes Coin For A Chance To Earn Big

    The Big Eyes (BIG) pre-sale indicates that the new cryptocurrency is becoming popular among crypto enthusiasts. At the time of writing, Big Eyes (BIG)—now in Stage 5 of its pre-sale—has raised over $7.1 million, with the new altcoin fast selling out.

    Big Eyes (BIG) is a community-focused meme token seeking to disrupt the meme sector by revolutionizing how meme tokens function. As such, Big Eye (BIG) aims to drive wealth into the decentralized finance (DeFi) sector by leveraging the wealth-generating capability of non-fungible tokens (NFTs).

    Big Eyes’ (BIG) promises to enable users to become wealthy. This promise may be why crypto enthusiasts are rushing to buy the new cryptocurrency, especially during the bear market when many other cryptos are failing to live up to expectations

    Watch Out For Shiba Inu As Its Ecosystem Grows

    At the beginning of the bear market, Shiba Inu’s (SHIB) price drop was very sporadic, leading analysts to predict that it may not sustain the bear market.

    However, its price performance has normalized since the altcoin’s recent drop to 15th position on the list of largest cryptos by market capitalization, per CoinMarketCap.

    As things stand, the number of crypto enthusiasts showing interest in Shiba Inu (SHIB) is growing steadily. This surge in interest is due to Shiba Inu’s (SHIB) growing ecosystem, which features several key products and beneficial offerings.

    Per reports, the number of Shiba Inu (SHIB) holders reached a new all-time high of 2,193,520 a day after the launch of the long-awaited Shiba Eternity play-to-earn (P2E) game. Statistics also show that the number of Shiba Inu (SHIB) holders has increased by 171,763 since July, with 104,200 being added only since September.

    In the coming months, more upcoming developments will be key in growing Shina Inu’s (SHIB) price. Also, the growing number of Shiba Inu (SHIB) holders means the altcoin may be on the verge of embarking on a bull run, which will make its price explode.

    OKB Is Still In The Game

    OKB (OKB) is a cryptocurrency on a steady upward trend. Despite bear market effects, OKB (OKB) continues to stay true to its promise of helping users experience a better future. OKB (OKB) enables users to explore the worlds of decentralized finance (DeFi), decentralized apps (dApps), NFTs, and gaming finance (GameFi).

    In September, OKB (OKB) witnessed an over 20% price increase to reach $16.56, up from around $13. Although OKB’s (OKB) price is unsteady due to bear market conditions, reports indicate that the altcoin is currently enjoying increased buy support.

    OKB’s (OKB) price is on an uptrend amid short periods of decline, meaning the altcoin may be on its way to a sustained bull run. Experts believe that this could push its price to $20 before the end of 2022.

    Based on what we have seen, Shiba Inu (SHIB) and OKB (OKB) are worth keeping an eye on and adding to your portfolio. Both altcoins’ roadmaps show that there is much to look forward to between now and the coming years. Like them, Big Eyes (BIG) boasts a robust roadmap that could help it surpass expectations when it hits the market.

    Big Eyes (BIG) currently ranks among the most anticipated cryptos in 2022, and you should leverage its low price to buy the potential next big cryptocurrency during the bear market.

    For more information on Big Eyes (BIG), visit these links:

    Big Eyes Coin (BIG)

    Presale: https://buy.bigeyes.space/

    Website: https://bigeyes.space/

    Telegram: https://t.me/BIGEYESOFFICIAL

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