Renowned Chinese crypto journalist Colin Wu has drawn attention to a recent anomaly involving the price of OKB on the OKX exchange. According to Wu, the glitch occurred yesterday between 20:00 and 20:15 UTC+8, during which OKB’s price plummeted from $40 to a low of $30, marking a sharp 25% decline in just 15 minutes.
Wu noted that following the brief disruption, OKB’s price swiftly returned to its normal levels. Supporting his claim, Wu shared a screenshot confirming the incident on social media.
In a parallel incident earlier this year on January 23, Wu recalled another price anomaly where OKB’s value dropped significantly from $48 to a low of $25.1, reflecting a substantial 47.7% decrease.
As of the latest update, OKB is currently trading at $35.28 per token on OKX, the third largest exchange by 24-hour trading volume. Over the past day, OKB has recorded a decline of 13.82%, consistent with broader market movements affecting most cryptocurrencies.
OKB, launched in March 2018, serves as OKX’s utility token, offering holders access to various exchange privileges such as reduced trading fees.
Notably, occurrences of sudden price fluctuations are not uncommon in the crypto market. These anomalies can stem from various factors, including large-scale transactions by influential investors, liquidity challenges, or technical issues within the exchange platforms.
The Crypto Basic has previously reported similar incidents involving prominent cryptocurrencies like XRP. Just last month, XRP experienced a brief surge on Kraken, briefly reaching an astonishing $62,032 before stabilizing. Similarly, in March, a glitch on Coinbase caused Shiba Inu’s value to plummet from $0.000044 to $0.00002 within minutes, representing a significant 55% drop.
It’s important to note that this content is for informational purposes only and should not be construed as financial advice. Readers are advised to conduct thorough research and exercise caution before making any investment decisions. The opinions expressed in this article are those of the author and do not necessarily reflect those of The Crypto Basic.
