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OKB price is rising and was up by about 2.30% trading at about $42.17 after a month of a bear market.
Today’s surge has caught a majority of crypto traders by surprise since the token has been bearish for the most part of March.
Why OKB price is rising
Early today, OKX, one of the largest cryptocurrency exchanges by trading volume, launched Turkish Lira (TRY) deposits and withdrawals on Android, iOS, and the web. This means that OKX users from Turkey will be able to directly deposit and withdraw funds in Turkish Lira.
According to the Chief Marketing Officer at OKX, Haider Rafique:
“Our goal is to become the leading crypto platform in Türkiye. This starts with listening to the community about their needs and investing in the market. We want to give the Turkish community a platform to explore, experiment and dream up the future with us. Perhaps we will see the next big thing come out of Türkiye with the support from us and other crypto companies.”
The TRY announcement comes a few days after OKX exchange announced its name sponsorship of the Istanbul Fintech Week that will take place between April 13 and April 14 April 2023. During the event, OKX’s Global Government Relations Officer, Tim Byun, will deliver a keynote speech.
The two announcements are expected to push the price of OKB further seeing that the exchange publishes its proof of reserves on a monthly and allows users to self-verify reserves and liabilities using open-source tools for trust and transparency. The exchange also boosts of the largest 100% clean assets reserves of any major cryptocurrency exchange.
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