OKEx to Resume Withdrawal, Will It Stop the Bitcoin Bull?
Cryptocurrency exchange OKEx published the announcement introducing that it’ll resume what it describes as an “unrestricted withdrawal on November 27.
The native token OKU slides by 30% with the price dropped from $6.5 to even less than $5 during the 35 days after OKEx suspended the withdrawal. With the announcement released, OKU suddenly returned to normal price with a rise of 10%, during which the price dump was all recovered.
Not only OKB pumps, but native token of other crypto exchanges such as Huobi, Gate. However, one of the three major exchanges, Binance’s native token did not rise significantly. This may be due to the excessive increase in the early period of price or the founder’s absence from Chinese policy.
Bitcoin has seen a rare steady rise, rising from $11000 to $18000 today In the 35 days since the OKEx accident. During this period, bitcoin prices rarely fluctuate significantly.
Most investors consider the bitcoin bull is the result of the bitcoin purchase of Grayscale. Grayscale is a crypto trust agency. It has been buying bitcoin since last year. At present, it has accumulated more than 500000 BTC, accounting for nearly 3% of the total circulation of bitcoin, whose influence cannot be underestimated.
By 2020, the centralized exchanges, which stood at the top of the crypto industry, who are not only referees but also control the coin listing rights.
At the end of the year, the supervision of anti-money laundering became more and more strict in China, and a tide of card-frozen appeared, which prevented the capital from entering and leaving to a certain extent. In the face of overseas institutions led by Grayscale, the influence of Chinese investors (especially retail investors) on the coin price has decreased significantly.