There was immense hype around the soon-to-be-launched OKB Chain, which went live on a test network last month.
However, unlike other rollups, the transaction fees on the chain will be paid in OKB instead of ETH. Anticipating its value as the utility token of the ecosystem, more traders would be tempted to amass OKB in the near term, thus contributing to its price rise.A greater number of wallets started to get involved in OKB transactions over the past week, indicating the token’s growing prominence.
Most of these wallets were buyers, as the number of holders for OKB increased during the same time. This showed that users were betting on price increase of the coin. Another reason behind the growing number of holders could be the increasing profitability of the network. The MVRV Ratio scaled the highs of the positive region, implying that most holders were in profit at the time of writing.
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