Coin

<p>OAX, the token underpinning the OAX decentralized finance project, has pumped over 59% in the last 24 hours. A confluence of factors appears to be responsible for the rapid price uptick.</p>
<p>Launched in 2017, OAX aims to bring decentralized finance and digital assets into the mainstream. The project has built an ecosystem for decentralized trading and payments.</p>
<p>According to analyst <a href="https://twitter.com/bitpeaks/status/1714500330891755573" target="_blank" rel="noopener noreferrer nofollow">Bitpeaks</a>, OAX currently has strong buy support just below its price around $0.196. The bid-to-ask ratio is 3:1, indicating more buyers than sellers.</p>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="576" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-454-1024x576.png" alt="" class="wp-image-358416" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-454-1024x576.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-454-300x169.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-454-767x431.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-454-1536x864.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-454-2048x1151.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-454-267x150.png 267w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-454-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-454-623x350.png 623w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-454-788x443.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-454.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>OAX also received a low manipulation <a href="https://www.investorsobserver.com/news/crypto-update/should-you-sell-oax-oax-tuesday" target="_blank" rel="noopener noreferrer nofollow">risk score</a> from InvestorsObserver’s proprietary system. This metric analyzes recent volume changes to gauge how easily a token’s price can be moved.</p>
<p>Additionally, OAX’s trading volume has exploded 5000% in the past day as per CoinMarketCap. This intensified activity often coincides with price rallies.</p>
<p>The combination of surging volume, high buying interest, and Quantified’s low manipulation risk rating helps explain OAX’s ability to surge 50% amid a wavering broader crypto market.</p>
<p>Sustaining these factors will determine if OAX can turn its sudden spike into a sustained uptrend. But for now, the trifecta of bullish analytics has powered its breakout.</p>
<p>OAX currently trades around $0.24, up 59% in the past 24 hours. Its parabolic move illustrates how forgotten altcoins can abruptly awaken during periods of volatility.</p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/forgotten-oax-coin-suddenly-explodes-59-heres-why-traders-are-taking-notice/">Forgotten OAX Coin Suddenly Explodes 59% – Here’s Why Traders Are Taking Notice</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Forgotten OAX Coin Suddenly Explodes 59% – Here’s Why Traders Are Taking Notice

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