In a striking market reaction, the Open Exchange Token (OX), the native cryptocurrency of the OPNX platform, surged by 50% within just 20 minutes following a tweet from co-founder Su Zhu. This sudden increase coincided with Zhu's first Twitter post since his arrest on Sept. 29, which was a simple "gm" or "good morning".
The OX token reached a 63-day high, matching the price levels last seen on the day of Su Zhu's arrest, according to CoinGecko data. However, following this peak, the token experienced a slight retraction, adjusting by about 6%.
Su Zhu's arrest in September, related to a contempt of court charge, led to speculations about his release after a wallet believed to be associated with him showed activity. OPNX, short for Open Exchange, is a platform facilitating the trading of creditor claims from bankrupt crypto companies.
This incident highlights the significant impact that prominent figures in the crypto world can have on market dynamics and investor sentiment.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.