Despite OPNX officially shutting down at the end of this month, many traders are refusing to sell their tokens.
When news first broke that cryptocurrency bankruptcy claims platform OPNX would cease operations, many investors in the Telegram group initially expressed disbelief and called the news FUD. However, after the OPNX team’s email was circulated, investors changed their stance.
“Is the token dead?” One Telegram user said:
“I doubt it. It’ll probably become a meme. It’s still valuable. I’m not selling it,” replied another.
“Then I’ll bear with it. What are the chances of them failing again?” asked a third. “It’s statistically almost impossible. Four in a row.”
To be clear, the Telegram chat is not necessarily representative of all OX investors. However, it was surprising to see the token’s loyal followers react to the news of OPNX shutting down, expressing their adoration for OX.
Telegram appears to have been abandoned by its moderation team, so no one has officially connected with OPNX to respond to claims that the news is FUD. “Get used to being afraid,” one investor said, following a meme GIF.
OPNX is reportedly shutting down because FTX’s bankruptcy proceedings have reached ‘recovery’. Co-founder Su Zhu told CoinDesk.
“The recovery of FTX marks the end of cryptocurrency ownership. The OX community will now focus on OX.Fun and we would like to congratulate FTX asset holders on their full recovery,” Zhu co-founder Kyle Davies said in a statement. Media.
OX.Fun is a derivatives trading platform that has both. Xu Zhou And Kyle Davies took over. “$OX is an ecosystem, an economy and a community,” Davis said on Twitter linked to the OX.Fun Telegram (aka X). “Long live OXFUNHQ.”
The OX.Fun community doesn’t seem to be too concerned about the demise of OPNX, as they didn’t see much value in it anyway.
“Everyone sold their tokens,” one investor explained when someone asked for the TL;DR. “Then people realized they didn’t initially hold the token because of the public exchange and bought it back because they just liked the meme of it.”
According to CoinGecko, OX, the native token of OPNX and OX.Fun, plummeted from $0.01 to $0.006 in less than an hour after OPNX’s closure was announced. Now, 15 hours after the announcement, the token has recovered to $0.008. Nevertheless, it is down 35% from the price announced yesterday.
Edited by Stacey Elliott.
