Founded by Su Zhu and Kyle Davie of Three Arrows Capital OPNXis experiencing difficulties after the FLEX token has lost 30% of its value. According to the official announcement by the exchange, the exchange had a sluggish performance on its first day of activity, with 24-hour trading volume for spot and futures only reaching USD 13.64.
CoinDesk previously reported that OPNX’s trading volume in the first 24 hours was only 1.26 USD. However, OPNX promptly corrected this information. However, shortly after this development, the official Twitter account was suspended.
OPNX in 2022 cryptocurrency bankrupt as a result of the crisis Three Arrows CapitalIt was founded by the leaders behind . Zhu Su and Kyle Davies, along with the other two founders of CoinFLEX, set up the exchange to operate in the market for trading crypto asset claims from bankrupt companies such as FTX, Genesis, Celsius, Voyager, BlockFi and 3AC.
According to the restructuring plan, CoinFLEX and FLEX token Transferred to OPNX. On April 4, the exchange was officially launched and distributed tokens to its users. However, the FLEX token has consistently lost value over the past 24 hours, dropping by almost 30% at one point and currently trading at around $1,759 USD.
Koinfinans.com As we reported, the launch of OPNX faced quite a mixed reaction. While some names expressed doubts about the legitimacy of the platform, others saw it as an opportunity to trade distressed assets. The cryptocurrency market is volatile and unpredictable, and the launch of the exchange highlights the potential risks involved in trading on new and untested platforms.
You can follow the current price action here.