The token of the Open Alternate (OX) cryptocurrency platform OPNX rose 50% after a tweet from the arrested co-founder of the trade Su Zhu.
In response to CoinMarketCap knowledge, the OPNX token value rose 50% to $0.0214 simply 20 minutes after Su Zhu’s publish, however has since settled at round $0.01734 cents at press time.
Zhu posted a easy “gm” – an acronym for “good morning” – marking his first X-post since Sept. 29, 2023 the identical day he was arrested.
On the time of writing, the worth of the coin had dropped to $0.01752 with a rise of 24% during the last 24 hours. OPNX hit a 63-day excessive, a value not seen since Su’s arrest on Sept. 29. Nevertheless, OPNX is buying and selling effectively under its all-time excessive of $0.08124 and its value has dropped considerably because the arrest of OX’s co-founder.
Buying and selling volumes for the token additionally elevated by 128% over the previous 24 hours, reaching $7.9 million.
On the finish of Sept. 2023, Zhu was arrested in Singapore whereas making an attempt to go away the nation. Police detained Zhu at Changi Airport as he tried to go away Singapore after issuing an arrest warrant. The order was obtained as a result of he didn’t adjust to a earlier court docket order requiring him to offer data associated to the chapter of Three Arrows Capital.
Three Arrows Capital (3AC) was a $10 billion hedge fund that collapsed in July 2022 as a result of crash of the Terra ecosystem. Zhu and his associate Kyle Davies had been stated to be in hiding from liquidators when Zhu was apprehended, though they had been energetic on social media after 3AC’s collapse. The same detention order was made towards Davies, although his whereabouts stay unknown.