Cosmos-Based Altcoin Defies Crypto Crash, Surges Nearly 40% This Week Amid Flurry of New Partnerships

An altcoin built on interoperable blockchain Cosmos Network (ATOM) is surging despite the latest crypto market doldrums.

The native crypto asset of smart contract platform OKX Chain (OKT) has seen a significant price increase in the last seven days as it inks new partnerships, defying the latest bear market sparked by the downfall of prominent crypto exchange platform FTX.

OKT, an Ethereum (ETH) Virtual Machine (EVM)-compatible layer-1 protocol built on Cosmos, rallied from a low of $19.54 on December 10th to a weekly high of $27.28 on December 16th, marking a 39.61% surge in less than seven days.

The altcoin has given up some of its gains and is trading at $24.32 at time of writing.

The 77th-ranked crypto asset by market cap recently announced a host of new collaborations with other digital assets and crypto firms, including the eco-friendly proof-of-stake meme asset Chihuahua Chain (HUAHUA), social crypto gaming network Candy Club, decentralized crypto exchange (DEX) network Lovely Swap, and market analytics protocol Nansen.

Investors can now transfer HUAHUA and OKT between the Chihuahua Chain and the OKX Chain, and use OKT tokens to play over 677 Candy Club games. Investors can also buy, sell and trade OKT on the Lovely Swap decentralized crypto exchange and keep track of their OKT holdings on Nansen.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/archy13/WindAwake