Home>Business>OPNX token spikes 50% after Su Zhu unexpectedly posts a ‘gm’ on Twitter

OPNX token spikes 50% after Su Zhu unexpectedly posts a ‘gm’ on Twitter

Open Trade Token (OX), the native token of the crypto chapter claims platform OPNX, spiked 50% simply 20 minutes after co-founder Su Zhu supposedly posted to X (Twitter) for the primary time since his arrest.

On Dec. 1, Su posted a easy “gm” — an abbreviation for “good morning” — marking his first X put up since Sept. 29, the identical day he was arrested at Singapore’s Changi Airport trying to depart the nation.

Within the 20 minutes after Su’s X put up, OX jumped almost 50% to $0.021 and hit a 63-day excessive — a worth not seen for the reason that day of Su’s Sept. 29 arrest, in response to CoinGecko data.

OX token worth with a spike within the minutes after Su’s X put up. Supply: CoinGecko

Shortly after the value peak, OX retraced by round 6%. It is market cap now sits at over $104.5 million.

Su was arrested on Sept. 29 when trying to depart Singapore following a court docket order to ship him to jail for contempt of court docket.

The order was meant to see Su serve 4 months’ imprisonment — which means he wouldn’t be launched till subsequent 12 months, although some have speculated he might have been launched after a pockets labeled “suzhu.eth” believed to belong to Su (although unconfirmed) — became energetic once more on Nov. 29.

OPNX, quick for Open Trade, is a platform permitting for the commerce of creditor claims from bankrupt crypto firms.

Associated: CoinFLEX creditors dissatisfied with restructuring to OPNX: Report

Su and co-founder Kyle Davies based the alternate following the chapter of their $10 billion Singapore-based crypto hedge fund Three Arrows Capital (3AC) — which folded in June 2022.

Su and Davies each initially fled Singapore after 3AC’s collapse. Su returned and Davies is believed to reside on the Indonesian island of Bali.

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