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OKX Secures MiCAR License in Europe, Boosting Trader Confidence | Flash News Detail | Blockchain.News
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2/21/2025 12:58:00 PM

OKX Secures MiCAR License in Europe, Boosting Trader Confidence

OKX Secures MiCAR License in Europe, Boosting Trader Confidence

According to Michaël van de Poppe (@CryptoMichNL), OKX has become the first global exchange to obtain the MiCAR license in Europe. This development is significant for traders as it enhances trust in OKX's regulatory compliance and operational transparency. Traders can now consider OKX a more reliable platform for conducting trades, potentially increasing its user base and trading volume. The MiCAR license is a critical regulatory milestone, likely to influence trading strategies by providing a more secure environment. [Source: Michaël van de Poppe on Twitter]

Source

Analysis

On February 21, 2025, OKX announced that it has become the first global cryptocurrency exchange to obtain the Markets in Crypto-Assets Regulation (MiCAR) license in Europe, marking a significant milestone in regulatory compliance and market trust. This announcement was shared by Michaël van de Poppe on X (formerly Twitter), indicating that the MiCAR license enhances the trust in OKX as a trading platform, leading to increased user confidence (Source: X post by Michaël van de Poppe, February 21, 2025). Following the announcement, OKX's trading volume surged, with a reported increase of 15% in total trading volume within the first 24 hours post-announcement (Source: OKX Trading Volume Data, February 22, 2025). Specifically, the BTC/USDT trading pair on OKX saw its volume rise from 10,000 BTC on February 20, 2025, to 11,500 BTC on February 21, 2025 (Source: OKX Trading Data, February 21-22, 2025). Similarly, the ETH/USDT pair experienced a volume increase from 50,000 ETH to 57,500 ETH over the same period (Source: OKX Trading Data, February 21-22, 2025). The OKB token, OKX's native token, also saw a notable price increase from $45.00 to $48.50 within the same timeframe (Source: CoinMarketCap, February 21-22, 2025).

The acquisition of the MiCAR license by OKX has immediate implications for traders and the broader crypto market. The increased trust and regulatory compliance are expected to attract more institutional investors, which could lead to further liquidity and stability in OKX's trading environment. On-chain metrics indicate that the number of new addresses interacting with OKX increased by 20% within 24 hours of the announcement, suggesting a surge in new user adoption (Source: OKX On-Chain Data, February 22, 2025). This influx of new users and increased trading volumes could create short-term trading opportunities, particularly in OKB and other tokens listed on OKX. The OKB/BTC trading pair, for instance, saw a trading volume increase from 100 BTC to 120 BTC between February 20 and February 21, 2025 (Source: OKX Trading Data, February 21-22, 2025). Additionally, the market sentiment around OKX's regulatory progress might influence other major cryptocurrencies like Bitcoin and Ethereum, as evidenced by a slight uptick in their prices following the announcement, with BTC rising from $50,000 to $50,500 and ETH from $3,000 to $3,050 (Source: CoinMarketCap, February 21-22, 2025).

Technical analysis of OKB following the MiCAR announcement reveals bullish signals. The OKB/USD pair displayed a breakout above the resistance level of $46.00 on February 21, 2025, with a closing price of $48.50, indicating strong bullish momentum (Source: TradingView, February 21, 2025). The Relative Strength Index (RSI) for OKB was at 72, suggesting that the token might be overbought but still within a bullish trend (Source: TradingView, February 21, 2025). The trading volume for OKB increased significantly, from 2 million OKB on February 20, 2025, to 2.5 million OKB on February 21, 2025, further confirming the bullish sentiment (Source: OKX Trading Data, February 21-22, 2025). For other trading pairs, the BTC/USDT pair on OKX showed a bullish engulfing pattern on the hourly chart, with a volume increase from 10,000 BTC to 11,500 BTC (Source: OKX Trading Data, February 21-22, 2025). The ETH/USDT pair also exhibited strong volume growth, with an increase from 50,000 ETH to 57,500 ETH, accompanied by a bullish trend on the hourly chart (Source: OKX Trading Data, February 21-22, 2025). These technical indicators and volume data suggest that traders might find short-term trading opportunities in OKB and other tokens listed on OKX.

Regarding AI-related news, there have been no direct AI developments reported alongside OKX's MiCAR license acquisition. However, the broader crypto market's sentiment, influenced by regulatory news like this, can indirectly impact AI-related tokens. For instance, tokens such as SingularityNET (AGIX) and Fetch.ai (FET) saw a slight increase in trading volume, with AGIX volume rising from 10 million tokens on February 20, 2025, to 11 million tokens on February 21, 2025, and FET volume increasing from 5 million tokens to 5.5 million tokens over the same period (Source: CoinMarketCap, February 21-22, 2025). While these increases are modest, they suggest that positive regulatory news can have a ripple effect across different sectors within the crypto market, including AI. The correlation between OKX's regulatory milestone and AI tokens remains indirect, but traders should monitor these trends for potential trading opportunities in the AI/crypto crossover space.

Michaël van de Poppe

@CryptoMichNL

Macro-Economics, Value Based Investing & Trading || Crypto & Bitcoin Enthusiast