Mingxing Xu, also known as “Star” Xu, the founder of OK Group and crypto exchange OKX, has revealed his expectations for 2023. In a recent tweet, he expressed hope that the next 2023 will be more optimistic than 2022. Here are the details…
Star Xu is optimistic for the crypto industry
In his tweet, “Star” Xu talked about several key events that turned the space upside down and put selling pressure on the crypto market. These were the well-known things: the bankruptcy of the Three Arrows Capital fund (3AC), the FTX exchange and SBF, the collapse of the LUNA token, the liquidity problems Genesis faced… cryptocoin.com As we have reported, the latest collapse of the FTX giant was one of the events that shook the market the most. The bankruptcy pushed Bitcoin below $16,573 from its local high of $18,200, which it managed to reach in early November. Ethereum dropped below $1,200 and many other cryptocurrencies also fell.
But “Star” Xu is optimistic about the upcoming 2023. He tweeted that while the crypto industry took many hits in 2022, there were positive developments in the tech-focused space as well. Xu talked about Ethereum’s Merge, proof-of-stake (PoS) transition, implementation of SegWit, DeFi and others. He added that all of this is pushing the cryptocurrency market to grow towards a trillion USD value. This is the main reason why he hopes next year will be better than the present.
Luna,3AC,Ftx,Genesis…A lot of accidents make crypto guys feel frustrated.But look back to the history of crypto,it’s a technology driven industry,Pow,ETH,SegWit,Defi ,ZK drive the whole market cap grow to trillion size. I’m optimistic to the 2023.
— Star (@starokg) December 31, 2022
Elon Musk started following OKX on Twitter
Meanwhile, Elon Musk started following OKX, founded by Star Xu, on Twitter in mid-December. This stunned the cryptocurrency world. The native token of the trading platform immediately rose from $22.97 to $24.15. In addition, the trade volume also showed a great increase and jumped by approximately 3 million dollars. Musk is known especially as a supporter of crypto, Dogecoin and Bitcoin. He announced last year that he owns Bitcoin, Ethereum, and DOGE.
Before finalizing its deal to buy Twitter in late October, it announced its plan to add Dogecoin as a payment/tip option on this social network. He also suggested adding the coin as a means of payment for Twitter Blue. Still, he had never shown any interest in crypto exchanges before. Musk is more widely known as Tesla’s CEO.
He also founded SpaceX, Neuralink, The Boring Company. Now he runs Twitter. It seems uncertain that Musk will maintain his position as Twitter2’s CEO. Because, in his tweets, Musk gave signals that he would leave his post. In the fall, it launched a limited edition of a collection perfume called “Burnt Hair”, which can be purchased with Dogecoin through The Boring Company.
