Crypto traders and investors alike can leverage the upcoming bull run season to invest and earn huge returns on a wide range of crypto assets. However, traders can only reap huge rewards if they invest in the right crypto projects. Due to the existence of several cryptocurrencies today, this could prove difficult. One crypto asset that has been generating a lot of buzzes in the crypto community over the past few weeks is the OKB token. What is the OKB token? And what are its uses? This article will provide answers to those questions. Additionally, this article will take a look at the potential for growth for the OKB token. We will also make a comparison of this token with other exchange tokens. In conclusion, we will provide a price prediction for this asset and explain why we believe it to be a good investment option for crypto traders.
OKB Token
OKB is a utility token that the OK Blockchain Foundation launched in March 2018. The OK Blockchain Foundation Founded the OKEx crypto exchange in 2017. As a result, the OKB token serves as the native token for the OKEx crypto exchange. However, the OKB token greatly differs from the OKT token. The OKT token is the native digital asset for the OKExchain.Currently, the OKB token has a circulating supply of about 265,115,438 tokens, while its total supply is capped at 300,000,000 tokens. Additionally, the token has a market cap value worth over $5 billion. In terms of its growth, OKB has experienced significant growth since the start of this year (2021).Since the launch of the token, the coin price has remained negligible. However, by the turn of 2021, OKb experienced a major increase in value. As of October 26 2020, the OKB coin price stood at $4.66. However, the coin saw a growth in its value and reached an all-time high of $44.17 by May 21, 2021. However, the token’s value has dropped, and the token price now stands at the $20 to $25 range.
OKB Token Use Case
As the native token on the OKEx exchange, the OKB token has several unique use cases on the platform. For example, holding the token allows OKEx users recee discounts when trading on the platform. However, the amount of discount holders receive is based on the number of OKB tokens they hold. OKB holders can also stake the OKB token to earn rewards on the platform.The OKB token also serves as the native token for the OKDex platform. OKDex is the a decentralized exchange that is built on the OKchain to offer decentralized trading opportunities to crypto traders. As it native token, the OKB token is used for paying transaction fees and offering staking opportunities to users. Additionally, the token is can be used for lending and borrowing purposes on the OKDex platform.
Endorsements and Partnerships
As the native token for the OKEx exchange, OKB serves as the main utility token on the exchange and benefits from endorsements and partnerships that come to the exchange. Since its launch in 2017, OKEx has forged several partnerships with top platforms in the crypto space. Currently, the exchange has a partnership with Bittorent, QLC Chain, Tripio, True chain, and Certik.
OKEx also has a partnership with Advcash, a payment platform that combines crypto, fiat, and prepaid card transactions. This partnership means that users on the platform can now purchase cryptocurrencies on the exchange using their debit and credit cards.
These partnerships show OKEx to be a solid project that is widely accepted in the crypto community and poit to a general acceptance of the OKB token by investors and traders alike.
Comparison Of OKB With Other Exchange Tokens
There are several crypto exchanges with native tokens of their own. In comparison with these tokens, the OKB token performs excellently well. Let us examine this token with the Binance Coin, the native token for the Binance exchange.OKB performs well in comparison with the Binance Coin. Similar to BNB, the OKB token is available in a wide range of crypto wallets. Currently, the OKB token is available on Coinomi Wallet, COBO Wallet, BuyUCoin Wallet, Infinito Wallet, and many others. Similarly, the Binance coin is also available on crypto wallets like Meta Mask, Trust Wallet, Math Wallet, Binance Extension Wallet, MEW Wallet, and many others.Furthermore, the OKB token serves as the native token for the OKEX crypto exchange and OKDex platform. Similarly, BNB serves as the native token for the Binance exchange and the Binance Dex platform.Similar to the Binance token, OKB has seen a massive increase in its price since the beginning of this year. However, due to Binance status as the leading crypto exchange in the world, the BNB coin experienced a higher price move over the last ten months. However, the OKEx exchange continues to perform excellently among other crypto exchanges and offers many unique features to crypto traders and investors on its platform.
Price Prediction For The OKB Token
In the coming bull run, we expect the OKB token to experience increased growth due to its use case. This belief is also supported by the OkChain development team’s proposed move to migrate the OKB token to the OKChain mainnet from the ERC-20 network. As soon as the move is completed, the OKB token will become the native token for the OKChian network.In this capacity, its use case will increase and it will be used to pay transaction fees on the OKchain. It will also be used as a payment option on decentralized applications (dApps) created on OKchain. This particular use case makes it a viable investment option for crypto traders and investors.
Future of OKB Token
In the last bull run OKB experienced a massive increase in price due to its use case and massive acceptance among the crypto community. As a result, we expect to see more increases in its price value in the next bull run. However, we must must clearly state that our views on the future price of the OKB token is purely speculative. Therefore, we encourage readers to carefully examine the viability of this token before investing their funds.
