OKB is a worldwide utility token introduced by the OKX blockchain. It computes and pays trading fees, allows users to vote and administer the site, and rewards users for staking it.
OKB token holders, among other benefits, receive a service fee discount, voting rights, and the option to participate in projects on OKX Jumpstart.
History of the OKB Token
In 2013, Mingxing ‘Star’ Xu founded Okcoin, a Chinese crypto exchange. In 2017, he started OKEx, a separate Malta-based exchange. OKEx conducted an initial coin offering (ICO) on July 24, 2017, raising more than $100 million for the exchange. As a result, OKEx introduced OKB, an ERC-20 token used to pay transaction fees on the exchange.
OKEx set the total supply of OKB at 1 billion OKB at the time of its launch, with a circulating supply of 300 million OKB. Since May 2019, the exchange has been executing a quarterly token buyback and burn programme to lower the circulating supply of the token. According to the exchange, the initiative increases the value of OKB and encourages users to keep tokens. OKEx bought back tokens with 30% of the revenues from spot trading fees. OKEx was renamed to OKX on January 18, 2022.
OKB is one of the few coins that has been seeing consistent upward movement for the last one year despite despair in the crypto market.
OKB saw record high prices, ATH, in 2021, breaching the $44 barrier. It fell to nearly $10 in June 2022 but has been gaining since.
It is currently trading at $29.97. OKB’s price has risen by 30.31% in the last 7 days, by 35.31% in the last 30 days, by 82.62% in the last 60 days, and by 93.64% in the last 3 months. It is up by 9.02% year-to-date (YTD).
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OKB Price Prediction
According to Coincodex’s technical analysis, investor sentiment around OKB is bullish. They predict that the value of OKB may rise by 20.81% and reach $ 36.35 by February 2023.
According to their forecast, OKB’s price may be between $ 29.88 and $ 89.72 by 2024, between $ 38.25 and $ 199.04 by 2025, and between $ 48.96 and $ 441.52 by 2026.
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How much money would you make if OKB hit $100?
Let’s say you invest $100 in OKB today. At the current price, you will get approximately 3.33 OKB coins. If you hold and sell these when OKB hits $100, you could make $330. This means that your $100 investment would yield a 3.3x or 230% return on investment (ROI).
Let’s assume you invest $1000 in OKB today. At today’s market price, you will have approximately 33.36 coins. If liquidated at the price of $100, your $1,000 investment will be worth approximately $3,336. If OKB hits the $100 mark by 2026 (i.e., in the next 3 years), your annualised ROI will be 35.26%.
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