Altcoins: OKB, OKEx- What Is It? - A Deeper Look Into the OKB (OKEx) Platform

Altcoins: OKB, OKEx- What Is It? - A Deeper Look Into the OKB (OKEx) Platform


  • What is The OKB Platform and how does it work?
  • Advantages of the OKB exchange.
  • OKB’s past, present and future price positions.

Read next: Altcoins: Komodo (KMD) - What Is It? - A Deeper Look Into the Komodo (KMD) Platform 

The OKB platform

OKB is a cryptocurrency that was released by the OK Blockchain and Maltese crypto exchange, OKEx. The exchange is one of the largest in the world and is currently ranked third in terms of liquidity, fourth in terms of trading volume the platform also provides a wide variety of trading pairs for its users. OKEx is similar in many ways to the cryptocurrency giant, the Binance protocol, however, there are a few differences separating the two. The OKEx facilitates its own cloud mining services, and the company also has focused reach when it comes to providing trading options for its users.

OKB is the OKEx utility trading token, the token enables the platform's users to access the exchanges special features. The OKB token is used when calculating and paying fees, rewarding its users for holding OKB and to give users access to voting and governance within the platform.

Since its launch in 2017, OKEx has become one of the world's leading trading floors. The platform originally emerged as an offshoot from the original OKCoin platform. The current market capitalisation of OKB is currently surpassing $756 million, there is no maximum supply of OKB tokens, there are however, a current circulating supply of 60 million tokens.

OKB’s uniqueness

The OKB token plays a key role within the OKEx ecosystem, it allows the platforms users to receive a 40% discount on transactions (dependent on the number of tokens the user has). The exchange divides users into two status groups, VIP and regular. VIP users get assigned a level in accordance to their trading volume and Regular users are assigned a level in accordance to their OKB stocks. The commissions are updated everyday and users are awarded a discount dependent on their respective levels.

In addition, it is possible for platform members to earn a passive income on holding their OKB tokens, and their token is involved in the OKEx Earn (the OKEx Earn is a project that helps users earn on their assets). The OKB token also has another purpose, which is to allocate funds to the OKEx Jumpstart platform. Jumpstart participation is only available to users after registration on the site - sales are then made through MixTrust.

Advantages of the OKB platform

  1. Transaction fee discounts, The platform has clearly defined levels based on users’ OKB holdings. The more users are level on, the more transactional discounts they are awarded for their OKB tokens. VIP users get even better discounts and benefits.
  2. Jumpstart sessions, OKEx offers the Jumpstart sessions which is the OKEx tokens sales platform, holders who hold a minimum of 100 tokens for 5 days consecutively will be eligible to participate in the session. Each user's amount they are given after the session is dependent on the OKB amount and for the amount of time the holder held the tokens for.
  3. Designated merchants, When trading occurs, there is often a small amount left over in the wallet which is left unused. To manage this issue, OKEx supports a small-balance conversion, whereby users can convert all the leftover balances into OKB tokens.


Past, present and future prices of The OKB network

In Mid 2019 the price of OKB was low, from there the price rose gradually, reaching its first peak in February of 2020 at a price of $5.86. Thereafter its price continued to rise reaching another higher peak during the first quarter of 2021 at a price of $21.26. Thereafter the price continued to rise again, reaching its all time high of $28.81 in December of 2021. The year 2022 has seen the price of this token fall consistently over the past 7 months.

Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, OKB does fall under this category.

According to some analysts, the future price of The OKB network (OKB) could reach up to $33.94 by 2026 and could see a price of more than $78.97 by 2030 and $8.72. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions.

Altcoins: OKB, OKEx- What Is It? - A Deeper Look Into the OKB (OKEx) Platform - 1 OKB Price Chart


Rebecca Duthie

Rebecca Duthie

Remote Editor and writer Intern

Rebecca has a bachelors degree in Investment Management, a Post Graduate Diploma in Financial Planning and is currently enrolled in a Masters program in International Management with a Specialization in International Finance.