OKB Spiked 25% in Past 24 Hours, Showing Continuous Uptrend and Strong Growth Potential
July 22, OKB, the platform token issued by OKEx, a world-leading digital asset exchange rose by 25% in 24h price to $2.6515. it is observed that the price of OKB has been in continuous growth since July 11 affected by the bullish run of Bitcoin, showing strong uptrend of 68.78% after breaking the yearly-high record of $2.6.
(Monthly price trend of OKB on CoinMarketCap)
OKB rose by 25% in 24H right before OK JumpStart 5th token sale
OKB is the only token accepted for subscription and settlement of OK Jumpstart, which plays a decisive role in OK Jumpstart. To be eligible to participate in OK Jumpstart token sale, everyone is required to hold at least 500 OKB for 30 days. The more OKB you hold, the greater allotment chance you can get.
Apparently, the token sale scheme of OK Jumpstart increases the holding amount and utilization rate of OKB. According to OKEx official, the 5th token sale project on OK Jumpstart, Eminer (EM) will be launched on July 31, 2019. There will be two sessions of subscription, and participators need to hold at least 500 OKB for recent 30 days. The allotment coefficient will be assigned based on the amount of OKB holding.
As an innovative financial service platform for global blockchain hash rate, Eminer service platform aims to re-define the mining industrial ecosystem based on blockchain hash rate. By analyzing the performance of previous projects on OK Jumpstart, the tokens price has rose by 5-10 times after launched on OK Jumpstart. Therefore, investors who want to seize the opportunity of 5th token sale project may begin to hold OKB from now.
OKB surged abruptly after 3 months’ sideway trend
After breaking the high point of $2.4 in early April, OKB showed a pullback and horizontal price movement at around $1.5 for nearly 3 month. Generally speaking, after a long-term sideway trend, there are two conditions will happen to a token’s price: plummet or skyrocket. Obviously, OKB is the latter.
（OKB daily trading volume from December, 2018 to April, 2019）
Reviewing the historical data of OKB trading volume, it is observed that OKB has broken out of the long bear market in second half 2018 and shows a rapid increase in trading volume since January, 2019. In the year 2019, the daily trading volume of OKB has leaped from 8 million USD to the present 50 million USD. According to Coinmarketcap, OKB 24h trading volume recorded 190 million USD, which indicates the highly active of trading behaviors.
Except for the capital inflow and 5th project on OK Jumpstart, this price-rising is also affected by the newly implemented Buy-back & Burn scheme of OKB. OKEx officially announced that it will use 30% of the transaction fee from spot market to buy-back OKB and send them to a ‘black hole’ address to burn. Noting that OKEx has burned 500,000 OKB in the first week, users have calculated the monthly burn amount from August, 2019 to December, 2020 (in the following chart). It shows that OKEx will burn 63,520,000 OKB, which means the circulation of OKB will be reduced to 230 million. By reducing the total supply in circulation, OKB will show enormous potential of growth in long term.
OKB is predicted to break $30 until 2020 due to its comprehensive eco-development
Backed by a number of use cases and a large user base of OKEx, OKB is building its ecosystem including mainnet OKChain and decentralized exchange OKDex, on which OKB will become the only native token to vote for his favorite super node candidate and settle transaction fees. In the long term, the growth roadmap of OKB is distinct and worth expecting.
Shinobi Capital, a blockchain investment firm that’s invested in several early-stage start-ups, has predicted the price of OKB token could grow by over 1,230% to $30.75 until 2020. The analysis result still needs to be verified, but it is beyond all doubt that OKB will be the next dark horse in platform token.
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