The OK Blockchain Foundation and the Maltese cryptocurrency exchange OKEx collaborated to launch OKB. This OKB price prediction reveals the dynamics of the cryptocurrency, the details of the project and its price movement.
The OKEx exchange, which is among the biggest in the world, offers a huge variety of trading pairs and is ranked in the third position in liquidity and fourth position in trading volume. Although there exist some significant distinctions, OKEx and the dominant cryptocurrency exchange Binance can compete with each other in many ways. The trading services and options of the company are narrowly focused. The OKEx platform also comprises its own cloud mining service.
Since the debut of OKEx in 2017, it has emerged to be a top trading floor globally. The website went up during the spring of 2017 and developed from the original OKCoin website (operating since 2013 in China). While OKEx focuses on cryptocurrency trading with a built-in API for algorithmic trading, OKCoin is now centered around the exchange of cash for cryptocurrencies. The exchange also provides users with a multi-currency wallet and margin trading features.
The revolutionary software platform called Open Knowledge Blocks (OKB) provides its users with the building blocks they need for extracting value from open data quickly. It is a collaborative platform for the shared usage of independently created knowledge blocks. Without it, utilizing Open Data will require a high level of expertise and a significant amount of effort to be spent on designing procedures, models, and algorithms.
There might even be some of them already present. To perform their job, the experts develop algorithms that eventually get discarded. The network’s origin is the worldwide utility cryptocurrency known as OKB. The main goal of OKB is to connect potential digital asset projects with users of OKEx and seasoned investors.
With the ultimate goal of making knowledge more flexible, effective, and really open, OKB may keep their work accessible to other users. The OKB platform is a framework with a number of modules that are constantly added and connected to one another. Users of OKB can create applications by utilizing shared traits among the various components. It is known as a “circuit board.”
The connected modules, collectively known as Blocks, are the smallest unit of calculation or change. Algorithms, models, procedures, and other tools called “blocks” turn rich and varied raw datasets into processed data, analytics, and real knowledge that can give applications more instant insight.
A block can communicate with other blocks or the outside world (through data streams) through a number of ports. Each port has the ability to accept or send one or more values. These are the very minimal units of information. They may be connected to another port, a fixed value, or a value input by the user. We’ll use the term “relationships” to describe these connections.
OKB Fundamental Analysis
The OKEx ecosystem heavily relies on the OKB token. Users can use it to get up to a 40% discount on purchases on the basis of the number of tokens owned by a user. Regular and VIP users are separated into two status categories on the exchange. VIP customers receive a level based on their trading volume, while regular users receive a level based on their OKB stock. According to their respective level, users receive a discount on the commissions, which are updated daily.
The coin uses a proof-of-stake (PoS) consensus and is an ERC-20 token. Prior to switching to its own blockchain, the OKExChain, OKB had worked on the Ethereum blockchain. It is a fairly transparent platform. As OKEx maintains a dependable and stable trading ecosystem, developers affirm that security is their first priority. For protection, they make use of distributed clusters, load balancing on servers, and other technologies.
In addition, OKEx has created hot and cold wallets, with the latter being one of the safest ways to store cryptocurrency. Hot wallets, however, demand the highest level of security and capability. In order to facilitate quick, convenient, and secure transactions, OKEx added a semi-autonomous multi-signature capability.
To make consumer’s life easier, OKB has worked with a number of businesses and neighborhoods. These include Litex for cellular fuel cards, Tripio for hotel stays, and TrueChain for retail transactions. Other collaborations are QLC Chain for mobile communication service redemption with OKB and QLC redemption and Fish Chain for file and data transfer services.
OKB is also dedicated to improving cybersecurity by integrating security measures into its ecosystem, such as Slowmist for popular digital asset exchanges, crypto wallets, public chains, smart contracts, etc., and Beosin and Certik for smart contracts verifications. OKEx and Bitpie-Multichain wallet have teamed up to give OKB consumers access to a wider variety of DeFi services. The Bitpie-Multichain wallet makes it simple to administer OKB. For borrowing cryptocurrency, a multichain wallet Kcash, Linkeye, and Molecular Future are used.
How does OKB work?
If platform users own OKB tokens and those tokens are used in OKEx Earn, they can earn passive income. Allocating funds on the OKEx Jumpstart platform is another utility for the OKB token. Right after registering on the website, participation in Jumpstart is possible; while MixTrust processes the sales.
By omitting the need for middlemen, OKB Network offers solutions directly to customers while also doing it for free. With privacy and speed being two core elements of the OKB network, the entire data is cryptographically safeguarded using a blockchain network while yet allowing producers to keep all earnings.
The analytical results are always concurrent and relevant for the maximum value by giving access to a variety of data repositories, including static and time-dependent repositories with both open and private sources. One of the main applications of this capability is supporting and accelerating Internet of Things (IoT) applications. The ‘No-code’ entry barrier offers a user interface that is easy to use and intuitive. This allows the analysts to quickly design new blocks of processes or combine currently existing blocks to create new ones without the need for programming knowledge.
Users can quickly develop processes, such as data models and algorithms in the form of standard blocks to extract value from raw data by reusing, modifying, and combining “blocks” from other disciplines and applications. As an illustration, valuable numerical models and algorithms, created initially for environmental analysis to be adapted and reused for applications in smart cities.
This significantly increases the range of reusable resource-saving models, algorithms, etc., for data processing. It is available in private and public repositories through an open ecosystem marketplace for these blocks.
OKB Tokenomics
The original asset of the OKExChain is called OKB (the OKEx blockchain). On the chain, the use of the OKB token enables spot trade, derivatives trading, and the concurrent creation of numerous scalable applications. A layered architecture also speeds up scalability, decreases consensus times, and increases security. The OKEx utility token, or OKB, gives customers access to the unique features of the cryptocurrency exchange. The coin is used to determine and pay trading commissions. It gives users access to platform voting and governance. Users are also rewarded for holding OKB.
There are one billion OKB in the market for allocations, such that fifty percent of tokens are reserved for airdrops and rewards, while forty percent are dedicated to founders and projects. The remaining ten percent is distributed among investors. Out of these one billion tokens, only three hundred million tokens were the total supply for 2021, while seven hundred million additional tokens were to be released in 2022. In 2022, three hundred million tokens will be reserved for public awards. A hundred million tokens were to be distributed to OK Blockchain Foundation and early investors each. The remaining two hundred million tokens stay with the founding team.
To minimize the supply, OKX frequently burns OKB tokens. Increasing the value motivates users to keep holding tokens. The platform repurchases OKB from the 300 million in circulating supply using 30% of the profits from OKX spot trading fees. They also burn tokens every three months by sending them to a locked burning address. Reports can be examined following each burning.
OKB Future Plans
The cryptocurrency exchange OKX is going to bet more on Manchester City in its future plans. The business disclosed that it had achieved an agreement to broaden its current collaboration. It will take on the role of the club’s official training kit partner for the 2022 to 2023 campaign. Some of the Manchester City players will also appear in OKX’s crypto education content as part of the agreement.
OKX is pushing ahead with expansion plans despite a downtrend. In addition to its Manchester City partnership, the company’s director of financial markets told CoinDesk recently that it plans to grow its workforce by 30% with a goal of reaching a staff of 5,000. Similarly, Fidelity Digital Assets and Binance have also announced similar intentions in the past few months.
OKX’s investments in its partnerships and its team are market agnostic because its principles and beliefs haven’t changed, according to OKX’s chief marketing officer Haider Rafique. They wish to select partners who can reflect their focus. They choose partners carefully with mutual goals. That is why they did not spend on bull runs related to unsustainable numbers of sports deals. Their recent partnership is with Dubai Virtual Asset License, as announced by their official Twitter handle. They will bring a new wave of technology, finance, and innovation by collaborating with this hub. Their aim is to make people aware of trade and transactions.
🇦🇪 We are excited to work with local policy makers in bringing the next wave of technology, innovation & open #crypto markets to people in Dubai — a global financial & technology hub 🌐.
🤝 Our focus will be to educate and help people trade and transact responsibly. ⤵️
— OKX (@okx) July 25, 2022
OKB Price Analysis
The OKB price was $14.74 on July 26, 2022, with a trading volume of $10 million. The CoinMarketCap currently ranks it as number 52. It has a circulating supply of sixty million OKB coins and a market cap of $884.6. It can have sustainable price growth in the long term.
Rank: 40
OKB Price Prediction – Crypto Academy
Here we have predicted the minimum, average, and maximum possible prices of OKB during the years 2022 to 2030 on the basis of OK blockchain characteristics.
OKB Price Prediction 2022
Our in-depth technical study of OKB’s historical price data indicates that in 2022, the price can at least hit $12. With an average selling price of $15, the OKB price can go as high as $18 because of the asset emerging as a top trading floor globally since its inception.
OKB Price Prediction 2023
In 2023, we expect the price of OKB to drop to a minimum of $17. In 2023, the average price of OKB might be $21, with a maximum price of $25 by providing excellent liquidity and trading volume.
OKB Price Prediction 2024
We expect the price of OKB to at least reach $20 in 2024, according to forecast prices and technical analysis. With an average selling price of $25, the OKB price can go as high as $30 through improved cybersecurity by integrating security measures into the ecosystem.
OKB Price Prediction 2025
In 2025, we predict the cost of an OKB to be at least $23. The OKB price can go as high as $42 due to a 40% discount on purchases on the basis of user’s tokens, with an average price of $33 throughout the period of 2025.
OKB Price Prediction 2026
The price of OKB is anticipated to drop as low as $32 in 2026. Our research indicates that the OKB price could rise as high as $53 by maintaining a dependable and stable trading ecosystem, with an average possible price of $40.
OKB Price Prediction 2027
Our in-depth technical analysis of the historical price of OKB indicates that in 2027, the price of OKB can be at a minimum of $44. With an average trading value of $55, the OKB price value can go as high as $69 because they frequently burn OKB to increase its value.
OKB Price Prediction 2028
In 2028, we expect the price of OKB to drop to a minimum of $55. With an average trading price of $70 during the period of 2028, the OKB price may go as high as $85 by gaining an agreement for broadening its collaboration with Manchester City.
OKB Price Prediction 2029
The future and technical analysis predict that the price of OKB can at least reach $68 in 2029. The OKB price can range from $88 on average to a maximum price value of $100 by growing its workforce by 30% and getting a staff of 5,000.
OKB Price Prediction 2030
In 2030, we expect that the price of OKB might be at least $75. With an average trading price of $95 in 2030, the OKB price may go as high as $115 by cryptographically safeguarding the entire data using a blockchain network, giving all the earnings to the producers.
OKB Price Prediction – Market Overview
Given below are the prediction for OKB’s price in the upcoming years by famous platforms and websites that give knowledge and price predictions of cryptocurrencies.
PricePrediction.net
PricePrediction.net analysts expect OKB price to reach the highest level of $16.11 at the end of 2022. The average price of OKB (OKB) by that time can be $14.48. By their estimation for the next five years, they predicted that the coin could effortlessly reach the price of $62.08.
According to their analysts and experts, OKB has an extraordinary potential to hit new price heights, making it hit the highest price of $441.31 by 2030.
Digital Coin Price
Digital Coin price analysts expect the lowest price of OKB to be $20.62, and the highest price to be $82.58 in the future. In a year from now, the price can lie between $20.62 to $23.41, with an insignificant rise in price. The price after three, four, and five years can be $25.45, $28.62, and $41.05, respectively. The prices can be $52.04 and $63.38 in six and seven years from now.
Tech News Leader
Tech News Leader analysts predict the OKB price to go as high as $22.09 in a year and $66.44 in five years. There is a higher chance of the worth of OKB to be valued at $413.85 in ten years. The value of an OKB can surpass the lowest price of $400.02 and the highest price of $463.16 during the next eight to ten years.
Coin Codex
Coin Codex tech sector growth prediction estimated the OKB price to be between $ 19.07 and $ 33.05 in 2024, between $24.42 and $73.33 in 2025, and $31.26 and $162.66 in 2026. This indicates a price rise of 121.27% in 2024, 390.83% in 2025, and 988.82% in 2026, under the best conditions during these years.
Wallet Investor
Wallet Investor analysts consider OKB to be a bad investment with no good returns. In the year 2022, the price of an OKB coin can be $18.2, and in 2023, it can be $12.84. By the end of years 2024 and 2025, the price can further fall to $1.28 and $0.82. The price can devalue in 2026 and 2027 with a worth of $0.44 and $0.24, respectively.
How to Buy OKB
The most straightforward way to buy OKB would obviously be buying it from its own platform, that is, OKX.
Step 1: Create an Account.
First of all, go to the OKX home page and head towards the top right of the screen to click the “Sign Up” button. Enter your email address to automatically get a six-digit number to the entered email address. Enter the code into the “Input Verification Code” field.
Also, provide a secure and safe password with various numbers, letters, and symbols for your account. You have to remember it and avoid sharing it with anyone. Before you can start the trade of a cryptocurrency on OKX, you have to first log in to your account. So click ‘Login’ to the upper right-hand corner of the OKX homepage.
Step 2: Select your Payment Method.
After logging in to the OKX account, click on Buy/Sell in the upper left corner of the screen to select a payment method. There are three basic methods available that are Quick trade, P2P trade, and Block trade.
The easiest method to buy crypto on OKX is using the Quick Trade option. To use it, select the cryptocurrency to be bought and the fiat currency to be spent. Then, enter the accurate amount of the fiat or cryptocurrency and choose ‘Quick Trade’ as your payment method.
If using the P2P trade, select its option in the submenu to move to its trading section. Then click on the required cryptocurrency from the currency dropdown menu. If you want to use the Block Trade, select it from the submenu of the P2P trading section.
The only fiat currency available for this trade is the Chinese renminbi. In Block Trade, you have to click on ‘Buy’ to check the offers available for trade or select ‘Order Book’ to see all available buy and sell orders.
Step 3: Buy OKB
Now you have to follow a few steps to confirm your trade according to the payment method selected. If you have chosen the quick trade option, you have to select your currencies for sale and confirm the purchase. The currency purchased will automatically go to your OKX account.
If using the P2P Trade, select the buy and sell order, enter the desired amounts of assets for trade, and confirm your transaction details. While using Block Trade, select a relevant buying offer. The trading page would have only listed the offers with a minimum amount of 0.1 million CNY. After confirming the transaction details, click on the ‘Buy OKB’ button to continue.
Frequently Asked Questions
Is OKB a Good Investment?
Yes, OKB is a good investment, continuously burning the tokens to increase value and pushing ahead with expansion plans.
Can OKB Reach $100?
OKB can reach $100 by 2029 by increasing its workforce by 30%.
Where to Buy OKB (OKB)?
The simplest and most commonly-used way to buy OKB coins is through OKEx. Other exchanges include FTX, Gate.io, Hotbit, Uniswap (V2), HitBTC, ProBit Global, BiONE, LBank, Hotcoin Global, and Coin Ex.
Takeaways
- The OK Blockchain Foundation and the Maltese cryptocurrency exchange OKEx collaborated to launch OKB.
- OKX exchange is among the biggest in the world, offering a huge variety of trading pairs, and is ranked in the third position in liquidity and fourth position in trading volume.
- The OKEx platform also comprises its own cloud mining service.
- Since the debut of OKEx in 2017, it has emerged to be a top trading floor globally.
- The exchange also provides users with a multi-currency wallet and margin trading features.
- With the ultimate goal of making knowledge more flexible, effective, and really open, OKB may keep their work accessible to other users.
- OKB is a good investment, continuously burning the tokens to increase value and pushing ahead with expansion plans.
- The OKB price can go as high as $18 in 2022.
- The OKB price value can go as high as $69 in five years from now.
- OKB can reach $100 by 2029.
- The simplest and most commonly-used way to buy OKB coins is through OKEx.