This year has been a tough sail for OKB since May 2022, when Terra/Luna implosion caused a cascade of bankruptcies, layoffs, and liquidations. Subsequently, the chain of the unfortunate market and geopolitical events like the Russian invasion of Ukraine, U.S. inflation, and 3AC and Celsius insolvency, has also contributed to the downward pressure on the price of OKB.
With the recent massive downfall of the crypto market caused by FTX contagion, is it possible for OKB to reclaim its all-time high in 2023? Continue with the article to learn about OKB price analysis and prediction by Coinpaper.
Read also: What are the (not so) different types of crypto tokens?
What is OKB?
OKB is the native utility token of OKEx, one of the largest cryptocurrency exchanges in the world. OKB token serves as a means of payment on the OKEx platform and provides users with access to various benefits and services, such as trading fee discounts, airdrops, voting rights, and access to exclusive products and services. One of the key use cases for OKB is paying for trading fees on OKEx. By holding OKB, users can enjoy a discount on trading fees, with the discount rate increasing as the user's OKB balance increases. OKB holders can also use their tokens to participate in various activities, such as token airdrops, trading competitions, and community voting for new listings.
OKB (OKB) price
Currently, OKB Price is USD. OKB has a circulating supply of coins and a total supply of . If you are looking to buy or sell OKB, OKX is currently the most active exchange.
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OKB price prediction 2023
The current market sentiment is full of fear, uncertainty, and doubt (commonly known by the acronym FUD), as fears of FTX contagion mount. At the moment, it’s difficult to assess exactly how much damage has FTX collapse has done to the crypto industry, since some affected crypto companies may be already secretly insolvent due to highly leveraged positions, as we have seen in the aftermath of Terra's implosion.
According to our estimates, it will take months for the full scale of FTX bankruptcy to become clear, so the turning point for the crypto market won’t come before late Q1 to early Q2 2023, although for now, it seems that the industry has absorbed most of the damage.
Another market factor that should be taken into consideration is how successful will be the U.S. Federal Reserve’s efforts to curb inflation. For now, there is reason to believe that Fed is making some progress in its attempts to cool the overheating economy — on November 30, Federal Reserve Chair Jerome Powell announced it’s time to slow the pace of coming rate hikes, which immediately triggered a positive reaction from both crypto and equity markets.
Given the above information, one can easily guess that there will be a considerable divergence between bullish and bearish OKB 2023 price predictions due to multiple unknown factors. For this reason, we estimate that the bullish scenario will see OKB price at $58.52 to $63.17. On the flip side, the unfavorable macro and ongoing FTX bankruptcy process may push the price of OKB to $32.18-$29.91 lows.
OKB price prediction 2024
In 2024, the global macroeconomic backdrop is likely to be more favorable to the crypto market, adding value to OKB (OKB) and other cryptos. However, the possibility of black swan events similar to the collapse of FTX cannot be completely ignored.
Keeping this in mind, we foresee the price of OKB to climb as high as $$72.83, with the more distant prospect of reaching $79.13 in 2024. The bearish scenario is likely to see OKB (OKB) trading between $53.28 and $48.16 in 2024.
OKB price prediction 2025
Since it’s practically impossible to foresee what market factors will influence cryptocurrency prices in 2025, this part of our OKB (OKB) price analysis and prediction is based on pure speculation and observation of OKB historical price movements.
Our OKB 2025 price forecast expects OKB to rally towards $85.92 and reach $93.29 by the end of the year. The bearish scenario would see OKB at $72.85 to $68.47.
OKB (OKB) price prediction 2026
Looking ahead four years, to 2026, Coinpaper's price prediction for OKB is decidedly bullish. In 2026, we expect OKB to reach at least $105.38 before climbing higher to $111.73. In case of bearish scenario, OKB may fall to $82.33.
Is OKB (OKB) a good investment?
Whether OKB token is a good investment for your portfolio, depends on your risk profile and how much you intend to invest, among other factors. For now, given the regulatory crackdown on crypto and troubles at Silvergate Bank, it looks like crypto exchanges’ native tokens may not be the best investment at the moment. If you decide that OKB suits your investment objectives, make sure you conduct a thorough research, read the whitepaper, and keep in touch with the community.
Are you ready to invest in OKB? Very few if any analysts forecast its value going down to zero, although you can’t be sure these days, so make sure you always do your own research before making investment decisions. And keep in mind that cryptocurrency prices can be extremely volatile, so trading crypto always involves a high degree of risk.
You can buy OKB from many crypto exchanges, including OKX
Disclaimer: Coinpaper does not recommend that any cryptocurrency should be bought, sold, or held by you. Always conduct your own research and consult your financial advisor before investing in any digital asset.
Who created OKB?
OKEx as an exchange was founded in 2017 by Jay Hao and Mingxing “Star” Xu.
What was the all-time high for OKB (OKB) ?
The all-time high price of OKB is $ on 2023-02-19