After increasing 600%, OKEx’s OKB retains 322% of the gains made
2017 is the year of the ICO trend, 2018 is the year of waiting and hope in the Bitcoin ETF. In 2019, at the beginning of the year, there is a trend of native tokens on cryptocurrency exchanges. Mid-year is the time of the IEO trend, so AZCoin News does not need to mention much about it anymore.
Today, we will focus our discussion on the native utility tokens from the top exchanges in the world, that is, a trend that started in 2019. And even though the trend has passed, some of the native utility tokens from the top exchanges can keep most of the profits they have earned over the past year, especially OKB of OKEx.
Native tokens have been a hit in the market
In the first half of 2019, most cryptocurrencies gained significantly. For example, BTC has increased by over 300%, ETH has risen by 250%, and LTC has risen by 400%. Meanwhile, native tokens have a more significant increase in price.
For example, BitMax (BTMX) of BitMax.io has soared 900%. Meanwhile, Binance Coin (BNB) of the Binance exchange has increased by nearly 640%. OKB of OKEx was a bit inferior, only gaining more than 600%. However, in terms of year-to-date (YTD), OKB ranks first among all exchange tokens because it can keep 322 percent of the profits earned. Meanwhile, for the BTMX, this ratio is 244.5%, and BNB is 232%.
Source: OKB/USD by TradingView
The efforts of OKB are primarily from OKEx
According to Jay Hao, CEO of OKEx, part of OKB’s success in the past year came from its efforts to bring OKChain to the mainnet. Currently, this Blockchain infrastructure is in the final testing phase and will be released soon.
“There is a substantial misplacement of resources around the world where 69% of the global population, around 1.7 billion people, are unbanked. As a result, the OKChain is expected to help the unbanked by providing them with basic financial services to achieve financial inclusion,” Hao said.
When investing in OKB, it means that investors have put their faith in OKEx and see the value of OKB in the future. OKEx will endeavor to maintain the utility of OKB and will continue to expand as it represents an integral part of the OKEx ecosystem. Hao asserted that:
“We are developing a series of use cases with our partners in many fields, such as cybersecurity, finance, lifestyle services, and more. Now you can top up your mobile, fuel card, book your hotel stay, or purchase gears for your online games with OKB on tens of platforms. You can even buy OKB with some of the fiat currencies on select platforms now. I can promise you there will be more use cases to come.”
Moreover, the “buy-back and burn” program implemented by OKEx in May could also push OKB prices higher based on the supply and demand economic model. To date, OKEx has burned nearly 14 million OKBs, accounting for 4.66% of the total supply.
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