OKB - the native token of the OKEx cryptocurrency exchange

The largest cryptocurrency exchanges have their own tokens, which allow, for example, to reduce fees when trading cryptocurrencies. And virtually all of them are "doomed to success" thanks to constantly stimulated demand. It is no different with OKB - that is native the cryptocurrency of the OKEx exchangewhich we describe in the next installment of our series. Is it still worth investing in?

We are continuing the cycle of the Forex Club portal in which we analyze and describe the largest, highest-valued, most interesting, most developing, advanced and also the most controversial cryptocurrency projects around the world. Today is OKB time - the cryptocurrency of the OKEx exchange, which has an average of PLN 100 billion in daily turnover.

OKEx has been operating since 2013

The OKEx cryptocurrency exchange is one of the first in the world, because it was established eight years ago. It is also one of the largest in terms of turnover as well as registered and active customers. 

Offers cryptocurrency trading, buying them with fiat currencies, spot trading and trading derivatives with use blockchain technology. Currently, the OKEx exchange offers over 400 trading pairs of tokens and futures contracts.

"- Our goal is to support the new economy thanks to blockchain technology. To achieve financial integration, we do not operate as an isolated island. We believe that the key to accelerating market growth requires teamwork, which is why we are joining forces with other industry leaders to initiate new chemistry. " Says Andy Cheung, OKEx chief operating officer. 

OKB - the native token of the OKEx cryptocurrency exchange

The native token of this cryptocurrency exchange appeared in early January 2019. For what? This is obviously an idea to strengthen the OKEx ecosystem. All OKB holders can use it to settle transaction fees on the stock exchange, thanks to which they receive significant discounts. They can also subscribe to new tokens on the OK Jumpstart token sale platform. 

OKB initially operated in the network Ethereum (ERC20), but the token was quickly transferred to OKChain, a blockchain developed by OKEx. 

“The implementation of OKB is just the beginning, which means recognition of our native token and platform by other companies in the industry, and we will continue to explore further possibilities of all kinds of cooperation with other players in the industry. We never rest on our laurels and we invite partners with a similar attitude to cooperate with us "- emphasizes Andy Cheung, OKEx chief operating officer. 

OKB is another example of a native cryptocurrency exchange token that is "doomed to success" - at least this is what the observations of competitors so far show. Just have a look at BNB Faucet - Binance exchange token - which during the year went up by 1925,82%. It works on a very similar, if not identical, principle to the OKB. 

The same is with CRO - Crypto.com exchange token. The last year in his case was - a trifle - 992,34% increase. 

Both also focus on lowering fees for trading on their cryptocurrency exchange. They also allow you to participate in staking and receive new cryptocurrencies. For many people it is simply profitable to buy them, regardless of the price. And the still stimulated demand causes their price to rise, so having them pays off twice.

OKB cryptocurrency quotes

It is no different with the OKB token. As of December 02, 2021, 282 were traded out of a target of 838 units. Each of them is valued at $ 290, which translates into a market cap of over $ 300 billion. OKB can be traded on 000 cryptocurrency exchanges from around the world. The peak of trading took place on May 000, 26,81, when each token was paid $ 7.