Home / Price Predictions / OKX Price Prediction 2024: OKB Rises During Downturn

OKX Price Prediction 2024: OKB Rises During Downturn

Last Updated 3 hours ago
Peter Henn
Last Updated 3 hours ago

Key Takeaways

  • The OKB coin is the native token of the OKX crypto exchange.
  • Having hit an all-time high in early 2023, investors hoped that being on Manchester City’s sleeves would have helped OKB.
  • One price prediction says it may reach $218.81 next year.

The OKX Exchange and its OKB coin have been in the news last year. The Maltese company made the headlines when it announced  that it would be the sleeve sponsor of Champions League winners Manchester City. 

This news came as OKB enjoyed a profitable 2023. Having avoided being named as an unregistered security, it hit record levels in February, having been one of the better crypto performers throughout 2022. 

Even if OKB’s price has declined gradually over the last fortnight or so, it is still in a comfortable position.

OKX Echange did not immediately respond to a request for comment.

But what is OKX Exchange (OKB)? How does OKX Exchange work? Let’s see what we can find out, and also take a look at some of the OKB Price Predictions that were being made as of April 17, 2024.

OKB Price Prediction 

With that all out of the way, let’s take a look at some of the OKB price predictions that were being made as of April 17, 2024. It is important to remember that price forecasts, especially for something as potentially volatile as crypto, very often end up being wrong. Also, keep in mind that many longer-term crypto price predictions are made using an algorithm, which means that they can change at a moment’s notice. 

2024 2025 2030
Prediction #1 $125.69 $148.97 $429.76
Prediction #2 $161.23 $218.81 $506.72
Prediction #3 $76.52 $117.36 $756.67

First, CoinCodex  had a short-term OKX Exchange price prediction, which said that the token would be somewhat volatile in the coming weeks, with it dropping to $59.38 by April 22 and dropping to $55.34 by May 16. The site’s technical analysis was neutral, with nine  indicators sending bearish signals and 20 making bullish ones.

OKB Forecast for 2024

The OKB price prediction for 2024 from DigitalCoinPrice  saw the coin hit new heights, reaching $125.69 this year, while Bitnation  argued it would trade at $161.23 this year and PricePrediction.net  said it would be worth $76.52.

OKB Forecast for 2025

In terms of an OKB price prediction for 2025, Bitnation claimed it could reach $218.81 and DigitalCoinPrice had it at $148.97. PricePrediction.net, meanwhile, said it would stand at $117.36 next year. 

OKB Forecast for 2030

Moving on to an OKB price prediction for 2030, PricePrediction.net was the most bullish site, saying it would be worth $756.67 then, while Bitnation thought it would trade at $506.72 and DigitalCoinPrice had it reaching $429.76 at the start of the next decade.

Google Gemini AI Price Prediction for OKB (as of April 17)

Google’s Gemini AI platform gave the following price prediction for OKB on April 17. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve. Additionally, artificial intelligent price predictions are predicated on past performances and are in no way entirely accurate.

Short Term (Next three months)

  • Expected price: $67
  • Factors to Consider:
    • Market sentiment: Overall positive or negative sentiment toward cryptocurrencies can significantly impact prices.
    • Regulations: Government regulations and policies can affect the adoption and use of cryptocurrencies.
    • News and events: Major news events or developments within the OKB project or the broader cryptocurrency market can significantly impact the price.
    • Supply and demand: Changes in the supply and demand of OKB can influence the price.

Medium Term (Next six months)

  • Expected price: $75
  • Factors to Consider:
    • Market trends: Analyze broader cryptocurrency market movements and potential regulations.
    • OKB’s utility and adoption: Evaluate how OKB is used within the OKEx ecosystem and its potential for wider adoption.
    • Overall economic conditions: Consider global economic factors that might influence the cryptocurrency market.

Long Term (Next five years)

  • Expected price: $100
  • Factors to Consider:
    • Market sentiment: Overall market sentiment towards cryptocurrencies can significantly impact individual coin prices.
    • Regulations: Regulatory changes and interventions by governments can affect the entire cryptocurrency market.
    • Technological advancements: New technological developments within the OKB ecosystem or the broader blockchain industry can influence its price.
    • Adoption and usage: Increased adoption and usage of OKB for its intended purposes can drive its price up.

Recent Updates From OKX

On February 4, 2024, OKB revealed  its partnership with Dackie Swap, “marking a pivotal moment on our path to success.”

OKB Price History

Let’s now take a look at the OKB price history . While past performance should never be taken as an indicator of future results, knowing what the coin has done can help give us some very useful context when it comes to either making or interpreting a OKB price prediction. 

OKB first came onto the open market in May 2019, when it was worth about $1.60. It ended up moving slowly upwards over the course of its first 18 months or so, but in early 2021, it experienced a surge as the market grew. 

On 3 May that year, it reached a high of $44.17. It declined overall as 2021 progressed and it closed the year at $28.82. 

In 2022, OKB did not do quite as well, but it was still one of the better-performing cryptos in a year marked by market crashes. Although the coin spent time below $10 in June and August, it was able to make a recovery over the following months.

While its year-end figure of $26 marked an annual loss of nearly 10%, when put into the context of a year when crypto as a whole fell by more than 60%, it doesn’t seem quite so bad.

OKB in 2023 and 2024

2023 saw OKB perform very well indeed. The coin maintained its upward momentum, reaching record levels, until it hit an all-time high of $58.46 on 18 February.

OKB price history
OKB price in 2023 and 2024 | Credit: CoinMarketCap

It then ended 2023 at $54.56, before starting a downtrend in early 2024 that brought the coin to $50.21 on February 26, 2024. It reached an all-time high of $73.83, on on March 13, before retracing a bit on April 17, 2024, to $57.90.

At that time, there were 60 million OKB in circulation, out of a total supply of 300 million. This gave the coin a market cap of about $3.47 billion, making it the 28th largest crypto by that metric. 

OKX Price Analysis

OKX Price Analysis
OKX has fallen since its March high

On March 13, the price of OKB reached an all-time high of nearly $74. This was most likely the culmination of a five-wave cycle that started in March 2019. Since then, we have seen a downturn, as a breakout attempt was made around $50. 

Even though the price bounced, we could expect to see it falling below $50 on this downward turn. If this happens, a breakout will be confirmed, and with it the conclusion of OKB’s bullish stage. 

In the bearish scenario, after this breakout, a retest of the prior support for resistance could bring OKB to recovery at $60 again. After getting rejected a sharper downturn at the third wave of a three-wave correction. 

Is OKB a Good Investment?

OKB has performed very well overall last year. Coming into 2023 as one of crypto’s better performers in the disastrous year of 2022, it reached record levels.

Although it has dropped over the last few days, its recent performance has enough behind it to make it one to watch.

On the other hand, OKB does not have its own whitepaper, which might serve as a red flag to potential investors.  Seeing as people, as a rule, like to know what they are putting their money into, the lack of any technical documentation could put someone off. 

As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in OKB.

Will OKB go up or down?

No one can really tell right now. While the OKB crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up. 

Should I invest in OKB?

Before you decide whether or not to invest in OKB, you will have to do your own research, not only on OKB, but on other, related, coins and tokens such as Binance (BNB) or Cronos (CRO). 

Either way, you will also need to make sure that you never invest more money than you can afford to lose.

Who is the Founder of OKB?

Mingxing ‘Star’ Xu founded Okcoin, a Chinese cryptocurrency exchange, in 2013.

Who Owns the Most OKB (OKB) Coins?

On April 17, 2024, one wallet held 52.31% of the supply of OKB.

Richest OKB Wallet Addresses

As of April 17, 2024, the five wallets with the most TIA were

  • 0x6cc5f688a315f3dc28a7781717a9a798a59fda7b. This wallet held 156,943,172 OKB, or 52.31% of the supply.
  • 0xff1ee8604f9ec9c3bb292633bb939321ae861b30. This wallet held 92,187,383 OKB, or 30.73% of the supply.
  • 0x2a3dd3eb832af982ec71669e178424b10dca2ede. This wallet held 233,728 OKB, or 0.08% of the supply.
  • 0x2c8fbb630289363ac80705a1a61273f76fd5a161. This wallet held 105,568 OKB, or 0.04% of the supply.
  • 0x926ad34e8de047036ab018ce76af6d6de120a813. This wallet also held 51,242 OKB, or 0.02% of the supply.

Fact Box

Supply and Distribution Figures
Total supply 300,000,000
Circulating supply (as of April 17, 2024) 60,000,000 (20% of total supply)
Holder distribution Top 10 holders owned 94% of total supply, as of April 17, 2024.

From the Whitepaper

In its technical documentation, or whitepaper , OKB says it is “the utility token of the OKX ecosystem, and holders of OKB will enjoy a series of privileges on the OKX platform with a total supply of 300 million. The distinguished OKB holders will enjoy many privileges including trading fee discounts, OKX Jumpstart, OKB savings, and more. OKX will always be dedicated to providing first-class services to OKB holders and expanding the use cases of OKB all over the globe.”

OKB Explained

Perhaps the most crucial part of the crypto economy is the cryptocurrency exchange. Since crypto has no underlying value, having a place where coins and tokens can be bought, sold, and traded helps give them value.

OKX, formerly called OKex, is a cryptocurrency exchange based in Malta and serving as a kind of sister exchange to China’s OKCoin. 

The platform makes use of its own blockchain, called OKX, in order to support its system.

OKX, which was founded in 2017 by Chinese crypto entrepreneurs Mingxing “Star” Xu and Jay Hao, has its own native crypto, known as OKB 

How OKB Works

People who hold OKB are able to vote on changes to the exchange, and they can also get a discount on transactions on OKX.

The system also allows people with OKB to get passive income via the Earn program, and they are also to invest their coin’s in the Jumpstart pool, which helps develop new crypto projects. 

It is used to pay for transactions on the exchange, and it can also be bought, sold, and traded.

OKB Attention Tracker

OKB Google search volume
OKB Google search volume. | Credit: Google

Here is a chart for the OKB Google search volume for the past 90 days. This represents how many times the term “OKB” has been Googled over the previous 90 days. 

FAQs 

How many OKB are there?

As of April 17, 2024, there were 60 million OKB in circulation out of a total supply of 300 million.

Will OKB reach $100?

It might do. Bitnation and DigitalCoinPrice thought it would reach that level either next year or in 2025 at the latest, while PricePrediction.net said it would happen next year.

Keep in mind, though, that OKB has never traded in three figures before. Its highest-ever price, $69.24, came on March 15, 2024.

What is OKB used for?

The OKB coin helps power the OKX crypto exchange. It can be used to get money off trading fees and to vote on changes to the platform. It can also be bought, sold, and traded on exchanges.

Disclaimer 

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.