Key Takeaways

• The OKB coin is the native token of the OKX crypto exchange.
• Having hit an all-time high in February, investors will be hoping that the news of OKX being Manchester City’s sleeve sponsors will help OKB reach new levels.
• Can it ever get to three figures, or is it now as good as it gets for OKB?

The OKX exchange and its OKB coin have been in the news lately. 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. 

But what is OKB (OKB)? How does OKB 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 5 July 2023.

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. 

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

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.

2023 has seen 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.

Although it has dropped down, it is still operating around the sort of levels it reached in early May 2021 and, on 5 July 2023, it was worth about $43.20. 

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 $2.5 billion, making it the 29th-largest crypto by that metric. 

OKB Price Analysis

Although OKB has been pretty successful in 2023 so far, it still took a hit following the news that the SEC was taking legal action against Binance and Coinbase. On 5 June, it was worth $45.78, but it dropped about 16% to $38.46 on 12 June. It managed to recover by more than 20% to $46.48 on 22 June. 

OKB has since fallen by about 7%. That said, its current price is more than 12% higher than its June low. While it is worth over 5% less than its pre-crash levels, it has risen by 66% since the start of the year. 

OKB Coin 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 5 July 2023. 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. 

First, CoinCodex  said in its short-term OKB price prediction that things would get worse before they got better. The site thought the coin would fall to $40.26 by 10 July before recovering to $58.07 by 5 August. The technical analysis was CoinCodex was bearish, with 19 indicators sending downbeat signals compared to just nine making bullish ones. 

OKB Forecast for 2023

The OKB price prediction for 2023 from DigitalCoinPrice  saw the coin hit new heights, reaching $85.67 this year, while Bitnation  argued it would trade at $64.86 this year and PricePrediction.net  said it would be worth $54.33.

OKB Forecast for 2025

In terms of an OKB price prediction for 2025, Bitnation claimed it could reach $151.35 and DigitalCoinPrice had it at $136.86. PricePrediction.net, meanwhile, said it would stand at $120.39 in two years time. 

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 $772.16 then, while Bitnation thought it would trade at $376.56 and DigitalCoinPrice had it reaching $443.26 at the start of the next decade.

Is OKB a Good Investment?

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

FAQs 

How many OKB are there?

On 5 July 2023, 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 in two years time.

Keep in mind, though, that OKB has never traded in three figures before. Its highest ever price, $58.46, came in February this year. 

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.