OKB breaks its own price record after it managed to surpass the $22 price point and it seems that this year turned to be exceptional for the token. The creation of the OKEx exchange, OKB is a utility token that broke all previous records as we can see more in our altcoin news.
With it being the key component of the OKEx ecosystem, OKB breaks its own records in the past few months. January was no different as OKB followed the launch of OKT mining and positive market sentiment which means it established a new record by attaining a huge value of $9.50 from $7.55 before ending on January 2021 with a price level of $5.7. It then carried out with the momentum in February to record a new ATH with more than 200% of the previous value.
OKB holders in the OKEx ecosystem as eligible to receive some privileges including the 40% discount on trading fees, Jumpstart token sales access, and even more. These tokens can be used to pay for products and services on other OKEx partner websites. The rising value of OKB can be attributed to other real-world use cases even outside of the OKEx ecosystem. The platform added another feature for token holders that can stake their OKB tokens in liquidity pools to earn rewards. The staking rewards are paid out in OKT which is a native token of the OKExChain public chain designed to cater to the requirements of the DeFi apps and trading-focused services.
OKT is not to be confused with OKB as the previous governance token for the OKEx chain whereas the latter is a global utility token for the exchange’s ecosystem. Apart from the increasing adoption, OKB Buy-back and burn program is key in sustaining the token value as OKEX bought back and burned about 14.5 million coins to throttle the supply and increase value. OKex also conducts various promotional campaigns and trading competitions to encourage more users to trade on the platform. Now the exchange is offering rewards of up to $80 for new users that will join. The value of the token is expected to continue the upward trajectory as the platform introduces new features and forges partnerships with other key players in the industry.
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