OKB Token Price Today
As of February 8, 2023, the latest price of OKB stands at $45.51 USD, equivalent to ¥309.02 CNY.
👉 Track real-time OKB price fluctuations
Key metrics:
- 24-hour price change: Decreased by $1.31 (-2.97%)
- Market cap: ¥76,217,973,961 CNY
- Circulating supply: 246,638,974 OKB
- Total supply: 300,000,000 OKB
- CoinMarketCap ranking: #11
Understanding OKB Token
OKB is the native utility token of OKX, one of the world’s leading cryptocurrency exchanges. Developed by the OK Blockchain Foundation, OKB serves as a global digital asset integral to the OKX ecosystem. Initially launched as an ERC-20 token, OKB is slated for migration to OKChain, OKX’s proprietary blockchain.
Key Features of OKB
- Platform Integration: Facilitates transactions, voting rights, and fee discounts on OKX.
- Token Utility: Used across 52+ applications, including payments, travel, and decentralized finance (DeFi).
- Governance: OKB holders participate in exchange listing votes (1 OKB = 1 vote).
Project Background
OKB’s Economic Model
- Repurchase & Burn: OKX allocates 30% of trading fees to buy back and burn OKB quarterly, enhancing its scarcity.
- Full Circulation: In February 2020, 700 million unissued OKB were permanently burned, making OKB the first fully circulating exchange token.
OKChain Ecosystem
- Decentralized Exchange (DEX): OKB will transition to OKChain, enabling seamless trading on OKX’s DEX.
- Interoperability: OKB bridges centralized and decentralized services within the OKX network.
FAQs
1. How can I buy OKB?
OKB is available on OKX and other major exchanges. Purchase it directly via spot trading or peer-to-peer (P2P) platforms.
2. What drives OKB’s value?
OKB’s price correlates with OKX’s trading volume, platform adoption, and periodic token burns that reduce supply.
3. Is OKB a good investment?
While OKB offers utility within OKX’s ecosystem, always conduct independent research and assess market risks before investing.
4. How does OKB’s burn mechanism work?
OKX uses 30% of trading fees to repurchase OKB from the market and destroys these tokens quarterly, creating deflationary pressure.
Conclusion
OKB remains a pivotal asset in the OKX ecosystem, combining utility with a deflationary model. For real-time updates, monitor its price movements and platform announcements.
Disclaimer: This content is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry risks; invest prudently.
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