By George Ward
A statistic exists for OKB token holders according to the advanced virtual currency research platform, IntoTheBlock. The platform reported that over 99% of the OKB token holders are in profit.
For context, there are 43,610 OKB holders experiencing gains, while only 262 addresses are incurring losses. OKB is the token allowing users access to special features on the OKX cryptocurrency exchange.
An Impressive Growth In 2023
Although the current price of the OKB token reflects a slightly bearish outlook as it is exchanging hands at $44.02, losing 4.2% within the last day, it has not negated its impressive growth since the beginning of this year.
While it has dipped by only 7.7% during the previous week, the virtual currency has increased in price value by about 95% in the last three months. Therefore, the current decrease may be a relatively mild correction.
The on-chain analysis of OKB is proof of the inherent value of exchange tokens, which undoubtedly drives their widespread adoption. An instance is this OKB which has remained bullish despite the crypto winter.
After FTX’s collapse, investors started searching for similar but better alternatives, and the OKX exchange fits their profile description of what they want. On-chain data shows the OKB token is one of the fastest-growing virtual currencies despite the recent market rout.
Thus, analysts consider this token significant for future growth, having weathered the cryptocurrency winter and positioned more holders in a profitable state.
Will OKB’s Price Ever Reach $100?
The OKX Exchange launched the OKB cryptocurrency with a max of 300,000,000 tokens in supply, of which 60,000,000 are circulating. Hence, the token must grow by almost 2.21 times its present market price to trade at $100,
OKB achieved its peak price of $50 last month, experiencing growth of roughly 3.125 times in 6 months from its lowest price of $16 last August. Given its growth rate of 0.52 times in 1 month, OKB could achieve $100 in less than five months if its performance remains the same.
However, the timeframe may be slightly longer due to market conditions and other economic factors.