OKEx's OKB Token Price Could See Impressive Growth, Blockchain Investment Firm Predicts

Shinobi Capital, a blockchain investment firm that’s invested in several early-stage start-ups, has predicted the price of OKEx’s OKB token could grow by over 1,500% until 2020.

According to a recently released report, Shinobi Capital sees the price of the OKB token, which can currently be used to settle trading fees, enter token-listing pools, and get rewards, skyrocket from the $1.8 its currently trading at to as much as $30 by 2020.

This, as the firm believes exchange tokens are going to be the “powerhouse of the development of the digital asset market and even blockchain technology,” according to its founding partner Jason Hill.

Shinobi Capital’s report reads:

…(I)t is expected that by the end of 2020, the price of OKB will reach USD30.75 and its market capitalization will be about USD7.068 billion. There is a significant growth lag in OKB at this stage, and the potential of price growth needs to be further released.

The report’s look into the cryptocurrency exchange’s token pointed out two important factors regarding its future performance. These were the overall state of the cryptocurrency ecosystem, OKEx’s buyback and token burning program, and the development of its OKChain blockchain.

Currently, OKB has various applications. According to the cryptocurrency exchange’s website the token’s can benefit from it through its trading platform by getting access to designated merchant privileges like better liquidity, having discounted fees on OKEx, and receive feed collected on a “Happy Friday Program” that sees OKEx share 50% of the fees it collects every Friday with OKB holders.

In the future, OKB holders will also have access to OKEX’s decentralized cryptocurrency exchange OKDex. These use cases have helped the token’s price grow over 170% this year, from $0.66 to little over $1.8 at press time.

Hill added that following the launch of various tokens through initial exchange offerings (IEOs) in the first half of this year, the market is ready for a new bull run. He stated:

OKB, as a market leader of exchange tokens, is also welcoming its own uptrend. Backed by a number of use cases and a large user base of OKEx, OKB has demonstrated a huge potential of growth.

Shinobi Capital’s report also goes into other major blockchain platforms, including EOS, Binance’s BNB, and TRON, by establishing a comparative evaluation model between them and the OKB token.

As reported on CryptoGlobe, OKEx itself published a blog post in April of this year arguing that while bitcoin isn’t cash, it could serve as a better store of value than gold. Per the exchange, a store of value is worth “what people are willing to pay for it.”

 

Important information: please remember that the value of investments, and any income from them, can fall as well as rise so you could get back less than you invest. If you are unsure of the suitability of your investment please seek advice. Tax rules can change and the value of any benefits depends on individual circumstances.

 

Crypto Market Update: Focus on BTC, ETH, BCH, BNB, XMR, and DASH

Siamak Masnavi

This article provides a quick overview of how the crypto markets have been doing—with the focus on Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Binance Coin (BNB), Monero (XMR), and Dash (DASH)—over the past 24-hour period.

Overall, September 17th is proving to be a bit of a mixed day, with 12 of the top 20 cryptocurrencies (by market cap) in the red at press time (around 06:25 UTC).

BTC-USD

BTC-USD 24 Hour Chart - 17 Sep 2019.png

The bad news is that are still waiting for the launch of Bakkt's physically-delivered daily and monthly Bitcoin futures contracts. So, Bitcoin is still trading mostly sideways, hovering around the $10,300 mark. The good news is that the launch is expected to take place in less than one week (i.e. on September 23), as was confirmed by this tweet that Bakkt sent out on September 16:

ETH-USD

ETH-USD 24 Hour Chart - 17 Sep 2019.png

The Ether (ETH) price continues its upward movement toward the $200 mark, up another 2.24% in the past 24-hour period (making it up 4.32% in the past 7-day period). What may have helped the Bitcoin price yesterday (September 16) is the announcement by crypto payment processor BitPay that in the near future it will be possible for its customers to accept Ether payments for purchases of goods and services. Also, the BitPay wallet will support Ether.

Ethereum co-founder Vitalik Buterin had this to say about the news:

"It is exciting to see BitPay leading the way in integrating Ethereum into global payment systems. This truly opens up a new world of possibilities for the Ethereum ecosystem, and together we can continue to be a leading innovator for real world use cases for cryptocurrencies.

BCH-USD

BCH-USD 24 Hour Chart - 17 Sep 2019.png

On Monday (September 16), Bitcoin.com announced that it had entered into a strategic partnership with Taiwanese smartphone manufacturer HTC, as a result of which the Bitcoin.com wallet will come preinstalled on HTC's current and upcoming blockchain phones (Exodus 1 and Exodus 1s):

BNB-USD

BNB-USD 24 Hour Chart - 17 Sep 2019.png

Although BNB is currently in the red, this may change during the next several hours once all of the six mini announcements that Binance plans to make today have come out:

The first of the six announcements that Binance CEO Changpeng Zhao (aka "CZ") referred to is the addition of support for Cosmos (ATOM) to Binance's Margin Trading platform:

XMD-USD

XMR-USD 24 Hour Chart - 17 Sep 2019.png

OKEx Korea announced on Monday (September 16) that it intends to delist all five privacy coins it is currently supporting, i.e. XMR, DASH, ZEC, ZEN, and SBTC, due to concerns that these cryptocurrencies do not allow it to implement FATF's so-called "travel rule". 10 October 2019 is the date on which transaction (i.e. trading) support ends.

DASH-USD

DASH-USD 24 Hour Chart - 17 Sep 2019.png

Since OKEx Korea's delisting announcement mentioned DASH, you would expect it to be down today, just like XMR. However, it is not, and that is very likely due to the fact that today (September 17) is the day that trading in DASH is expected to start on Coinbase Pro on/after 09:00 PST (16:00 UTC) provided that there is sufficient liquidity.

Featured Image Court: Photo via Pixabay.com