On August 15, OKX made a huge announcement about reducing tokens, burning almost $26 billion worth of OKB. Since that point, we’ve seen the token shoot up by 380%, now priced around $234. Still, it doesn’t seem to get the attention that other big-name projects do. BingX has introduced OKB with an impressive APR of up to 100%. Sounds too good to be true, right?
While a lot of folks are focused on quick trades, OKB's consistent growth shows the strength of deflationary tokenomics and smart strategies from exchanges. In a market where excitement often overshadows the real deal, OKB is quietly rewriting the rules.
The bigger question now is: could just buying and holding OKB for the next six years really change your financial situation?
This kind of question when directed at altcoin with decentralized project, we would speculate on metrics and so on.
But if we are talking about CEX owned coin you'd think deeply about the performance of the exchange moving forward.
The burning was a good catalyst to pump the price, but we don't know how OKB performs in long term whether it can be as good as binance.
Not to mention there's decision making by OKB that can determine the price.
Not surprised by the jump. It actually took too long. It was one of the tokens that was meant to rival or follow the footsteps of BNB. The other I remember was Kucoin Shares, but maybe it has just failed to live up to the expections.
That token burn definitely triggered the upward surge, but I think it will a saturation point in the near future where it can barely move. Just look at BNB today vs back then when it was so volatile.
Possible. But you have to invest only what you can afford to lose. With the rise that it did after burning and reducing the supply, it did really helped the token. I have noticed that growth but having no capital to buy it. I just missed the train. I've got some of these exchange tokens like BNB. And I am optimistic with the tokens from the exchanges because they have the utility and so, if I am going to hold them and I have some money and I plan for the next bull run, then I will make sure that the money I invest on it won't be in need immediately.
But after the burning and it's huge uptick on the price, it did go down, isn't it?
So it just shows that perhaps it just was a hype and the only best token back up by an exchange is BNB? I have nothing against OKB, but it seems that just like Bitcoin, BNB is the first one and the price mover, that's why the price remains at least good to hold in the next bull run as compare to other crypto that just follow or copied it.
I wouldn't bet my money on OKB, I would rather invest it on Bitcoin on BNB and hold for the next 6 years, in my opinion.
It could not. Simply buying and holding OKB won't transfer your financial strength. Why do we need to buy a token that already pumped so hard? Why don't you stick to the token that potentially get the same pump as OKB? You have tokens from so many reputable exchange sites that are still undervalued.
Just go to those undervalued tokens, and forget this OKB token as it's already pumped so high, but if you're still believing it can go to the 1k, then just take it.
This based on my exp, and i think you need to think for twice before try to entry on OKB.
It doesn't make sense mate, I mean just because of the huge spike in the price because of their token burning that you thought that they are a good hold in the next six years? I'm sorry but that is just a wrong mentally and I don't know when you started your crypto journey to see this kind of holding.
So just like what others have said, it's a bad move, there could be other altcoins that could really be a good for long term. I won't suggest any, you really have to do your own work and investigation.
But in any case you wanted to be secure, then there is Bitcoin.
Taking an insight about what happened to Binance Smart Chain then there is every possibility that Okx coin could do more better than any other coin, and of course the burn down of their total supply would gradually increase the price Okx coin because it's limited supply couples with how others are configured on their chain.