Place/Date: - July 17th, 2019 at 3:15 pm UTC · 3 min read
Contact: shinobi capital, Source: shinobi capital
Back in april 2018, OKEx launched its global utility token gaining the support of approximately 1 million users from around the world and accumulating a trading volume of over 15.6 billion OKB. The instability of the market during last year killed a lot of projects along the way, with the majority of survivors being the ones that were issues or backed up by major exchanges. An incredible example of success is the OKB token issued by OKEx, one of the largest cryptocurrency exchanges by trading volume in the world, which has impressed the market beyond expectations having experienced an increase in the price of 163% since launched. Since its launch, OKB has been put into use in many applications on the exchange, including Happy Friday bonus distribution program, Listing Vote, and the OK Jumpstart token sale platform.
Shinobi Capital, a leading blockchain advisory firm and also an investor in early-stage start-ups, has released its latest evaluation report estimating that the OKB price will grow further to US$30.75, 17 times the current price, by the end of 2020. According to Jason Hill, the founding partner of Shinobi Capital:
“Exchanges tokens will be the powerhouse of the development of the digital asset market and even blockchain technology. Following a series of IEOs powered by exchange tokens in H1 2019, the market is marching to the next round of bull run. 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.”
As stated in the evaluation report, OKB is expected to grow due to different aspects. The first one being its historical trading volume. According to the study made by Shinobi Capital, since January 2019, OKB has gradually moved on from the bearish market in the second half of 2018 and its trading volume recorded a rapid increase, the average daily trading volume climbed from USD 8 million to USD 50 million by early 2019. Moreover, according to the long-term development plan OKEx disclosed, once the OKChain mainnet goes live, the ecosystem will grow significantly, increasing the trading volume. Additionally, the entire market is expected to grow, bringing in an additional factor to take into consideration for the prediction. According to the report:
“We predict that the digital asset market is now at the end of a bear market, and will gradually experience economic recovery and prosperity before the end of 2020. The overall market trading volume and the trading volume of major public chains will show an upward trend.”