Making a name for itself along with OKB Coin, OKB is a worldwide utility token that allows OKX users to access various features of the crypto exchange. OKX burns tokens every three months to add value to OKB and make the digital currency more attractive to its holders, and reports this burning on its official website.
What is OCD (OCD)?
OKB is a global utility token of the cryptocurrency exchange OKX. OKB aimed to establish an OKX ecosystem that supports the development of blockchain technology and digital assets industry by linking potential digital asset projects with OKX users and professional investors.
What is OKX? OKX Exchange
In order to better understand the working system of OKB, it is necessary to have knowledge about the OKX stock market and its history. Mingxing Star Xu founded Okcoin, a Chinese cryptocurrency exchange, in 2013. Then, in 2017, it established a separate exchange called Malta-based OKEx for the exchange. As a result, OKEx launched OKB, an ERC-20 token used to pay trading fees on the exchange. In November 2018, Jay Hao joined as OKEx CEO.
OKEx has identified the total supply of the token as 1 billion OKB, with 300 million OKB in circulation following the launch of the OKB. Since May 2019, the exchange has been running a quarterly token buyback and burn program to reduce the circulating supply of the token. The exchange stated that the program increases the value of OKB and encourages users to hold tokens. OKEx used 30% of the revenue from spot transaction fees to buy back coins.
OKEx launched the testnet for OKChain, the exchange’s proprietary blockchain, in February 2020. In September 2020, the exchange burned 700 million OKB coins that had not been issued since its ICO and removed the previously burned OKB coins, reducing the total supply to 300 million.
OKEx launched OKChain’s mainnet, which was renamed OKC, between December 2020 and January 2021. During this launch period, a proportional amount was awarded to OKB holders who staked their tokens through OKEx’s OKX Jumpstart token launch feature.
On January 18, 2022, OKEx was rebranded as OKX. “We removed the ‘E’ in our name because we are so much more than just an exchange,” Hao said about the rebranding. said.
OCD Market Data
OKB market data is usually available on a cryptocurrency trading platform or a financial data site. Market data includes information such as price, volume, aggregate supply, highest and lowest price. In other words, the total OCD transaction volume, value and price made in a period can be interpreted based on all these data. At the same time, how much is OCD? The answer to the question is also included in the market data analysis.
How Much Is OKB Coin Supply?
The supply of cryptocurrencies refers to the amount of that currency available in the market. The amount of supply is usually determined during the mining process and is reduced at regular intervals over time. This may mean that the supply of crypto assets is deflationary and prices will decrease over time.
The supply issue can also affect the value of the currency. For example, if the supply of a cryptocurrency is very high and demand is low, the value of that currency may also decrease. Likewise, if supply is low and demand is high, its value can rise.
While OKB’s total supply is recorded as 300,000,000, the current 24-hour trading volume is 32,565,438 USD.
What is OCD ATH Level?
ATH, short for “All Time High,” means that a cryptocurrency has reached its highest level in terms of market cap. For example, Bitcoin’s ATH is Bitcoin’s historical peak in terms of market cap, and this value may change over time. ATH can be used to measure the value of a cryptocurrency and is usually directly proportional to the popularity and demand of a Chinese or altcoin.
OCD highest ATH level was recorded as 44.01 USD on May 3, 2021.
What is OCD ATL Level?
ATL, short for “All Time Low”, is where a cryptocurrency reaches its lowest level in terms of market cap. For example, Bitcoin’s ATL is the lowest point in Bitcoin’s historical decline in terms of market cap, and this value can change over time, just like ATH. ATL can be used to measure the value of a cryptocurrency. It is also often inversely proportional to popularity and demand.
OCD lowest ATL level was determined as 0.580 USD on 14 June 2019.
Where to Get OCD?
Cryptocurrencies can usually be traded on a cryptocurrency exchange. Cryptocurrency exchanges are platforms that serve over the internet and are places where users can buy and sell. Users who want to trade with cryptocurrencies must first become a member of one of the exchanges in question, and then deposit money to the exchange and perform transactions.
In order to buy OKB, it is necessary to trade on the exchanges where OKB Coin is sold.
Which Exchange is OKB Coin on?
OKB Coin can be purchased on the following exchanges:
- BitMark
- LBank
- OKX
On the other hand, popular trading pairs for OKB in the market include OKB/USD, OKB/TRY and OKB/EUR.
How to Get OCD?
In order to purchase OKB, first of all, it is necessary to be a member of a cryptocurrency exchange. Then, by depositing money on the exchange, you can get the desired cryptocurrency. Cryptocurrencies can have high volatility and carry high risks. Before trading cryptocurrencies, it is recommended that you have sufficient knowledge of the markets and understand the risks of the cryptocurrency you intend to trade.
How to get OCD in 5 steps?
- One of the exchanges where OKB Coin is located should be selected.
- You must be a member of the stock exchange with KYC information.
- Money must be transferred to the account.
- Using the buy cryptocurrency menu of the exchange, the OKB coin must be selected and a purchase order must be entered.
- OKB coins in the account can be held on the exchange or in hardware wallets.
What Does OCD Do?
The OKB token plays a very important role in the OKX ecosystem. Because OKB offers certain privileges to its users. It allows users to enjoy up to 40% discount on transactions, depending on the number of coins they own. On the other hand, users are divided into two different groups by status: normal and VIP.
While the OKB stock owned by a user determines the level of a normal user, VIP users get a level according to their trading volume. Commissions are changed daily and users receive discounts based on their level.
OKB Coin investors;
- Calculates and pays transaction fees.
- Provides access to voting and administration on the site.
- Rewards after staking.
OKB Token holders also have the following privileges:
- Service fee discount
- Suffrage
- Opportunity to participate in projects on OKX Jumpstart
OKB Coin Reviews
OKEx exchange is one of the largest exchanges in the world, ranking third in liquidity and fourth in trading volume based on current performance. OKB Token is used on-chain to facilitate spot trading, derivatives trading and simultaneous development of various scalable applications.
While there are users who see the purchase of OKB Coin as risky, there are also investors who encourage the purchase by citing its advantages. Users’ up-to-date comments can be found on various cryptocurrency exchanges’ sites or forums.