OKEx OKB/USD is a spot, derivatives, and cryptocurrency exchange.
The OKB token is the native exchange token of OKEx, which provides discounts on the trading fees.
The $100 million fund allocation in Asia as a catalyst for growth
OKEx has set up a $100 million fund to bring cutting-edge technologies and blockchain possibilities within the region.
Furthermore, from the start of November, OKEx will celebrate the annual Satoshi Month event to commemorate the founder of cryptocurrency, Satoshi Nakamoto.
Additionally, the crypto exchange will support high-quality projects with great potential through the OKEx Blockdream Ventures fund.
The CEO of OKEx, Netero Dai, said that they are proceeding towards the next industrial revolution, where communities and infrastructure are important elements.
Should you buy OKB (OKB)?
On November 1, OKB (OKB) had a value of $21.37.
To get a better perspective of what kind of value point this is for the token, we will be going over it’s all-time high value as well as its performance in October.
The all-time high value of the OKB token occurred on May 3, when the token had a value of $44.01.
This gives us an indication that at its ATH, the OKB token was $22.64 or 105% higher in value than its point on November 1.
Its lowest point of value in October occurred on October 13, when the token decreased to a value of $15.16.
Its highest point of October was on October 22, when the token reached a value of $28.83.
This means that throughout the span of October 13 to October 22, the token increased in value by $13.67 or by 90%.
However, from October 22 to November 1, the token decreased by $7.46 or 25%.
According to data from IntoTheBlock, OKB saw $13.09 million in transactions greater than $100,000 within the span of the past seven days.
Additionally, throughout that same span of time, OKB saw $3.19 million in total exchanges inflows as well as $6.73 million in total exchanges outflows.
With all of this said, November could mark a potential push in value for the OKEx exchange and, in turn, the OKB token, especially with its $100 million investment fund for the advancement of blockchain technology in Asia.
In terms of its growth, we can expect it to climb 15% in value up to $24.57 by the end of November. However, if the token drops below $20, it might be worth reconsidering.
The post Should you buy OKB after the OKEx $100 million fund allocation? appeared first on Invezz.
from Market Analysis – Invezz
