OKB (OKB) Price Today: OKB Live Price, Charts, News - Crypto.com Norway

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Explore OKB in Onchain

OKB may be available for swapping via Onchain, our official decentralised product. Try it now.

Explore OKB in Onchain

OKB may be available for swapping via Onchain, our official decentralised product. Try it now.

OKB price history

Time	Price	Change
Today	$639.55	0.00%
1 day	$651.83	-$12.28 (2.11%)
1 week	$649.46	-$9.91 (1.81%)
1 month	$659.38	-$19.83 (3.61%)
1 year	$411.85	+$227.70 (53.67%)

About OKB

OKB Price Summaries

OKB's price today is $639.55, with a 24-hour trading volume of $234.46M. OKB is -1.85% in the last 24 hours. It is currently -2.94% from its 7-day all-time high of $658.92, and 3.40% from its 7-day all-time low of $618.52.OKB has a circulating supply of 21M OKB and a max supply of 21M OKB.

What is OKB?

OKB is the global utility token of the cryptocurrency exchange OKX (formerly known as OKEx). Its purpose is to connect digital asset projects with OKX users and professional investors, building an ecosystem that supports the development of blockchain technology and the digital asset sector.

A Brief History of OKB

OKB's history is tied to the founding of OKX. Mingxing "Star" Xu founded the Chinese cryptocurrency exchange Okcoin in 2013, then launched a separate Malta-based exchange, OKEx, in 2017. In July 2017, OKEx held an Initial Coin Offering (ICO) that raised over $100 million and led to the launch of OKB as an ERC-20 token for paying transaction fees on the exchange. Jay Hao became CEO of OKEx in November 2018.

Initially, OKB's total supply was 1 billion tokens. Since May 2019, OKX has been conducting a quarterly token buyback-and-burn program to reduce the circulating supply. In September 2020, the exchange burned 700 million unissued OKB tokens, bringing the total supply down to 300 million. The mainnet of OKChain (now known as OKC), the exchange's proprietary blockchain, was launched between December 2020 and January 2021. In January 2022, OKEx rebranded to OKX to reflect its expansion beyond a simple exchange.

How OKB Works

OKB is the native token of the OKX ecosystem and plays a central role in its operations. As a major crypto spot and derivatives trading platform, OKX offers various financial services, and OKB has several uses within this system. The token is designed with a deflationary mechanism, as OKX uses 30% of its spot trading fee income to buy back and burn OKB tokens every three months, a process that is reported on the official website. The network's layered design also aims to improve scalability and security.

OKB is a global utility token that allows users to access a range of features, including paying trading fees and participating in the network's governance. Users can also earn passive income by holding OKB on OKX's platform through features like OKX Profit and the OKX Jumpstart token launch platform.

What is OKB Used For?

OKB is a versatile token with several use cases within the OKX ecosystem:

* **Transaction Fee Discounts:** Holding OKB allows users to receive a discount on trading fees, with the discount level determined by the amount of OKB they hold. This incentive structure is divided into "normal" and "VIP" user levels.

* **Governance:** OKB holders have voting rights and can participate in the platform's administration.

* **Access to OKX Jumpstart:** Owning OKB provides users with access to new token sales and projects on the OKX Jumpstart platform.

* **Passive Income:** Users can stake their OKB tokens to earn rewards and participate in various earning opportunities within the OKX ecosystem.