Academy Press Room Article

OKB Becomes the Biggest Winner in Q1 2020

2020.04.16

On April 16, CoinGecko, a third-party market data monitoring agency, released the latest token ranking in terms of price rise. Bitcoin SV topped the chart with a 70% increase while OKB followed closely behind and saw a 65% increase.

source: CoinGecko

“We are glad to witness such extraordinary growth for OKB. As mentioned previously, we want our users to recognize the core value of OKB before they invest in it. With this outstanding growth, I think we are heading towards the right direction,” said Jay Hao, CEO of OKEx. “Moving forward, we will continue to grow with OKB along with expanding its application scenarios.”

OKB is the utility token adopted by OKEx. During Q1 2020, OKEx, the world’s largest cryptocurrency spot and derivatives exchange, launched the testnet of OKChain, its own commercial public chain, and OKEx DEX, the first dApp based on OKChain. At the same time, OKEx announced the burn of the 700 million unissued OKB and promised not to issue any additional OKB in the future, which fused the token to enter the deflation age.

In addition, OKB ecosystem is continuously expanding. As of today, OKB has developed 52 application scenarios internally and externally, covering payment, market data, wallet, lending and wealth management, cybersecurity, travel, lifestyle, and entertainment applications, which allow holders to purchase products or services with OKB. OKB has surged 65% in Q1 and hit a new high of $7.44 on Feb 16, 2020.

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Disclaimer: This material should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. Trading digital assets involves significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.

About OKEx

The world’s largest and most diverse cryptocurrency marketplace, OKEx is where global crypto traders, miners, and institutional investors come to manage crypto assets, enhance investment opportunities, and hedge risks. We provide spot and derivatives trading, including futures, perpetual swap, and options, of major cryptocurrencies, offering investors great flexibility in formulating their strategies to maximize gains and mitigate risks.

Media contact:
Vivien Choi
Email: [email protected]
Telegram: @vivienchoi

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