- OKB crypto price has advanced by 3900% from its all-time low.
- The OKB has less than 20% of the total supply in circulation.
OKB, the native token of OKX, offers holders benefits like trading fee discounts of up to 40%, passive income via OKX Earn, and participation in token sales.
Created by Mingxing Xu (Star Xu), founder of OKX, and developed further by CEO Jay Hao, OKB is supported by a Buy-Back & Burn program for value maintenance.
The OKB crypto seems to be facing negativity as the market cap of the crypto has declined by 0.96% in the last 24 hours from the press time. Moreover, the market cap value of the crypto is $3.047B.
OKB token has a market cap ranking of #38 as per CoinMarketCap, and the fully diluted market cap of the crypto is $15.277B. Moreover, the trading volume for the token has declined by 28.3%, resulting in a traded volume value of $4.656 Million.
The crypto’s volume/market cap ratio is 0.15%, and the circulating supply of the crypto is 60.0M OKB. Also, the total supply of crypto is 300.0M OKB, and the maximum supply of crypto is the same.
Moreover, the market cap dominance of the crypto is 0.13%, and the sentiment of the crypto is bearish, as per Coincodex. The fear and greed index of the crypto is at 68, which indicates greed among investors.
The all-time low price of $1.25 was hit on May 17, 2019. This shows that nearly five years have passed since the price hit its all-time low.
The all-time high price of $73.83 was further achieved on March 14, 2024, just two months ago. The crypto price further has declined by 31% from the all-time high price.
OKB Crypto Technical Analysis
The price of the OKB crypto was trading in an uptrend but later failed to sustain the higher level and witnessed firm profit booking. This led the crypto price to decline below the rising wedge pattern.
After the breakdown, the crypto price is currently being rejected at the breakdown level. It shows that the crypto price might continue to decline to further lower levels.
OKB/USD Chart by TradingView
The 20-day and the 200-day EMAs are trading in a bearish cross, and the price has declined below the given EMAs. This represents a strong downtrend in crypto prices.
The MACD metrics are trading in the negative territory, and the MACD and signal lines overlap, indicating uncertainty in the crypto price.
The RSI recently hit the oversold zone and is currently trading at 39.88. It also has broken above the 14-day SMA but is sustaining below the 50-level.
Summary
OKB, the native token of OKX, faces a decline, with its market cap dropping by 0.96% in 24 hours.
Despite a bullish start, the price broke crucial support levels below, signaling a potential downtrend. Technical indicators show uncertainty, with the RSI in the oversold zone, suggesting further price decline is uncertain.
The price of the OKB crypto has support at the $40.0 level on the lower side, but if the price continues to advance, it might face rejection at the $60.0 level.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.