OKT underwent a massive surge a couple of days back, climbing to $34.4 from $25.5 in just over two days. Inviting a lot of attention to the token. To understand how the token might perform hereon, both in the short and long term, we will have a look at its price action so far.
OKT Price Action & Technical Analysis
The OKT token debuted in the crypto markets on January 21, where it was trading for $54.25 soon after being launched. This was at a time when the crypto market was undergoing a bull run, with Bitcoin trading at $36k around the same time.
The token fell a little over the next couple of weeks and began an uprising trend midway through February, peaking at $242 at the start of May. However, it soon fell to $44 by the second half of July.
While the token did manage to rise and mark a near-time high at $116 in August of the same year. It started a downward trend ever since and is currently trading at $30.77. During this time, the token bottomed at $13.6 in August 2022 and has begun its upwards journey since then.
On a technical front, OKT is trading well above its EMA, which means that it could increase in price in the near future. Now that the token has broken an important resistance at $28.50, it could be heading towards possible resistance at $38.30. The current rally by the token is experienced as a relief from the after-drama of the FTX collapse.
Sellers are currently withholding the price and trying to outperform the buyers. However, the CMF is indicating contradicting signals, suggesting that a price rise may not be in sight for the token. The price has been dribbling for some time now, on a shorter time scale, and the recent uprise was expected to be followed by a correction. So far at least, there doesn’t seem to be much correction but a tiny consolidation before a potential mini surge again.
What Is OKC?
OKChain launched a decentralized commercial public chain recently and OKT is the native token of this blockchain. This newly introduced token is often confused with OKB, which is a utility token of the OKEx ecosystem, while OKT is exclusively a native token of OKChian, based on the DPoS consensus mechanism.
The price action of OKT is dependent on its role in the OKChain ecosystem, which includes DeFi applications, DEXs, as well as any other future development it might undertake. The price of OKB, on the other hand, will depend on the development of infrastructure and expansion of trading channels of OKEx. In addition to this, the growth of the token will also be influenced by OKB Buy-Back schemes and Burn schemes.
OKT is a trading-centric token that needed to be created after OKChain adopted the DPoS consensus, while the previous coin OKB remains trading-centric. OKT will therefore serve to maintain an autonomous ecosystem for OKChain while securing its native token OKB.
OKEx plans to continue its development and use cases of the native token OKB, including opening up more trading channels. OKB holders continue to have a right over governance of the ecosystem, and they were given OKT tokens equal to their holdings at the time of launch.
While OKT isn’t entirely a native part of OKEx’s fundamental operation, it remains a critical part of the ecosystem. Investors who are positive about the project can consider investing in OKT, and here are a few predictions of where the token could land in future.
OKT Price Prediction
OKT Price Prediction 2023
OKT’s recent price hike was attributed to being a pull from the market, although recent news about the project launching a web campaign for the global crypto community may have supplemented the price increase. There isn’t much momentum from the project itself, which has led to many conservative predictions about the price, many hovering at $30.
On the other hand, some predictions expect the project to touch $75 by the end of the year. On average, however, investors can expect the token to maintain $40 throughout the year.
OKT Price Prediction 2025
OKT is expected to perform much better in the long run, with projections of up to $211 by the end of 2025. On average, the token may maintain a price of $175.93 while it could reach a low of $140 during 2025.
With that being said, it’s important for investors to remember that predictions are only helpful to get an insight into a coin’s potential performance and shouldn’t be used as facts to support trading strategies. Investors should do their own research before investing in any crypto project.
Fight Out (FGHT) – Newest Move to Earn Project
- CertiK audited & CoinSniper KYC Verified
- Early Stage Presale Live Now
- Earn Free Crypto & Meet Fitness Goals
- LBank Labs Project
- Partnered with Transak, Block Media
- Staking Rewards & Bonuses