Yesterday, after buying OKB at 190, I experienced a significant pullback. I clearly mentioned in the group that this is an opportunity for someone who hasn't gotten on board yet.
Looking at OKB from several angles:
First, as a MEME, the user base and attention on OKX, with a total of 21 million, has not seen any growth for years, with most of the chips in OK's hands. OKX is not a project that exploits retail investors, so I also reminded everyone not to chase the highs.
Second, undervalued public chains.
Other new public chains have valuations in the tens of billions, while established chains like AVAX often reach hundreds of billions. What do they have? What ecosystems are they building? Comparing teams and visions, among these public chains in the industry, aside from ETH and SOL, can anyone name a public chain team that you are 100% confident can outperform OKX? I conducted a poll yesterday, and the results reflect the general sentiment.
The chart shows all chains valued over 10 billion, with some even in the hundreds of billions. Aside from ETH and SOL, there isn't much on other chains valued in the hundreds of billions. OKX excels due to its strong team, with a valuation of 4 billion, which is relatively cheap compared to others.
Third, a payment public chain.
From a narrative perspective, OKX's public chain focuses on payments. When you open the OKX app, there are only three things: exchange, payment, and wallet.
The exchange is steadily developing after going public.
The wallet has transitioned from being dormant to supporting inscriptions and various features, achieving a win-win in user volume and reputation.
The new focus is on payments, which is based on XLAYER and uses OKB.
Previously, WEB3 wallets targeted users within the circle, competing with MetaMask—an outright victory! Now, how many people still use MetaMask? I personally use the OKX wallet exclusively.
Currently, the payment feature aims to attract users outside the circle. Everyone should try it out; chatting, sending red envelopes, and instant transfers can all be done with one app, and the money stored inside earns interest automatically, backed by OKX, which is quite good. I look forward to OKX making further strides in the payment sector; if used well, it can break through the circle.
In comparison to the USDT project’s PLASMA, the off-market valuation is now close to OKB, but that’s a token empowerment aspect; I shared an AI image for reference.
Fourth, market manipulation.
This recent surge is primarily due to the prolonged market manipulation; it hasn’t risen in years, and the bull market had nothing to do with it. Then news came out, causing it to jump from 50 to 200, but considering the scale of destruction, it hasn’t really increased much. Subsequently, it fell back and started to consolidate around 100 for a while. Since most coins are held by the official team, the market saw a spike and a sell-off (many people sold here), and then more selling during the consolidation phase.
So when it rises again later, it feels like, "Why is it rising again?" The main benefit is the prolonged manipulation.
How far can OKX rise? I believe the market's attention is quite focused right now; the crypto space is filled with garbage projects or old narratives. Payments/stablecoins/RWA are the new narratives. If XLAYER can become the leader of this new narrative (it seems to already be), and if OKX continues to innovate in the payment sector, it should attract more attention.
Finally, all of the above are just some ramblings based on my own opinions; please take the reminders from Mr. Xu and OKX seriously: trading involves risks, and investment requires caution to avoid blindly following trends.
【It seems like it's been years since a project team reminded everyone to pay attention to risks; most projects are just trying to deceive and exploit retail investors, which is an interesting phenomenon.】
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