CBK crypto 101: a thorough guide to the platform
Cobak is a Korean-based cryptocurrency platform that has shaped Korea’s most influential community in the crypto space. The platform runs an app with around 60,000 daily active users and 300,000 total downloads. It also has introduced the CBK crypto coin, one of the largest Korean cryptocurrencies.
The Cobak token is currently valued at only $0.807. But, one reason it has grabbed investors’ attention worldwide is its low-risk rank. Because of this reason, many investors consider it a somewhat safer bet in a speculative asset class.
Are you interested in knowing more about its potential? Let’s take a deeper dive into Cobak blockchain and CBK crypto!
A brief overview of Cobak
Cobak is a blockchain and cryptocurrency platform launched in March 2018. Earlier, it started as a news service related to cryptocurrencies. But, later, it rolled out its CBK token with its first sale through ICOs (Initial Coin Offering) in 2019. The platform also develops blockchain wallets and organises several airdrops through its Pop Quiz and Cobak Live.
The token is based on the ERC-20 standard and can be supported by all Ethereum-based wallets. In addition, it works on the Proof-of-Stake (PoS) mechanism like Ethereum. The token is used to power the Cobak ecosystem and precisely has four significant roles within the ecosystem. These are:
• CBK crypto serves as the utility token on the network and facilitates transactions.
• It helps in unlocking exclusive benefits for the members.
• It is distributed as a reward among members for performing certain acts that are helpful to the community and the network.
• You can use it to pay platform fees.
CBK crypto tokenomics
CBKs facilitate all the economic activities on the Cobak network. The total supply of CBK crypto is 100,000,000 tokens. The largest part, which makes up 33% of these tokens, has been allocated to the ecosystem.
The second-largest allocation, 30%, is assigned to private sales. Another 20% is for DeFi staking incentives, and 15% is for the Cobak team. Lastly, 2% of tokens are reserved for the platform partners.
Source: Cobak Whitepaper
However, there is a token-burning mechanism which eliminates tokens from the total supply. This mechanism is in place for the development of the network. It will burn 20% of the tokens to maintain their value over time. A percentage of the withdrawal fee and service payment will be used for burning.
Where to buy the CBK Crypto coin?
It is relatively easy to find this cryptocurrency, as it is available on most top exchanges. You can quickly trade it on Coinbase, Kraken, Gate.io, MEXC, Upbit, DigiFinex, and others. Most commonly, it is available in CBK/USDT and CBK/BTC trading pairs. Some exchanges might also allow fiat exchanges.
CBK token price prediction
As of October 06, 2022, the worth of one CBK token is $0.807. However, CoinMarketCap shows it touched its highest level of $16.31 in April 2021. On the other hand, its lowest was $0.746 in June this year.
As per the observations by various analysts, the token holds low risk. This implies that only a large flow of dollars can impact the price of CBKs. That’s why small movements in or out of the market will not necessarily translate into big-price actions.
Other economic factors may not influence the CBK price volatility much as other cryptocurrencies. Therefore, it poses a less risky option for investors.
The prediction from DigitalCoinPrice is in line with this view. It suggests that in 2023, the coin will trade at an average value of $1.82. In addition, its highest may reach $1.92, and its lowest could be $1.72. Its steady growth may continue until 2025, with the price likely averaging $3.28. In 2030, the CBK token’s price is forecast to reach $11.45.
Is CBK crypto a good investment?
The CBK crypto is a relatively new project that offers informative content and blockchain wallets. The forecast for the coming years for this crypto shows steady growth. Though you would not get as much upside as other coins, it may provide profitable gains.
It is likely to be a less risky bet for investors as small-scale dollar inflows and outflows do not influence its price. Nonetheless, as the crypto market is volatile, thorough research is advisable to avoid risks.
Author: Wasay Ali
I'm a content writer with adequate SEO knowledge. My hobby is to exercise, read and write. My writing experience currently expands to 2 years and I’ve worked on multiple niches, including finance. My versatility and research skills make me the best at what I do: content & SEO writing. I love writing because it pitches in and helps me learn new things daily.