Star Xu Predicts Crypto Growth as OKX Plans New Business Line

OKX, one of the leading cryptocurrency exchanges, is set to launch a mysterious new business line in February, according to its founder Star Xu.

The announcement has sparked significant interest, particularly as Xu rarely posts publicly.

Star Xu’s Bold Predictions for Crypto Growth

The announcement of OKX’s secret business line has generated considerable buzz within the crypto community. Web3 enthusiast Ericsu.eth expressed excitement, calling the revelation “very interesting” and likening it to a “wealth code.” Such anticipation indicates the high expectations surrounding OKX’s next move.

With the secret business line slated for launch in February, the crypto industry is keenly watching OKX. Nevertheless, Xu hinted that the product still requires further refinement but aims to drive industry innovation and accelerate mass adoption of cryptocurrencies.

In a parallel announcement, the crypto executive shared his thoughts on the broader cryptocurrency industry and OKX’s positioning within it.

“I believe that the scale of the entire crypto industry will grow by 100 times,” Xu stated.

He compared Bitcoin (BTC) to gold, pointing out that while Bitcoin’s market value is currently about one-tenth that of gold, BTC ETFs (exchange-traded funds) have already outpaced gold ETFs in scale. Xu’s remarks reflect his bullish outlook on Bitcoin and stress the importance of holding BTC.

“As a practitioner, you should always have some BTC in your hands. You will thank yourself for your decision,” he advised.

Xu also acknowledged criticisms surrounding OKX’s token, OKB, and its perceived lack of utility. He admitted that feedback from the community indicated that OKB’s use cases and asset listings were not aggressive enough. However, he reassured users that improvements were underway.

“OKB is the gas of X Layer, and there will be many actions in the future,” he said.

Xu clarified that, apart from its native token, OKX does not issue its own coins, maintaining a neutral stance through OKX Ventures. While the venture arm invests in various projects, many of these are not listed on the exchange, reflecting OKX’s focus on identifying high-quality assets.

BeInCrypto data shows OKX’s OKB token was trading for $48.39 as of this writing. This represents a modest surge of around 3% since the Tuesday session opened.