What is the OKB token doing in the top 10?

For the past few weeks OKB has been rallying and has set a new all time high despite the fact that we're not really in a bull market. According to Coingecko, right now it's in the 7th place.

For the last few years, the top 10 coins have been the ones that are well established and known by many people even outside the crypto space. But OKB is clearly an exception since it's not very well known and isn't talked about much.

So, what is OKB?

Apparently it's an exchange token belonging to the exchange OKX. I did a quick look and found out that the exchange is not even available in the US. And globally it isn't one of the biggest exchanges, judging by 24h volume and monthly visits.

For comparison, here are other exchanges that are bigger and have their own tokens that have a smaller market cap:

Bitget (MC 570 million)

Digifinex (MC unknown, the token is pretty much dead)

Kucoin (MC 850 million)

Huobi (MC 850 million)

Coinsbit (MC 47 million, the token seems completely dead and hasn't recovered at all during the recent Bitcoin rally)

It's surprising how poorly other exchange tokens have performed, especially Digifinex and Coinsbit. They have been hit really hard by the bear market.

But none of the competitors come even close to OKB which somehow has a market cap of 12 billion.

What do you think is the reason? Seems like an exchange token like any other, it gives discounts on trading fees and some small benefits. In US it can only be obtained through other, smaller exchanges like Gate and Hotbit, but in those cases it can't be used for its utility. We know that US is pretty much the center of crypto, so the popularity of the token doesn't make any sense. Maybe there's something more going on under the radar that most people don't know about.