Crypto Currency Tracker logo Crypto Currency Tracker logo
Crypto Potato 2025-08-13 09:47:32

Massive Token Burn Sends OKB Skyrocketing 130% to New ATH

TL;DR OKB tapped $135, its highest price ever, before pulling back 11% within the hour. One-time burn of 65M OKB reduced supply to 21M, fueling a rapid price surge and a record high. RSI at 94.73 shows strong buying pressure, while the Balance of Power reading favors bullish market control. Price Jumps on Token Burn and Upgrade OKB stole the show today after a massive triple-digit surge that drove it to a new all-time high of $135. This spectacular rally has materialized mostly in the past day as OKB’s weekly and monthly gains are similar to today’s surge. The total trading volume has risen to over $2.2 billion, according to CoinGecko data. Although OKB has retraced since its peak, it’s still 132% up daily and sits well above $100. Perhaps the most probable reason behind the token’s surge is OKX’s decision to burn more than 65 million OKB in a one-time event. After the burn, the total supply will stand at 21 million. OKX also announced an upgrade to X Layer, its zkEVM blockchain built with Polygon. The change, called the PP upgrade, adds new Polygon CDK features. Throughput will rise to 5,000 TPS, gas fees will drop, and Ethereum compatibility will improve. X Layer will link with OKX Wallet, OKX Exchange, and OKX Pay for features such as gasless withdrawals. Token Structure and Chain Changes OKTChain will be retired, and OKT trading will end on August 13, 2025. Remaining tokens will convert to OKB on August 15 using an average price. The chain will remain open for deposits until January 1, 2026. OKB stays as the native gas token for X Layer. The Ethereum L1 version will be phased out. Holders must bridge tokens to X Layer before L1 withdrawals are closed. Plans also include an ecosystem fund, liquidity rewards, and upgrades to bridges, oracles, and compliance systems. Technical Readings and Trader View RSI is at 95, which shows strong buying pressure and an overbought market. Such levels are uncommon but can last when moves are driven by news. The Balance of Power is 0.62, showing buyers have control. High readings like this often appear during periods of heavy accumulation. Source: TradingView Trader Efloud said, “Perhaps I am a market maker. I don’t know yet… we need to enjoy our profits.” He had earlier noted that a pullback into the $43.3–$42.4 range would have him watching for a bullish structure on lower timeframes. $OKB | Update Nothing much to say. Check quoted post, then check this one. My standards are high but this rise has surpassed even me. Perhaps I am a market maker. I don’t know yet. The only thing I know is that we need to enjoy our profits https://t.co/wBJIbafSqK pic.twitter.com/jMva60gVXR — Efloud (@EfloudTheSurfer) August 13, 2025 The post Massive Token Burn Sends OKB Skyrocketing 130% to New ATH appeared first on CryptoPotato .

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta