$OKB Jumps Over 6% After 65M Token Burn and ‘X Layer’ Launch

$OKB has continued its bullish run, rising 6% this week to surpass $127 in a historic rally that’s left merchants shocked. This isn’t simply one other pump—we’re witnessing one among crypto’s most dramatic provide shocks unfold in actual time.

This rally is a direct results of the protocol’s measures and main platform upgrades which have essentially reworked the token’s worth proposition. The true query isn’t simply what drove the explosion however whether or not $OKB can preserve this new altitude.

How a Historic Token Burn and L2 Announcement Ignited $OKB Rally

The OKB token, with a market capitalization of roughly $2.66 billion, was designed because the core utility token for the OKX ecosystem. Its worth is derived from offering holders with advantages, together with buying and selling price reductions, staking rewards, and governance rights.

August has been a productive month for the token and its native platform.

Earlier this month, $OKB noticed its position evolve past change perks to now perform because the native fuel token for X Layer, OKX’s zkEVM-powered Ethereum Layer‑2, delivering round 5,000 TPS, near-zero charges, and full Ethereum compatibility.

Thereafter, the change executed a significant token burn, completely eradicating roughly 65.26 million OKB from its reserves, eradicating them from circulation. This occasion formally established a tough, immutable provide cap of 21 million tokens.

A subsequent sensible contract improve disabled any future minting or burning capabilities, cementing the token’s shortage mannequin. These adjustments spurred a surge of 160–170%, with OKB briefly reaching highs above $130.

In response to Etherscan, the on-chain ecosystem has roughly 17,900 holders, with the highest 10 addresses controlling about 67% of the provision.

Moreover, OKX started phasing out OKTChain, stopping OKT buying and selling as of August 13, initiating computerized conversions of OKT to OKB primarily based on the July 13–August 12 common worth, and planning full decommissioning by January 1, 2026.

OKB Faces Rejection at $130, Consolidates Above Excessive-Quantity Assist

Following the worth rally, $OKB is now consolidating. This pause is vital because it helps the market take in its new worth degree and construct a stronger base for its subsequent potential transfer.

After setting a historic excessive final week, the $OKB token encountered agency resistance close to $130.

Observing the order stream dynamics and quantity exercise, one might see the clear shift, significantly seen on the 1-hour chart.

Purchase-side curiosity was initially sturdy, as mirrored in a number of giant footprint clusters simply above $126.

One of many breakout candles confirmed over 100K in whole quantity, although it closed with a adverse delta of -21.41K, indicating that profit-taking emerged to satisfy the shopping for stress at this new excessive.

Previous to that, quantity bars main as much as the rejection had been additionally crammed with aggressive shopping for, however started displaying indicators of exhaustion as promoting stress absorbed the momentum. The delta footprint steadily tilted pink, confirming {that a} interval of consolidation had begun.

Whereas OKB briefly misplaced its upward momentum after pushing into the $128–$130 area, the broader market construction nonetheless leans bullish. The rejection from the highest of the breakout vary has up to now led to a measured pullback, not a collapse.

The asset’s worth continues to commerce above all main shifting averages on the 1-hour chart, together with the 20, 50, and 100-period SMAs, which proceed to development upward. The 20-SMA close to $122 is especially key, because it now aligns with the high-volume assist space the place current consolidations have taken place.

At press time, OKB is holding simply above the $123 mark, hovering close to the higher boundary of a high-volume liquidity band centered round $120–$122. This space has repeatedly absorbed promoting stress in current classes, suggesting that it stays a key battleground between patrons and sellers. But worth motion alone gained’t be sufficient going ahead.

To regain directional management, bulls should present renewed initiative, ideally marked by a pick-up in aggressive shopping for and a shift in cumulative delta favoring demand.

Given the highly effective basic tailwinds from the token burn and X Layer launch, this key assist zone is more likely to be fiercely defended by long-term believers.

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