OKB Price Prediction: $7.6B Token Burn Sends Altcoin Soaring 300%
OKB has had one of the most epic rallies of the year, up over 300% in just over a week. From $47 to over $180...
Quick overview
- OKB has surged over 300% in just over a week, reaching an all-time high of $255 before consolidating at $206.
- A record token burn of 65.26 million OKB and a significant blockchain upgrade in the OKX ecosystem are driving this rally.
- OKB is now the exclusive gas token for the new X Layer on Polygon's zkEVM, enhancing its utility and demand.
- Market indicators show positive momentum, with open interest in OKB futures doubling and OKX dominating 73% of daily OKB/USDT volume.
OKB has had one of the most epic rallies of the year, up over 300% in just over a week. From $47 to over $180, it briefly hit an all-time high of $255 before consolidating at $206. Two big catalysts are at play: a record token burn and a massive blockchain upgrade in the OKX ecosystem.
On August 15, OKX burned 65.26 million OKB tokens – worth $7.6 billion at the time. That’s half the supply, and the maximum circulation is now 21 million. Scarcity sent prices soaring and OKB is one of the few major coins to post double-digit gains during a market downturn.
Why Supply Shock Meets Utility Growth
Beyond scarcity, demand has grown with the launch of X Layer, a new chain on Polygon’s zkEVM. X Layer can process 5,000 transactions per second and OKB is the exclusive gas token for payments, wallet operations and trading services across the ecosystem. The retirement of OKTChain has consolidated liquidity into OKB, making it the backbone of OKX’s DeFi, governance and staking incentives.
Market data shows the momentum:
- Open interest in OKB futures has doubled to $23.2M.
- Funding rates are positive.
- Exchange dominance shows OKX accounts for 73% of daily OKB/USDT volume.
With Bitcoin-style scarcity and new utility, OKB is now seen as both a store of value and a functional asset in the OKX ecosystem.
OKB Price Prediction – Technical Outlook
The rally cooled this week as OKB dropped 6% to $206, from $235 resistance. On the 4-hour chart, two shooting star candles suggested exhaustion at the top and a pullback to the breakout zone.
Indicators are consolidating: RSI has dropped from 75 to 59 and MACD has flashed a bearish crossover. But the structure is still good. Price is holding above the 50-SMA ($145) and respecting the ascending trendline since mid-August.
Levels to watch:
- Support: $189, $167, $145
- Resistance: $235, $260, $283
A bounce from $189 could open up $235 and $260. Above $283 is a new leg up. Below support is a drop to $167.
Trade: Newbies can look to enter at $190 on a green candle, with stops at $167. Targets are $235 and $260, aligned with the structure.
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