OKB Sharp Go Up 110% After E Burn 279M Token & X Layer Upgrade
OKX don announce say dem go burn 65.2 million OKB one time only, after dat dem burn 279 million OKB tokens for good, waka reduce total supply from 300 million to fixed cap wey be 21 million. The two token burns wey value over $26 billion, make price rally so that OKB surge 110% reach all-time high wey be $148.90. Trading volume jump pass 17,000%, market cap climb from $2.8 billion go $8 billion before e finally settle for $6.3 billion. Even though small 9.4% pullback happen during bigger altcoin flash crash, the on-chain metrics like active addresses for yearly highs and positive Price-DAA divergence show say demand strong from ground. OKX also upgrade their X Layer become special public blockchain wey e fit work well for DeFi and payments, dem put zkEVM upgrade wey use Polygon CDK to make throughput reach 5,000 TPS and reduce gas fee, plus dem announce OKT to OKB swap based on average closing prices from July 13 to August 12. Technical indicators show say dem overbought (RSI 94, Stochastic RSI 95), e mean say short-term corrections fit happen towards support around $74. Traders suppose dey watch OKB volume, netflows, moving averages, RSI and network activity for the upgraded X Layer well well to get best entry point.
Bullish
Di dual token burn sharply reduce OKB’s circulating supply, e cause scarcity and strong price rally. High trading volume, many active addresses, and positive Price-DAA divergence dey confirm say organic demand dey grow. Di X Layer upgrade and zkEVM integration improve network throughput and DeFi utility, e attract new institutional interest. Even though overbought indicators (RSI, Stochastic RSI) show possible short-term corrections toward support at $74, di capped supply and better tokenomics dey support bullish long-term outlook. Traders suppose watch volume, netflows, and momentum for entry opportunities.