OKB trades at $230.18, up 19% in the past 24 hours, continuing its strong performance from recent weeks. The OKX exchange token outpaced broader crypto markets despite no major announcements.
Traders pointed to tokenomics changes and ecosystem growth as the main drivers of the rally. The price sits comfortably above its 20-day moving average of $193.96, the 50-day at $184.22, and the 200-day at $84.61. Technical analysts said this alignment reflects bullish momentum across all major timeframes.
Related: OKB Is Now as Scarce as Bitcoin After the Massive $7.3 Billion Token Burn
Supply Burn Fuels Bullish Sentiment
Much of the buying pressure traces back to OKX’s August decision to permanently burn 65.26 million OKB tokens, cutting supply by more than half. The move capped total supply at 21 million, a structure similar to Bitcoin’s scarcity model.
Following the announcement, OKB’s price jumped 484% as investors priced in reduced circulation. During that month it started its rally near $44 level and has reached an ATH of $257.
The token’s utility is also expanding through X Layer, OKX’s blockchain built for decentralized finance, payments, and tokenized assets. With 5,000 transactions per second and near-zero fees, X Layer could support long-term demand if adoption grows.
Technical Indicators Show Strong Buying Signals
OKB shows bullish momentum, but several indicators urge caution. The daily Relative Strength Index (RSI) is at 75.13, indicating overbought conditions. Resistance has formed at $256, with immediate support between $203 and $208.
Traders Union analyst Anton Kharitonov notes that OKB remains in a sideways range. “Until $191 is broken, I stay cautious on further upside,” he said. Despite this, OKB is now trading above that level.
Analysts also highlight external risks. Whale wallets control around 67% of OKB’s supply, making the market vulnerable to large sell-offs. The token’s 90-day volatility is at 292%, which is well above Bitcoin’s, underscoring its price instability.
An upcoming U.S. IPO by OKX under new CEO Roshan Robert could boost visibility but may also attract increased SEC scrutiny, introducing regulatory risks.
Can OKB Hold the $200 Level?
Analysts expect OKB to remain range-bound near $205 in the short term. A move above $208 could target the next resistance at $256.08, while a drop below $200 might trigger a deeper correction.
Related: OKB (OKB) Price Prediction 2025, 2026, 2027, 2028-2030
OKB’s long-term outlook hinges on the adoption of its X Layer ecosystem and broader market sentiment. Growth in usage, combined with its deflationary token burn model, could support prices above $200. Without strong adoption, high volatility and whale dominance could drag performance.
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