OKB price surges 55% as OKX nears full X Layer token migration
The post OKB price surges 55% as OKX nears full X Layer token migration appeared on BitcoinEthereumNews.com.
OKB price rallied sharply on Aug. 21, climbing more than 55% in a single day to trade near $200. Summary OKB rallied toward $200, with strong bullish momentum but stretched technicals. Indicators show overbought conditions, with Bollinger Bands wide and RSI elevated. Key support rests at $150–$160, while $200 remains the main resistance to clear. OKX (OKB) price climbed to a new all-time high near $197, driven by anticipation of OKX’s migration to its native X Layer blockchain and a major token supply revamp. Spot market activity surged alongside derivatives. Over the last 24 hours, OKB trading volume hit $7.15 billion, up 2,532% day over day. Derivatives activity also exploded. Futures volume rose 356% to $180 million and open interest climbed 239% to $15.9 million, as per Coinglass data. This points to fresh leverage entering the market and the potential for larger intraday swings if momentum snaps. Why OKB token is ripping? Analytics platform LunarCrush confirmed on Aug. 21 that about 90% of OKB has already transitioned to X Layer, part of OKX’s plan to unify the ecosystem under “one token, one chain,” with a fixed supply of 21 million OKB. Together with the transition, the exchange recently disclosed a one-time burn of 65.26 million OKB, removing buyback reserves and past inventory to hard-cap supply at 21 million. This approach mirrors Bitcoin’s (BTC) scarcity model. OKB continues to march higher with both price and social mentions accelerating. What’s up?$OKB has successfully transitioned 90% of its tokens to its new home on X Layer, marking a significant milestone. This move aims to create a unified ecosystem with one token, one chain,… pic.twitter.com/1GJWdXsgFf — LunarCrush Social Analytics (@LunarCrush) August 20, 2025 The migration is more than cosmetic. A recent upgrade on X Layer reportedly boosted throughput to roughly 5,000 transactions per second,…
Filed under: News - @ August 21, 2025 7:29 am