Last time OKB rose 200% in one day from around $40, breaking through $140.
I wrote two articles about Ouyi's upgrade before.
The article clearly points out that the upgrade of OKB is a complete transformation, and the upgraded OKB is severely undervalued.
In the past two days, OKB has risen continuously again, with today’s increase exceeding 30%, already surpassing the price of SOL.
So, what is the driving force behind this rise? Is there sustainability?
In the past, the main uses of OKB were: transaction fee discounts, various votes (basically no one used them later), collateral for loans, and collateral for OTC traders.
For retail investors, demand is almost zero, and they basically hold it just for speculation.
It wasn’t until the recent OKX upgrade that the situation started to change.
Simply put, previously OKB was a token, OKT was a chain—two different tracks. Lao Xu's idea was to walk on two legs. But later, due to various issues, OKT failed and was not used, and OKB became 'lame.'
This upgrade integrates OKT into OKB, and then created a public chain called X Layer. It’s a public chain similar to ETH, BNB, and SOL. In the future, whatever public chains can do, X Layer can do, and all consumption will use OKB.
In the future, competition among public chains will become more intense.
Compared to the previous OKT chain, X Layer has obvious advantages—most importantly, low fees, fast speeds, and compatibility with ETH.
An important point is that this upgrade brings business capabilities that Ouyi did not have before, which is also an ecological capability that OKB previously lacked.
I have to mention the legacy issues of OKT here; this time Ouyi really deserves some praise.
OKT's price was always low before, and this upgrade presented Ouyi with two handling methods: one is to exchange the amount of pre-upgrade OKT for the price of the post-upgrade OKB; the other is to exchange the same amount at the pre-upgrade price.
Ouyi chose the latter approach, which shows a lot of vision.
If you choose the first method, then OKT users are basically abandoned, only able to watch OKB rise in price but locked, unable to profit. It’s normal to operate this way on a small exchange, as there are many tricks in the crypto circle.
What Ouyi is doing is actually a pleasant surprise.
I held some OKT in July, and later exchanged for 76 OKB, which has now increased fivefold.
I should also be one of the earliest holders of OKB. This time, after seeing the upgrade of Ouyi, I didn’t sell immediately, but carefully studied the upgraded OKB ecosystem.
After research, I believe OKB still has ongoing potential, and one can take advantage of the pullback to increase their positions. The pullback is expected to occur around the 13th to 15th, roughly between 90 and 100, so I set my order at 95.
On August 15, the real bottom appeared.
Many people may only see the rise and fall of K lines, but I analyzed in advance that OKT would be sold on the day of exchange, which is actually a relatively reasonable holding opportunity.
Chasing highs and lows based on emotions will definitely lead to buying high and selling low, which many people cannot do.
Actually, the content and technical content of the last two articles and the analysis in the group are very high, but the most valuable things are often easily overlooked.
This wave of increase in OKB has also driven the rise of other exchange platform coins, which we discussed last night.
Yesterday, I considered that the market's pullback was an operational opportunity. I also reduced some altcoin short positions and transferred some altcoin spot holdings.
Looking at the trend of OKB again, without any contracts, this wave of increase is actually too fast.
Under normal circumstances, even if Ouyi's X Layer wants to develop well, it must reference the trend of Binance ALPHA: first create a wave of heat, then consolidate for a period, and only then will it truly take off and return to value.
So now OKB is no longer suitable for casual trading, and can only be operated gradually.
From a long-term perspective, OKB still has potential, but in the short term, it cannot keep rising; it must undergo some sort of consolidation. When operating, everyone should pay attention to the distinction between long-term and short-term. For the short-term part, I have been gradually reducing my positions but will not fully clear them.
Recently, Ouyi's on-chain activity has been very hot, with everyone playing 'dog fighting,' somewhat like the previous SOL and BNB, which is worth paying attention to. However, if you participate, it's best to only use 1/10 of your OKB to play (most good opportunities are at midnight), using small stakes to gamble big, and it’s not advisable to use valuable tokens to gamble on 'meme coins.'
