This wave of OKB has broken the historical high, why? Mainly three reasons!
First, the exchange suddenly announced the destruction of over 65 million OKB, which is more than half of the previous total supply. The remaining total supply is locked at 21 million, fixed like Bitcoin. When the market saw that the circulating coins had decreased, concerns arose about it becoming harder to buy in the future, leading to a rush to buy, which naturally pushed the price up.
Second, technical upgrades attract users. OKX upgraded its own Layer 2 network, X Layer, improving the processing speed from several hundred transactions per second to 5,000 transactions per second, with fees almost zero. This is like transforming a congested highway into a high-speed rail; more people are willing to use OKB to pay fees, increasing demand and driving up prices.
Third, ecological integration centralizes demand. OKX announced the cessation of the old public chain OKT Chain, requiring all users holding OKT to exchange it for OKB. The users and funds that were originally dispersed across two chains are now concentrated on OKB. Additionally, with OKX wallet and payment tools bound to X Layer, OKB has become a necessity, further pushing up the price.
In the short term, these positive news have stimulated market sentiment, but in the long term, it depends on whether the X Layer ecosystem can continue to develop. Currently, OKB has surpassed $200, setting a new high.
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