How did the OKX on-chain price reach a maximum of $342?

Low liquidity + High control + No cross-chain support

The on-chain liquidity of OKB on the Ethereum mainnet is only $253,000. The official team has either destroyed or migrated most tokens to X Layer, and cross-chain support between the two networks is not available. Therefore, 6 addresses successfully drove up the price by purchasing 138.44 OKB between 20:46 - 21:08.

Now let's take a look at the token distribution: Currently, there are a total of 856,000 OKB on the Ethereum mainnet, accounting for 4% of the total supply, with the top 5 holding addresses owning 68% of the tokens, and the top 4 address is OKX Exchange.