OKX has just burned 279 million OKB, causing the price of OKB to surge immediately. However, supply is not the only determining factor for the future price of OKB.
After an unprecedented large supply burn, the price of OKB increased by more than 300%, but the upcoming developments still depend on demand strength, investor sentiment, and other technical factors.
MAIN CONTENT
OKX burned 279 million OKB, sharply reducing the supply to only 21 million Tokens, similar to Bitcoin.
The price of OKB increased by more than 300% after the burn information, but it is still influenced by sentiment, demand, and market developments.
Technical indicators warn that the market is too hot; investors need to monitor the risk of corrections and manage positions appropriately.
What is the burning of 279 million OKB by OKX?
On August 15, OKX burned 279 million OKB, significantly reducing the circulating supply to 21 million, according to data from CoinMarketCap.
According to Etherscan, this is one of the strongest supply cuts made by a centralized exchange. This burn action was carried out by OKX along with the announcement of an upgrade to the X Layer ecosystem strategy.
Burning Tokens is an effective supply management strategy, helping to increase long-term Token value and attract more community.
Jay Hao, CEO of OKX, stated on X on August 15, 2025, source: OKX
Burning OKB helps significantly reduce the number of circulating Tokens, creating an effect similar to the limited supply policy of Bitcoin, enhancing long-term investment attractiveness. Notably, the current supply of OKB matches the maximum total supply of Bitcoin.
How will the sharp decrease in OKB supply affect the price?
After the burn, the total supply of OKB decreased to 21 million Tokens, helping the price to skyrocket, but future prices will still be influenced by many factors beyond supply.
According to CoinMarketCap, after the burn announcement on August 13, the price of OKB increased by more than 312%. However, experts emphasize that demand, investor sentiment, and general market developments are the major drivers for the next journey of OKB.
Supply reduction is an important factor, but demand and investor confidence will determine the long-term journey of the Token.
Messari Crypto Research, Q3/2024 report
The supply burn event may spark a strong speculative wave, but investors need to be cautious of the risk of technical corrections if buying pressure weakens or profit-taking sentiment appears.
How did the price of OKB fluctuate after the burn?
The price of OKB after the burn surged sharply from around 60 USD to nearly 180 USD, increasing over 300% compared to early August 2024, according to TradingView and CoinMarketCap data.
Previously, OKB peaked at 73.7 USD in March 2024 and fell to 30 USD in July 2024, despite Bitcoin climbing to 108,000 USD at that time. This shows that the price of OKB reacts slowly to general market trends and depends heavily on internal events.
The burn effect led to a strong increase, but long-term price stability depends on actual demand and signals from new money flowing into the market.
CryptoQuant, Altcoin Market Analysis August 2024
The price movement after the burn also suggests a typical pump model due to reduced supply, but according to technical indicators, the market is at risk of being too hot in the short term.
Technical analysis: Is the OKB market too hot?
The RSI (Relative Strength Index) of OKB recorded a value of 92 - a historical high, signaling overbought risk. DMI and ADX were both below 20 last week, indicating that the market only reacted strongly after the burn news.
The trading volume is not yet at the level of the last bull run in late 2021, so the A/D indicator remains relatively flat, not showing strong new money entering compared to previous waves.
An overheated market often leads to technical corrections, but the upward trend may still continue if liquidity remains positive.
Arthur Hayes, former CEO of BitMEX, comments on the Altcoin market in the August 2024 podcast
On the 4-hour chart, strong short-term support areas are around 170–175 USD. If the price breaks below 170 USD, the likelihood of a drop to 130 USD is very high; investors should pay attention to set stop-loss orders to manage risk.
What does the market expect from OKB after the burn?
Although the price surged after the burn news, analysts believe the upward trend may continue due to FOMO effects and the expectation that 'OKB will become the second Bitcoin' due to its limited supply equivalent to Bitcoin.
However, many experts advise to observe the actual response of the cash flow and sustainable demand levels. If short-term capital withdraws or negative news appears in the market, the price could face strong corrections. It is still safest to wait for the market to establish a clear trend.
Investors need to monitor important support zones around 170 USD to catch the adjustment phase, limiting chasing behavior when technical indicators are signaling overbought.
Advice for OKB investors and traders
Experts warn that investors should not rely solely on the burn effect while ignoring market analysis, position management, and the risk of strong corrections if demand weakens.
Traders are advised to set stop-loss orders around technical support areas, controlling trading volume moderately to avoid significant losses in case the upward wave ends suddenly.
Impact Factors Short-term Influence Long-term Influence Supply Burn High Medium Sentiment & Demand Very High Very High New Cash Flow Medium High General Market Trend High High
Frequently asked questions
How much OKB did OKX just burn and how much supply remains?
OKX burned 279 million OKB, leaving a remaining supply of 21 million Tokens, according to CoinMarketCap data.
What is burning OKB and what benefits does it bring?
Burning is the action of permanently removing Tokens from circulation, reducing supply to increase value and long-term investment attractiveness.
How did the price of OKB fluctuate after the burn?
The price of OKB has increased over 300% after the burn news, from about 60 USD to nearly 180 USD in less than a week.
What risks exist for OKB investors?
The market is currently overbought, with a strong correction risk if short-term cash flow withdraws or profit-taking sentiment appears.
What are the important short-term support and resistance areas for OKB?
The 170–175 USD range is an important support area. If it falls below 170 USD, it may continue to drop to 130 USD.
Is the burn the only factor determining the price of OKB?
No. The price of OKB also depends on demand, sentiment, general market trends, and new investment cash flows.
What should investors do after this burn?
Investors should monitor the market closely, avoid chasing prices when it gets too hot, and set clear stop-loss orders to protect their capital.
Source: https://tintucbitcoin.com/okb-dot-nguon-cung-gia-tiep-tuc-tang/
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