Let me tell you a cold joke: the price of OKB has already caught up with SOL.
In the past ten days, OKB has skyrocketed from $46 to $258.6, a fivefold increase in just half a month, with a market cap soaring to $5 billion, and daily trading volume once surpassing BTC and ETH.
Can you believe it? An exchange token has surpassed the trading volume of major market coins!
Why is it so fierce?
The key point is August 13. OKX announced the largest token burn in history—65.2567 million OKB, directly cutting 52% of the circulating supply and locking the total supply at 21 million. In simple terms, it's like turning OKB into 'the second Bitcoin.'
As soon as the news broke, OKB surged 183% within 24 hours, jumping from $50 to $140; a few days later, it broke through $200, setting a new historical high. There was even an on-chain OKB price that was 42% higher than the exchange price.
This is not just a simple pump; it has completely pushed the narrative of scarcity and value to the extreme.
There is a bigger story behind it.
OKX is about to go public in the US: rumors say it will IPO in the US next year. Don't underestimate this step, the US is the largest crypto market globally, and listing can not only attract institutional funds but also bring a 'compliance halo' to OKB. When Coinbase went public, its market value once surpassed 100 billion; OKX definitely wants to replicate this effect.
X Layer Upgrade: In August this year, OKX upgraded its L2 network to 5000 TPS, with almost zero gas fees, and integrated Polygon's development kit. DeFi and GameFi projects can be rapidly deployed, making OKB a natural fuel token. As the ecosystem expands, the demand for OKB is further amplified.
Market Atmosphere: In this wave, many mainstream coins haven't moved much, but OKB has exploded first. Coupled with the accumulation of short positions, the scene of the big players harvesting is not uncommon, and such extreme movements are more likely to create 'golden pits' and emotional resonance.
What do I think?
The surge of OKB is driven by both the logic of value reassessment and market sentiment. News of burning, listing, and L2 upgrades can indeed support part of the value, but the short-term surge is too intense, and the risk of correction is not small.
If you haven't boarded, don't be envious of FOMO; after all, even the CEO has come out to remind you 'not to chase blindly.' But in the long run, the story of OKB has just begun. When the real news of listing in the US lands, combined with a bull market, it might be the climax worth looking forward to.
In the short term, emotions are overheated, and a correction is inevitable.
In the long term, it's a narrative of value, and the future is promising.
The surge of OKB is not a coincidence, but the beginning of the reassessment of the value of exchange tokens. Perhaps this is just the prelude to a larger wave.
The market is fluctuating wave after wave, it's easy to get lost when going solo.
If you want to seize the next opportunity to double your investment, feel free to join my circle and communicate with a group of old friends! Together we'll take fewer detours and outperform the next bull market!
