OKB Price Surges 110% as OKX Burns 279 Million Tokens
The native token of the OKX cryptocurrency exchange, OKB, has seen a 110% price increase over the past week. This surge is attributed to a significant burn of 279 million OKB tokens, valued at approximately $26 billion.
Key Developments
- Recent burn reduced total supply from 300 million to 21 million tokens.
- OKB currently trades at $96.11, experiencing a 9.42% decline in the last 24 hours.
- Moving Average and RSI indicators suggest a potential breakout ahead.
- Plans for an additional burn of around 65.26 million tokens were announced.
- Tokenomics model updated to remove minting and manual burns.
- Integration with PayPal aims to enhance user access to crypto services.
- Upgrade of X Layer for improved DeFi and payment application support.
OKB price chart. | Source: TradingView