OKB burned 65 million Tokens and launched "X Layer"! Price surged 6% challenging the 130 dollar mark.

The exchange token OKB continued its strong rise this week, with an increase of over 6%, breaking through 127 USD and entering a high-level consolidation after refreshing its historical record. Behind this wave of market activity is the largest token burning in history and the launch of the brand new L2 network "X Layer" on CEX, which triggered a rare supply shock in the crypto market.

Epic token burning + L2 upgrade, rewriting OKB value logic

Token burning: CEX permanently burned 65,260,000 OKB, establishing a hard supply cap of 21,000,000.

Smart Contract Upgrade: Disable Future Minting and Burning Functions to Strengthen Scarcity Model

X Layer launch:

· Ethereum Layer 2 Network Based on zkEVM

· Provides approximately 5,000 TPS and near-zero transaction fees.

· Fully compatible with the Ethereum ecosystem

· OKB becomes the native Gas Token

At the same time, CEX announced the gradual phasing out of OKTChain, automatically converting OKT to OKB, with plans to fully retire OKT on January 1, 2026.

Supply Shock Ignites Price Surge

After the token burning and the launch of L2, the price of OKB surged 160%–170% in the short term, briefly breaking through the 130 USD mark.

Market Cap: Approximately 2.66 billion USD

Holding Structure: Approximately 17,900 on-chain holders, with the top 10 addresses holding 67% of the supply.

Technical Analysis: High-level consolidation, with key resistance at 130 USD.

Resistance level: 130 USD (historical high)

Support zone: $120–$122 (high volume liquidity area)

Short-term structure:

· Price is above the 20, 50, and 100 period moving averages

· The 20-period moving average (approximately 122 USD) coincides with the high volume support area.

· The 1-hour chart shows strong initial buying pressure, but profit-taking occurs at high levels, and trading volume appears slightly weak.

Market Outlook: Bulls Need to Regain Control

If the bulls can reactivate the buying momentum and push the price above $130, OKB is expected to enter a new round of price discovery, challenging the psychological barrier of $150.

Conversely, if it breaks below the support at $120, it may retest $115 or even lower.

Given the permanent supply reduction and the favourable fundamentals of X Layer, long-term holders are likely to actively defend at key support areas, limiting the downside potential.

Conclusion

The recent surge of OKB is not merely market speculation, but rather the result of the reconstruction of the token economic model and the implementation of technological upgrades. With the expansion of the X Layer ecosystem and the further consolidation of OKB's scarcity, this token may continue to attract capital attention in the coming months.