While most of the cryptocurrency top 100 is experiencing minimal movement this week, OKX’s token has taken center stage. Over the past month, OKB has surged over 300%, reaching fresh all-time highs as the broader market remains flat. Why is OKB booming while other cryptocurrencies remain stagnant? The answer lies in a historic token burn by OKX, which significantly reduced the circulating supply of OKB. A significant burn event occurred on August 13th, permanently removing more than 65 million OKB from circulation, resulting in a dramatic decrease in supply, effectively locking in the total cap at 21 million—a similar scarcity level as Bitcoin. This move has had a strong effect on price, driving OKB’s price up by over 160% within days of the burn. Today, it reached above $240, making a new record high. This explosive performance comes in stark contrast to other leading cryptocurrencies currently experiencing minimal growth. Over the past 30 days, OKB has climbed almost 300%, easily outperforming all other top 100 coins, creating notable momentum within the market. However, this impressive surge might signal a short-term pullback, indicated by its RSI reaching an extreme level of 96—a level rarely seen even during strong bull markets. This suggests potential profit-taking from investors before the price begins to consolidate or retrace. The recent launch of OKX’s X Layer is also contributing to this token’s popularity, with the new blockchain offering fast and low-cost transaction speed for the entire ecosystem, including its exchange, wallet, payments, and now blockchain transactions. With this increased utility across the OKX platform, OKB has gained a significant advantage in the market. Will this momentum continue? Only time will tell as we analyze this token’s upcoming action.