$OKB is trading at $184 after an 11.8% pullback, yet remains dramatically elevated following its historic 177% weekly explosion.
While regulatory clouds linger and technicals show consolidation, the fundamental landscape has permanently shifted. With supply now permanently capped and utility expanding through X Layer integration, this pullback may represent a new foundation rather than a breakdown only if buyers defend key levels.
OKB ($OKB): Token Burn, X Layer Upgrade, and the Road Ahead
In mid-August, OKX permanently burned 65 million $OKB tokens, removing them from its reserve and reducing the circulating supply. This fixes the total supply at 21 million tokens. This scarcity-driven move triggered a sharp rally, sending $OKB to an intraday high of above $243 on August 21.
Alongside the burn, OKX launched X Layer, a zkEVM-based blockchain capable of 5,000 transactions per second with near-zero fees.
Over 90% of $OKB tokens migrated to X Layer, consolidating liquidity and utility. As the exclusive gas token, $OKB now powers OKX’s ecosystem, including Wallet, Exchange, and Pay, strengthening its role in both DeFi and real-world applications.
Significant changes are ahead, as OKX plans to retire the OKTChain blockchain entirely by January 1, 2026, migrating OKT holders to the X Layer network. Users can swap $OKT for $OKB at a fixed rate through the end of 2025.
Beyond technical upgrades, OKX aims to deepen its presence in regulated European markets such as Germany and Poland and is exploring a potential U.S. IPO, underscoring ambitions for institutional adoption.
OKX announced a $100 million X Layer Ecosystem Fund, which will provide grants for projects in payment solutions, liquidity infrastructure, and cross-chain interoperability. This strategic move is to increase adoption. OKX is positioning X Layer as a competitive hub for innovation by incentivizing developers in both DeFi and real-world assets.
$OKB Pullback Tests 20 SMA: Bulls Look for Momentum Reclaim Around $185
After a remarkable rally that propelled $OKB toward $240, the token has entered a controlled pullback phase, now hovering around $185. This phase brings technical clarity, particularly through the lens of its key moving averages.
The 20-period SMA (green line), currently sitting just below the asset’s price at around $200, acted as a pivotal support throughout the breakout phase but is now showing signs of soft rejection.
$OKB’s price dipped below this level earlier in the week and has since struggled to reclaim it convincingly.
This short-term moving average now serves as a dynamic resistance, a common theme during early stages of retracements when momentum begins to slow down.
Meanwhile, the 50-SMA (pink line) at $170 is becoming increasingly relevant. Its upward slope confirms that the broader mid-term trend direction remains intact, despite recent selling pressure.
This SMA level aligns closely with a key support zone that was established during the consolidation that preceded the explosive breakout—providing bulls with a technical anchor if the correction deepens.
$OKB’s volume activity paints a quieter picture, with relative participation levels remaining subdued compared to last week’s price increase.
That lack of decisive follow-through from either side suggests the market is still searching for a new catalyst. However, the volume footprint data reveals a consistent bid defense in the $175–$180 range, where buy-side deltas have started to firm up after earlier sessions of net selling.
Momentum indicators are leaning neutral for now. The RSI has retraced to 46.52—well out of overbought territory, but not yet signaling bullish divergence. The MACD is still below the signal line, hinting at continued consolidation or even another leg lower before a stronger recovery setup emerges.
$OKB’s short-term trajectory now hinges on how it reacts to the space between the 20 and 50 SMAs. A sweeping move back above $200 would shift the structure bullish again, while a further dip below $170 could trigger further downside.
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