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Analysis: OKB's on-chain price surge is attributed to low liquidity, strong hodling, and lack of cross-chain support
BlockBeats News, August 21st. On-chain analyst Ai Auntie (@ai_9684xtpa) tweeted that the on-chain price of OKB reached a peak of $342. The on-chain liquidity of OKB on the Ethereum mainnet was only $253,000. The official team either burned most of the tokens or migrated them to the X Layer. Additionally, there is no cross-chain support between the two networks. Therefore, 6 addresses bought 138.44 OKB between 20:46 and 21:08, successfully boosting the price.
Currently, there are a total of 856,000 OKB tokens on the Ethereum mainnet, accounting for 4% of the total supply. The top 5 holding addresses own 68% of the tokens, with the top 4 addresses belonging to the OKEx exchange platform.
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