In a dramatic market move, OKB, the native token of OKX exchange, skyrocketed 120% within 24 hours following OKX's announcement of a massive 65 million token burn. This strategic reduction effectively halved OKB's circulating supply, creating immediate scarcity value. The bullish momentum was further amplified by OKX's unveiling of its new X Layer blockchain - a Polygon zkEVM-based network promising 5,000 transactions per second with near-zero gas fees. This infrastructure positions OKX as a serious contender in the DeFi and payments space. Meanwhile, Arbitrum showed notable strength with 17% daily gains, though analysts caution about potential 20-25% pullback risks for the layer-2 solution. SEI also emerged as an altcoin standout during this period of Bitcoin dominance, demonstrating the continued appetite for innovative blockchain projects. These developments highlight how strategic exchange initiatives and technological advancements can create explosive movements in the altcoin market even during periods of Bitcoin supremacy.
OKB, Arbitrum, SEI Emerge as Altcoin Standouts Amid Bitcoin Dominance
OKB's price surged 120% in 24 hours following OKX's announcement of a 65 million token burn, effectively halving its supply. The exchange's new X Layer blockchain, built on Polygon zkEVM, promises 5,000 TPS with near-zero gas fees, positioning it for DeFi and payments infrastructure.
Arbitrum shows strength with 17% daily gains, though analysts warn of potential 20-25% pullback risks. The layer-2 solution maintains $2.8 billion market cap with over $1 billion daily volume, showing particular strength in ARB/ETH and ARB/BTC pairs.
Market capitalization across cryptocurrencies now exceeds $4.1 trillion as capital begins rotating toward altcoins with recent catalysts or infrastructure utility, though Bitcoin maintains over 60% market dominance.
