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OKB price hits new all-time high amid a 50% spike

  • OKB price rose 50% to hit a new all-time high of $195.
  • The altcoin is outpacing peers as investors react to tokenomics changes.
  • OKB is seeing traction as altcoins bid to break higher.

OKB, the native token of the OKX exchange, has soared to a new all-time high of $195, with intraday gains of over 50% catapulting the altcoin to the new ATH.

OKB’s price surge has also come amid a significant spike in daily volume, with market data showing the OKX token witnessed a staggering 428% uptick in 24-hour trading volume.

At the time of writing, the metric hovered around $1.17 billion.

Meanwhile, OKB is one of the standout performers in the past 24 hours and week, outpacing top altcoins as recent bullish catalysts keep bulls in control.

BNB also hit a new peak as exchange tokens rally.

Why OKB surged 50% as it hit a new all-time high

As top altcoins braced for a fresh dose of downside volatility, OKB extended its recent rally to a new ATH.

Having gone vertical from lows of $46 to highs of $116 on Aug. 13, the token retested the $92 area.

But bulls have traded higher since, breaking above $150 and hitting the intraday record high of $195 on Aug. 21.

OKB chart by CoinMarketCap

The buying pressure follows a strategic tokenomics overhaul that OKX undertook recently, with this significantly altering the OKB’s supply dynamics.

On Aug. 13, OKX executed a massive one-time burn of 65.26 million OKB tokens, slashing the circulating supply by over 50% to a fixed cap of 21 million tokens.

The move meant OKX aligned its token’s supply with Bitcoin’s hard cap, with the deflationary event a key catalyst to the parabolic price action.

The supply change has seen OKB’s market cap surge to $4 billion, while the price has increased nearly 90% in the past week and over 290% in the past 30 days.

As well as the token burn, OKX introduced an upgrade to its zero-knowledge Ethereum Virtual Machine (zkEVM) network built with Polygon technology.

The upgrade boosted the network’s transaction capacity to 5,000 transactions per second while slashing gas fees to near-zero levels, enhancing OKB’s utility as the native gas token.

 OKB price outlook

OKB’s price trajectory has pushed key technical metrics to extreme levels, with the Relative Strength Index (RSI) hitting overbought conditions.

Per the daily chart, OKB’s price hovers at a level where the RSI is above 92 and signaling a potential reversal.

OKX price chart by TradingView

However, the Moving Average Convergence Divergence (MACD) remains strongly bullish, with the MACD line above the signal line.

This and the histogram’s outlook suggest sustained buying pressure.

If bulls weather profit-taking deals, the next target will be a spike above $200 and further price discovery.

On the downside, support levels include $125 and $92.

The post OKB price hits new all-time high amid a 50% spike appeared first on CoinJournal.

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BNB price forecast: BNB sets a new ATH, targets $1k

Key takeaways

  • BNB surged by over 4% in the last 24 hours to hit a new all-time high of $882.
  • Binance’s native coin could rally to the $1k psychological level in the medium term.

Binance’s BNB hits a new all-time high

The cryptocurrency market performed positively on Wednesday following two days of steady decline. Bitcoin bounced back to trade above $114k after dropping to the $111k level earlier this week.

Ether, the leading altcoin by market cap, defended its price around the $4,100 support zone and is now trading around $4,300 per coin. However, BNB, Binance’s native coin, stole the headlines after hitting a new all-time high.

BNB added 4% to its value in the last 24 hours and hit a new all-time high price of $882 four hours ago. The positive performance shows BNB’s resilience during the recent market correction, as the coin didn’t record huge losses. This allowed it to immediately bounce back and hit a new all-time high. The new milestone also showcases Binance’s status as the leading cryptocurrency exchange in the world in terms of trading volume, as its BNB coin continues to gain adoption.

BNB’s rally also comes as Bitcoin’s dominance, measuring the largest crypto’s market share in the total market capitalization of digital assets, is on the brink of making a fresh six-month low. The declining Bitcoin dominance signals that smaller, riskier tokens are taking leadership in market gains, with analysts now suggesting that the altcoin season is here.

BNB eyes $1k as bulls regain control

The BNB/USD 4-hour chart is bullish and efficient thanks to BNB’s recent record high. With efficiency gained, BNB could be getting ready for another leg up. The technical indicators suggest that the bulls are also in control of the market.

The RSI of 59 shows that BNB is not yet in the overbought region and has room for growth. The MACD lines are also within the positive territory, suggesting a bullish momentum.

BNB/USD 4H chart

At press time, BNB is trading at $862, down 2% from its all-time high. If the rally continues, BNB could surge to the $900 mark over the next few hours or days. An extended bullish trend could see BNB test the $1k level for the first time in its history.

The post BNB price forecast: BNB sets a new ATH, targets $1k appeared first on CoinJournal.

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The altcoin uprising: Ether, Solana, and BNB defy market fear as Bitcoin stalls

  • Major altcoins like Ether and Solana are strongly outperforming Bitcoin.
  • BNB, the token of BNB Chain, surged 6% to a new all-time high of 875.
  • Bitcoin’s market dominance is on the verge of hitting a new six-month low.

In a stunning display of defiance, a powerful cohort of major altcoins staged a dramatic comeback on Wednesday, completely eclipsing Bitcoin and brushing off a wave of risk-aversion that sent traditional stock markets lower.

The move signals a potential changing of the guard, as leadership in the digital asset space appears to be shifting, at least for now, from the king to its court.

The rebellion was led by BNB, the native token of the BNB Chain, which blasted through to a fresh all-time high, surging 6% to hit 875.

The ferocity of the rebound was just as palpable in the Ethereum market, where Ether (ETH) rocketed 7% from its overnight lows to 4,350, completely erasing all of Tuesday’s losses in a single, powerful move.

Some market observers speculated the rally was fueled by ETH treasury firms strategically buying the dip.

The strength was broad-based. Solana’s SOL gained a formidable 6.1%, also outpacing its recent decline, while tokens for ChainLink and AAVE put on even more impressive shows, soaring 10% and 7%, respectively.

A king on shaky ground

While the altcoin market was exploding with activity, Bitcoin was a sea of calm. The leading cryptocurrency advanced a modest 1.4% from its lows, trading just above 114,000.

This tepid performance was more in line with the broader capital markets, where major stock indices like the S&P 500 and the tech-heavy Nasdaq closed in the red.

This stark divergence is forcing a market-wide reassessment. The relative strength of altcoins during a period of fear is a notable and potentially significant signal.

Bitcoin’s dominance—a key metric measuring its share of the total crypto market capitalization—is now teetering on the brink of a new six-month low.

Historically, a sustained fall in Bitcoin’s dominance is the classic harbinger of an “altcoin season,” a period where smaller, riskier tokens take the lead.

But before investors get carried away by dreams of repeating the wild, speculative rallies of past cycles, a crucial note of caution has been sounded.

Analysts at ByteTree, led by Shehriyar Ali and Charlie Morris, warn that the rules of the game have fundamentally changed.

“An alt season may be brewing, but it will not look like the wild rallies of the past,” their report stated. 

Instead, it will be defined by selective, fundamentals-driven growth, rewarding quality projects and penalising those without substance.

The message is clear: the era of blind speculation may be over. The current uprising is not lifting all boats equally.

Instead, it appears to be a more discerning, mature rebellion, one that is selectively rewarding projects perceived to have genuine value and long-term potential.

The post The altcoin uprising: Ether, Solana, and BNB defy market fear as Bitcoin stalls appeared first on CoinJournal.

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Bitwise forecasts Bitcoin as best-performing asset over next decade

  • Bitwise projects Bitcoin to deliver 28% annual returns over the next decade.
  • Institutions now view Bitcoin like equities and bonds for portfolio allocation.
  • Spot ETFs and corporate treasuries fuel Bitcoin’s growing long-term adoption.

Bitwise Asset Management expects bitcoin to deliver the strongest returns of any major asset class over the next ten years, projecting a compound annual growth rate of 28% with gradually declining volatility.

The forecast was shared in a new memo previewing the firm’s forthcoming Bitcoin Long-Term Capital Market Assumptions report.

Institutional demand spurs framework

The report, authored by Bitwise Chief Investment Officer Matt Hougan, is targeted at large platforms and professional allocators that are increasingly treating bitcoin as a “core” portfolio consideration.

Hougan notes that the shift follows the launch and widespread approval of spot bitcoin exchange-traded funds (ETFs), which have opened the asset class to mainstream retirement accounts and wealth platforms.

Interest in long-term planning has grown markedly.

Hougan said Bitwise received a dozen requests this year for long-term assumptions around bitcoin, compared with none between 2017 and 2024.

In his view, this marks an inflection point: institutions are now evaluating bitcoin in the same way they assess equities, bonds, and other traditional assets.

Favourable comparisons with traditional markets

While the full report is yet to be published, the preview states that bitcoin’s projected returns, volatility profile, and correlations compare favourably with established asset classes.

Bitwise characterises bitcoin’s correlations with other major assets as “low”, falling between −0.5 and 0.5, which many allocators value for diversification benefits.

The asset manager’s positioning of bitcoin’s outlook draws parallels with annual capital-market forecasts issued by large Wall Street firms such as JPMorgan, PIMCO, BlackRock, and Vanguard.

These outlooks help institutions determine long-term strategic allocations across asset classes including equities, fixed income, real estate, and alternatives.

Hougan argues that similar guidance is now warranted for digital assets, given their growing maturity and integration into mainstream investment products.

Growing Onchain and corporate holdings

Since spot bitcoin ETFs launched in January 2024, they have quickly gained traction.

On-chain holdings tied to these ETFs have grown to represent almost 7% of bitcoin’s fixed 21 million supply, with assets under management exceeding $146 billion, according to data from The Block.

Corporate treasuries have also expanded their exposure.

Publicly traded companies, led by MicroStrategy with a holding of 629,376 BTC, have collectively accumulated more than $80 billion worth of bitcoin.

These acquisitions have been financed largely through capital market activities, including equity offerings and convertible debt issuance.

Bitwise’s full Bitcoin Long-Term Capital Market Assumptions report is expected later this week.

It will provide detailed methodology and quantitative analysis, alongside side-by-side comparisons with forecasts for traditional asset classes from leading global asset managers.

For Bitwise, the release marks a bid to position bitcoin within the same framework used for decades to evaluate traditional investments.

For institutions, it reflects a growing acceptance of bitcoin not as a speculative play, but as a serious allocation option with defined risk and return expectations.

The post Bitwise forecasts Bitcoin as best-performing asset over next decade appeared first on CoinJournal.