Bitcoin News Today: OKB Surges 100% on Burn Plan as Altcoins Rally Amid Growing Season Speculation

Generated by AI AgentCoin World
Saturday, Aug 16, 2025 10:28 am ET2min read
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Aime RobotAime Summary

- Late August saw major altcoins like OKB, KCS, ADA, HYPE, and ARB surge over 10% amid growing altcoin season speculation.

- OKB (OKX) surged 100% due to a 50% supply burn plan, trading at $93.91 with potential for further gains.

- KCS (KuCoin) rose 20% on its $2B Trust Project, ADA (Cardano) neared $1, and HYPE (Hyperliquid) approached $50 resistance as whale accumulation boosted volume.

- The altcoin season index at 47/100 indicates a transitional phase, with speculation of an imminent altcoin season after 249 days.

- Bitcoin corrected from $124k to $117k, while Ethereum approached $4,500, with both showing mixed technical signals.

Late August has seen a notable surge in several major altcoins, as

Bitcoin
and
Ethereum
maintained strong performances amid growing speculation about the potential onset of altcoin season. OKB, KCS,
ADA
, HYPE, and ARB collectively posted double-digit gains over the past seven days, drawing attention from traders and analysts alike [1].

OKB, the native token of OKX, surged over 100% in the past week, driven by expectations of a 50% supply burn on August 15 [1]. The token is currently trading at $93.91, and technical indicators suggest a potential continuation of its rally, though a drop below the 70 RSI level could signal a sell-off [1].

KuCoin’s KCS token also experienced a 20% rise, buoyed by the exchange’s $2 billion “Trust Project” initiative [1]. Traders are closely watching the $8.71 resistance and $3.40 support levels as KCS trades at $5.91 [1].

Cardano (ADA) rose 20% in the same period, supported by the broader bullish momentum in the crypto market. ADA is currently trading at $0.9517, approaching the $1 psychological level, with key resistances at $1.1723 and $1.3264 [1].

Hyperliquid (HYPE) gained 15%, with its price nearing $30 billion in daily trading volume driven by whale accumulation. The token is currently at $47.087, approaching the $50 R1 resistance level, with support at $42 and $35 [1].

Arbitrum (ARB) climbed 10%, bolstered by increasing institutional adoption and a positive market environment. ARB’s performance aligns with the broader altcoin rally as Ethereum continues its push toward its previous all-time high of $5,000 [1].

The altcoin season index, a metric that measures the dominance of altcoins relative to Bitcoin, stands at 47 out of 100 [1]. This suggests the market is currently in a transitional phase between Bitcoin and altcoin seasons, with speculation growing that the next altcoin season may be imminent. Over 249 days have passed since the last altcoin season, and with Bitcoin and Ethereum both performing strongly, traders are watching for signs of a broader market shift.

Bitcoin, currently trading at $117,374, recently corrected from its all-time high of $124,474. The next key resistance level is at $130,000, while a support level is estimated at $111,750 [1]. Ethereum, meanwhile, is approaching $4,500, with $4,800 acting as a critical resistance level ahead of its previous peak.

Technical indicators for both major cryptos show mixed signals: Bitcoin’s RSI is at 51 and sloping downward, while the MACD remains bullish with green histogram bars above the neutral level [1]. Ethereum’s RSI is also in a neutral range, with the $4,000 level acting as a key psychological support should a correction occur.

As the crypto market continues to evolve, the strong performance of these five altcoins highlights the growing appetite for risk and the potential for further gains in the coming weeks [1].

Source: [1] Chart of the week: OKB, KCS, ADA, HYPE and ARB could extend gains (https://coinmarketcap.com/community/articles/68a090180be0247aa9a98b24/)