If you’re wondering where the real action is in the crypto market today, it’s not just Bitcoin. A handful of major exchange tokens are putting up massive numbers, and each one has a specific, powerful catalyst behind its move. So let’s break down what’s driving the rallies in the top 5 CEX tokens and what it means for you. 🔔 New Bitcoin All-Time High has reached $124,533.00! 🚀 #Bitcoin #btc #ATH — ₿itcoin ATH Alert Bot 🔔 (@BTC_ATH_alert) August 14, 2025 OKB Stands Out The standout performer of the day is OKB, the native token of OKX, which skyrocketed 126% to a record high. The move followed a one-time burn of 65.26 million OKB, worth around $7.6 billion, slashing its total supply by over 50% to 21 million tokens, mirroring Bitcoin’s hard cap. The unprecedented deflationary event, one of the largest in exchange token history, has positioned OKB as a prime scarcity play in a market already hungry for limited-supply assets. Full story. That OKB token burn was one of the biggest in history. Here is CoinEdition’s report into the massive supply cut. BNB Heats Up Binance Coin (BNB) is also heating up, climbing within just 0.7% of its all-time high of $859.56. Traders are eyeing $1000 as the next milestone, with momentum fueled by Bitcoin’s breakout and the expectation that higher exchange activity will drive revenue for major platforms. The proximity to a new price record has ignited bullish speculation with analysts targeting prices as high as $2,000. 🚨 HashGlobal says $BNB could blast up to $2,000+ 🚀I’ve already told you many times about those $2000+ targets, now it’s getting real.Big thanks to @cz_binance for letting us be part of this amazing ride. pic.twitter.com/H4CbBRSedR — Crypto Patel (@CryptoPatel) August 12, 2025 BGB Volume Explodes Bitget Token (BGB) followed suit, jumping 9% to $4.79 as its 24-hour trading volume exploded 443% to $563 million. The spike in activity comes after Bitget completed a massive burn of 860 million BGB, around 43% of total supply, over the past eight months, including 30 million in Q2 2025 alone. On-chain data reveals whales have been moving significant amounts of BGB off exchanges, a sign of long-term accumulation that reduces sell-side pressure and reinforces the bullish case. Whales are accumulating $BGB recently.0x8900 withdrew 192,668 $BGB($936K) from #Bitget over the past 2 months.0x171D withdrew 30,607 $BGB($134K) from #Bitget 2 days ago.0x7C9C withdrew 20,980 $BGB($102K) from #Bitget over the past 3 months.Notably, #Bitget has burned a… pic.twitter.com/RNZSuZr0T2 — Lookonchain (@lookonchain) August 13, 2025 KCS Prints Impressive Gains KuCoin Token (KCS) also impressed with an 18% rally, driven by a sharp 188.72% surge in trading volume. The exchange’s newly launched KCS Loyalty Program, offering fee discounts of up to 22%, early product access, and staking rewards, has added fresh utility to the token. Combined with KuCoin’s growing user base of over 41 million in the first half of 2025, top-tier security ratings, and a rapidly expanding futures platform ranked fourth globally, KCS could test the all-time high set over four years ago. KuCoin’s native token KCS jumped 15.43% in the past 24 hours, ranking among the top five gainers in the top 100 cryptocurrencies by market cap. Analysts attribute the rally to the launch of the KCS Loyalty Program, KuCoin’s strong market share growth in H1 2025, and positive… — Wu Blockchain (@WuBlockchain) August 10, 2025 GT Comes Closer to ATH GateToken (GT) rounded out the list with a 5% gain to $21.26, edging closer to its ATH of $25.95. Its recent strength can be traced to speculative inflows into exchange tokens as Bitcoin’s leverage ratio hit a five-year high, historically a catalyst for CEX coin rallies. GT’s trading volume spiked 380% to $47 million, reflecting surging market interest. In July, Gate derivatives volume surged nearly 50%, hitting $740 billion as the exchange’s market share also rose. Gate derivatives volume surged nearly 50% in July.Last month, @Gate_io hit $740 billion in derivatives trading volume, a 46.5% growth compared to June.This performance boosted Gate's market share to 11% among major CEXs, making it one of the fastest-growing exchanges. pic.twitter.com/HwjpX9H0IF — CryptoRank.io (@CryptoRank_io) August 5, 2025 With only 122.9 million GT now in circulation and quarterly burns scheduled, scarcity also remains a powerful bullish driver. A different path. While these exchanges build value through their tokens, some others prefer the Wall Street route. Here’s our story on the Bullish IPO. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.