The post How Low Could the OKB Price Fall After Its 450% Rise in August? appeared first on Coinpedia Fintech News
Recently, the OKB price has shocked the crypto market in August 2025, by giantly soaring over 450% and briefly outpacing Bitcoin and Ethereum in momentum.
This became possible as an upgrade turned its supply cap fixed at 21 million; this, combined with the launch of X Layer using OKB as gas, this gave this token a fresh narrative of scarcity and utility.
X Layer Upgrade Shifts OKB Utility
Earlier in August, the OKX exchange rolled out its “PP upgrade” to the X Layer network, which is built on Polygon technology. The update gave the network a boost as it unlocked around 5,000 transactions per second, near-zero fees, and most importantly, required OKB as the sole gas token.
Previously seen as mainly a discount token, OKB crypto is now positioned at the center of OKX crypto’s blockchain ambitions. Its transformation into a gas token has significantly provided a tangible role beyond exchange perks. This update is the sole reason that is fueling speculation about its long-term relevance in the broader crypto ecosystem.
Supply Cap at 21 Million Strengthens Scarcity Story
On August 13, the OKX did something unexpected when it suddenly executed a monumental burn of over 65 million OKB, locking its supply permanently at 21 million.
This dramatic shift mirrored Bitcoin’s fixed supply narrative and instantly reshaped investor perception.
As a result, the OKB price chart reflected this move almost immediately. Even Spot and derivatives markets recorded surging volumes as traders bid up the token.
Within days, the OKB/USDT pair broke past $200 and reached a new peak at $258 on August 22nd, signaling that scarcity combined with new utility had rewritten the OKB price forecast narrative on the bullish side.
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Breakout and Pullback Define August Performance
Following the mega burn and breakout, the OKB price USD touched new highs before retracing. By late August, OKB had cooled into the $170 to 200 range, reflecting a 35% correction from its all-time high. While this appeared heavy at first, the pullback aligned with broader market behavior.
Bullish Continuation After Possible Pullbacks$OKB has seen impressive gains recently, but after reaching new highs, the price is now in a minor pullback. The chart is showing a bullish flag formation with a potential breakout once the price consolidates further.… pic.twitter.com/bkR9Knmu8J
Support levels became clearer when compared to earlier milestones. On August 13, OKB had peaked at $148.97, a zone now seen as a critical level for potential stabilization.
This is the nearest level that could give the ongoing fall some stability, and then it could revisit its ATH.
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FAQs
Why is OKB price down today?
OKB is experiencing a pullback, down ~35% from its ATH, due to profit-taking after its 450% surge and aligning with a broader market correction.
What was the “PP upgrade” and how did it affect OKB?
The “PP upgrade” on the X Layer network boosted transaction speed and unlocked near-zero fees. It also made OKB the sole gas token.
Is OKB a good investment?
OKB’s new utility and scarcity make it a compelling asset, but it faces risks like market volatility and competition. Always do your own research before investing.