How Low Could the OKB Price Fall After Its 450% Rise in August?

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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.

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.

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.