Recent developments around the cryptocurrency OKB have attracted the attention of analysts and investors. The token has shown significant growth after the token burn and the OKX network upgrade.
Token Burn and Its Market Impact
At the moment, OKB trades around $205, with a market cap of $4.3 billion following a staggering price increase to $240 earlier this week. On August 15, OKX permanently removed 65.26 million OKB from circulation, amounting to nearly $7.6 billion at peak market prices. This burn cut the circulating supply by 52%, leaving only 21 million tokens in existence. Analysts note that such drastic supply reductions often trigger speculative buying.
Features of OKX Network Upgrade
On August 5, the zkEVM-based OKX network completed its "PP Upgrade," boosting throughput to 5,000 transactions per second while slashing gas fees. The upgrade deepened integration with the OKX Wallet and the core trading platform, while phasing out the older OKTChain to consolidate developer activity. OKB now plays a central role as the chain’s gas token, aligning with broader narratives around DeFi and tokenized real-world assets.
Price Predictions for OKB Ahead
Analysts are closely watching whether OKB can maintain support above key Fibonacci levels, particularly the $214 zone. From here, three potential scenarios emerge:
* **Bullish case:** If OKB holds above $214 and momentum accelerates, the next upside targets could sit at $260 and eventually $300. Strong DeFi adoption on X Layer combined with institutional interest in a capped-supply model could fuel this run.
* **Base case:** A period of consolidation between $180 and $220 is most likely in the short term. This would allow the market to absorb recent gains before setting up for another potential breakout.
* **Bearish case:** Failure to maintain support above $180 could see OKB retrace back to $150, especially if broader market sentiment weakens. However, with supply permanently reduced, deep pullbacks may attract aggressive buying interest.
With its circulating supply slashed in half and ecosystem upgrades boosting utility, OKB has morphed into one of the most aggressively deflationary tokens on the market. The coming weeks will disclose whether this momentum carries it into a new long-term price range.
