In August 2025, the price of the OKB token showed an impressive increase, rising over 450% and briefly outpacing leading cryptocurrencies like Bitcoin and Ethereum. This surge was driven by an upgrade that established a fixed supply cap and positioned OKB as the primary gas token in the X Layer network.
X Layer Upgrade Boosts OKB Utility
Earlier in August, the OKX exchange rolled out the "PP upgrade" for the X Layer network built on Polygon technology. This upgrade significantly enhanced the network's performance, allowing nearly 5,000 transactions per second and nearly zero fees. Importantly, OKB is now the sole gas token required for transactions.
Supply Cap at 21 Million Strengthens Scarcity
On August 13, OKX unexpectedly executed a significant burn of over 65 million OKB, permanently capping the supply at 21 million. This change drew comparisons to Bitcoin's fixed supply narrative and reshaped investor perceptions.
OKB Performance in August: Breakouts and Pullbacks
Following the burn and breakout, the price of OKB reached new highs before experiencing a pullback. By late August, OKB stabilized in the $170 to $200 range, with its peak recorded at $258 on August 22, demonstrating sustained demand for the token.
The increase in OKB price is a result of a successful upgrade and significant supply limitation. Interest in this token remains high, although the market's inherent volatility poses potential risks for investors.
