TLDR:
- Market: OKB is currently trading at $192, which suggests continued upward momentum, with its market cap showing the growth it has experienced recently and a 24-hour trading volume of approximately $6.2 million.
- Narrative: OKB rates climb following a significant OKX X Layer blockchain upgrade, in which it is the only native gas token collateralized by a single 65,256,712.097 OKB burn, anchoring supply at 21 million. Trading on X Layer is beating Ethereum, and assets are up, while the chain speculation vs meme coin keeps building steam.
OKB, the utility token of the OKX exchange, is currently trading at $192, with signs of sustained upward momentum following a series of strategic moves by OKX. The token’s price skyrocketed amidst an official August 13, 2025, X Layer Twitter announcement—the first in almost four months—for overhaul, now positioning OKB as the exclusive native gas token on X Layer in exchange for burning a one-time sum of 65,256,712.097 OKB from prior repurchases and reserves from the past. The burn, via smart contracts to programmatically burn deposited tokens into a black hole address, leaves OKB’s circulating supply at 21 million, thereby putting an end to manual burning and replicating the scarcity model of Bitcoin.
Such an effect is already observed on X Layer’s performance. Since last week, on-chain assets have increased by $84.89 million to an all-time historical maximum, while up to August 16, the number of transactions had grown to 2.05 million, for the first time in history surpassing Ethereum. Furthermore, user operation per second (UOPS) reached 19.23 yesterday, up from over a 1,000% increase, showing network throughput by 5,000 transactions per second and near-zero gas fees, due to the Polygon CDK integration completing on August 5. X Layer now has a rival to top-layer-2 solutions, pushing OKB’s demand and utility.
The OKB rally, with a price more than double from near lows, has garnered interest well beyond the token itself. Comments observed on X suggest direction for X Layer’s meme coins and speculation that bottom-fishing can experience tenfold or hundredfold returns, at the very least as OKB’s appreciation, though strong, trails that of conceivable in X Layer’s meme coin landscape. The story, however, hinges on X Layer adoption and the long-term impact of the burn on scarcity. Risks are of regulatory attention, as OKX has faced issues in Asia, as well as the potential that meme coin mania could overwhelm OKB’s fundamentals in the event that adoption remains lackluster. It is a high-stakes wager for investors looking toward OKB’s future at present as well as the nascent X Layer ecosystem, but consideration should be exercised within the current speculative mania.
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