Bitcoin News Today: OKB Soars 400% on $7.6B Token Burn and X Layer Launch

In August 2025, OKB experienced a significant surge, rising by as much as 400% following a historic $7.6 billion token burn and the launch of the OKX X Layer chain [2]. This move defied the broader altcoin market's instability, with OKB's price rising over 45% in a 24-hour period [1]. The token burn contributed to a fixed supply model of 21 million tokens, aligning OKB with strong scarcity principles in the industry and enhancing its utility through the X Layer chain [2].

OKB's performance contrasted with Bitcoin and Ethereum, which faced downward pressure during the same period [2]. The market cap for OKB fluctuated between $3.52 billion and $5.03 billion, while trading volumes surged, signaling renewed investor confidence [2]. The token's upward momentum was supported by both retail and institutional investors, with on-chain data showing increased accumulation of OKB by long-term holders [2].

This rally in OKB coincided with a broader shift in investor attention from Bitcoin to altcoins, particularly in the derivatives market [3]. Ethereum’s perpetual futures volume dominance exceeded Bitcoin's for the first time in history, indicating a capital rotation toward alternative assets [3]. Open interest across major altcoins reached a record $60.2 billion, underscoring heightened speculative activity [3]. Glassnode observed that Bitcoin was in a late-stage bull cycle, marked by prolonged supply above the +1 standard deviation band—historically a precursor to market corrections and a pivot toward altcoin activity [3].

OKB’s surge was further reinforced by its unique positioning in a turbulent market. The token’s fixed supply model and enhanced utility through the X Layer chain attracted attention from investors seeking resilience amid broader market volatility [2]. Some analysts speculated that OKB could reach $300 by the end of the week, given its recent momentum [1]. The token’s performance also aligned with broader altcoin trends, as investors increasingly turned to projects like Cardano and Ethereum, which were highlighted for potential growth [4].

Looking ahead, OKB faces potential regulatory challenges, particularly as OKX plans a U.S. listing in 2026 [2]. However, its recent token burn strategy and technological advancements suggest a foundation for long-term value retention. Institutional interest, as reflected in on-chain data, supports the idea of OKB as a viable candidate for sustained growth [2].

Source:

[1] OKB surges 26%: Will it hit $300 this week? - InvestX, [https://investx.fr/en/crypto-news/okb-surges-26-heading-towards-300-before-week-ends/](https://investx.fr/en/crypto-news/okb-surges-26-heading-towards-300-before-week-ends/)

[2] Bitcoin News Today: Retail Demand for Bitcoin Wanes as..., [https://www.ainvest.com/news/bitcoin-news-today-retail-demand-bitcoin-wanes-memecoins-swing-hype-collapse-2508/](https://www.ainvest.com/news/bitcoin-news-today-retail-demand-bitcoin-wanes-memecoins-swing-hype-collapse-2508/)

[3] Bitcoin signals late-stage bull cycle as Ethereum gains..., [https://www.fxstreet.com/cryptocurrencies/news/is-the-crypto-bull-market-cycle-nearing-its-late-phase-glassnode-analysts-weigh-in-202508220230](https://www.fxstreet.com/cryptocurrencies/news/is-the-crypto-bull-market-cycle-nearing-its-late-phase-glassnode-analysts-weigh-in-202508220230)

[4] 7 Best Altcoins for Resilient Growth - magacoin finance, [https://coincentral.com/7-best-altcoins-for-resilient-growth-cardano-magacoin-finance-ethereum-gain-attention/](https://coincentral.com/7-best-altcoins-for-resilient-growth-cardano-magacoin-finance-ethereum-gain-attention/)