OKB Plunges Over 30% in 4 Days — When Will the Sell-Off End?

TradingKey – On Tuesday, August 26, OKX’s native token OKB extended its steep decline, dropping another 12% to a low of $168, before stabilizing around $171. Over the past four days, OKB has lost more than 30%, triggering concerns about whether the correction has run its course.

OKB Price Chart – Source: CoinMarketCap

From Historic Highs to Sharp Reversal

On August 13, OKX announced the burn of 65 million OKB and a strategic upgrade to its X Layer blockchain. The news sent OKB soaring over 200% in a single day. After a brief consolidation, the token surged again on August 20, prompting CEO Star Xu to issue a risk warning. On August 22, OKB hit a new all-time high of $258, but quickly reversed course.

OKB Weekly Price Chart – Source: TradingView

Positive News Fails to Halt Decline

Despite two bullish announcements — namely a $100 million X Layer launch fund and the rollout of a fee-and-rebate system on OKX DEX — OKB continued to slide. Broader crypto markets also pulled back this morning, with the Crypto Fear Index dropping to 43, indicating elevated investor anxiety.

However, analysts believe the worst of the panic selling may be over. OKB’s downward momentum is slowing, and technical support is expected near the $150 level, which previously marked the start of its August rally.

Macro Catalyst Ahead: U.S. PCE Report

This Friday (August 29), the U.S. will release its Personal Consumption Expenditures (PCE) data — a key inflation metric that could influence Federal Reserve policy. 

If the report supports rate cuts, it may stabilize the crypto market and spark a rebound in OKB. If not, OKB could continue its descent toward the $100 support zone.