OKB Skyrockets 160% After Burning 65 Million Tokens and Major X Layer Upgrade

• What Triggered OKB's Historic Price Surge?
• How Does the X Layer Upgrade Factor In?
• What's Happening to OKTChain and Ethereum L1 OKB?
• Is an OKX US IPO Really Coming?
• What Does This Mean for Crypto Investors?
• OKB Tokenomics FAQ

In a stunning market move, OKB - the native token of cryptocurrency exchange OKX - surged nearly 160% in 24 hours following dramatic ecosystem changes. The price explosion came after OKX announced a massive token burn of 65,256,712 OKB (worth approximately $3 billion at current prices) and implemented a hard cap of 21 million tokens. Simultaneously, the exchange unveiled significant upgrades to its X Layer blockchain, transitioning away from older networks while facing regulatory challenges across Asia. This perfect storm of tokenomics restructuring and technical improvements created one of 2025's most explosive crypto rallies.

What Triggered OKB's Historic Price Surge?

The primary catalyst was OKX's decision to permanently remove over 65 million OKB tokens from circulation on August 14, 2025. According to TradingView data, OKB/USDT jumped from $45 to $135 within hours of the announcement. The burn represented about 75% of OKB's previous circulating supply, with tokens sourced from historical buybacks and treasury reserves. By implementing a fixed maximum supply of 21 million (mirroring Bitcoin's scarcity model), OKX effectively created artificial scarcity while demonstrating long-term commitment to token value appreciation. Market analysts at BTCC noted this was one of the most aggressive supply shocks in recent crypto history.

How Does the X Layer Upgrade Factor In?

Parallel to the token burn, OKX completed its "PP Upgrade" for X Layer - a zero-knowledge ethereum Virtual Machine (zkEVM) chain powered by Polygon's CDK technology. The August 5th update boosted transaction capacity to 5,000 TPS while reducing gas fees to near-zero levels. More importantly, it enhanced Ethereum compatibility for developers migrating decentralized applications (dApps). X Layer now positions itself as a premier blockchain for DeFi, payments, and real-world asset (RWA) applications, with full integration across OKX Wallet, Exchange, and Pay services. As one developer quipped on Crypto Twitter: "They've essentially built an Ethereum L2 with exchange-grade throughput."

What's Happening to OKTChain and Ethereum L1 OKB?

In a strategic consolidation move, OKX will sunset its Cosmos-based OKTChain layer-1 blockchain. OKT trading ceases August 13th, with periodic conversions to OKB at closing prices until January 1, 2026. Similarly, the Ethereum L1 version of OKB will be deprecated in favor of X Layer. Users must migrate assets, after which OKX will disable the token's minting and burning smart contract functions permanently. This streamlining reflects the industry's broader shift toward modular blockchain architectures - though some community members lament losing IBC compatibility from the Cosmos-based chain.

Is an OKX US IPO Really Coming?

Industry insiders suggest these radical changes may precede a US initial public offering. After re-entering the American market earlier this year, OKX appears to be aligning its structure with traditional financial expectations - fixed token supply, clear regulatory compliance, and enterprise-grade infrastructure. However, challenges remain. The Thai SEC moved to block OKX in May, while Philippine regulators recently warned the exchange (along with nine others) about unauthorized operations. As one VC investor told me privately: "They're cleaning house for something big, but regulatory hurdles could delay timelines."

What Does This Mean for Crypto Investors?

The OKB situation offers a masterclass in tokenomics engineering. By combining aggressive supply reduction with substantive ecosystem improvements, OKX created a textbook "buy the rumor, sell the news" event. However, sustainability remains questionable - maintaining 160% gains requires ongoing utility and adoption. X Layer's success attracting developers will be crucial, especially with competing zkEVMs like zksync and Scroll gaining traction. For now, the market has voted bullish: OKB's trading volume surged 2,400% to $850 million during the pump according to CoinMarketCap data.

This article does not constitute investment advice. cryptocurrency investments are volatile and high-risk.

OKB Tokenomics FAQ

How many OKB tokens were burned?

OKX permanently removed 65,256,712 OKB tokens from circulation on August 14, 2025.

What is OKB's new maximum supply?

The hard cap is now set at 21 million OKB, similar to Bitcoin's scarcity model.

When will OKTChain be discontinued?

OKT trading ends August 13th with conversions to OKB continuing until January 2026.

What are X Layer's key improvements?

The upgrade delivers 5,000 TPS capacity, near-zero fees, and enhanced Ethereum compatibility.

Is OKX really planning a US IPO?

While unconfirmed, the exchange's recent structural changes suggest preparations for public markets.