OKB Skyrockets Over 170% After OKX Burns 65 Million Tokens in Historic Move (August 2025 Update)

• What Triggered OKB's Massive Price Surge?
• How Does the New Tokenomics Model Work?
• What Technical Upgrades Accompanied the Burn?
• What's Happening with OKTChain?
• How Is OKX Integrating These Changes Across Its Ecosystem?
• What's the Implementation Timeline?
• Why Does This Matter for Crypto Investors?
• OKB Token Burn: Your Questions Answered

In a groundbreaking move that sent shockwaves through the crypto market, OKX exchange executed the largest token burn in its history - permanently removing over 65 million OKB tokens from circulation. This strategic decision, combined with major technical upgrades to their X Layer network, propelled OKB's price by an astonishing 170% within hours. Here's everything you need to know about this market-shaking event and what it means for investors.

What Triggered OKB's Massive Price Surge?

The immediate catalyst was OKX's August 13 announcement of burning 65,256,712.097 OKB tokens - equivalent to historical buybacks and treasury reserves. This radical supply reduction permanently capped OKB's total supply at 21 million, mirroring Bitcoin's scarcity model. Market reaction was swift and dramatic: OKB jumped from $47 to over $140 before stabilizing around $110, as tracked by CoinGecko.

Source: CoinGecko

How Does the New Tokenomics Model Work?

OKX implemented several irreversible changes to OKB's economic structure:

• A smart contract now automatically burns all future transfers to a designated 'blackhole' address
• Minting and manual burn functions have been completely removed from the OKB contract
• The token becomes X Layer's sole native asset and gas fee payment method

This transition effectively makes OKB a deflationary asset with fixed supply - a feature that's historically boosted investor confidence in cryptocurrencies.

What Technical Upgrades Accompanied the Burn?

The August 5 network upgrade integrated Polygon's Chain Development Kit (CDK), significantly enhancing X Layer's capabilities:

• Throughput increased to 5,000 transactions per second
• Gas fees reduced to near-zero levels
• Improved Ethereum mainnet compatibility

These improvements position X LAYER as a competitive platform for DeFi, global payments, and real-world asset (RWA) tokenization - supported by a new ecosystem fund and cross-chain solutions.

What's Happening with OKTChain?

OKX has begun phasing out its older OKTChain network:

• OKT trading ceased on August 13
• Automatic OKT-to-OKB conversion begins August 15 based on July 13-August 12 price averages
• Complete shutdown scheduled for January 1, 2026

During the transition period, holders can still deposit OKT for on-chain conversion.

How Is OKX Integrating These Changes Across Its Ecosystem?

The exchange is implementing comprehensive support for X Layer:

• OKX Wallet now fully supports X Layer's low-cost transactions
• Zero-fee withdrawals for assets like USDT
• OKX Pay adopts X Layer as its default public network

This consolidation aims to reduce blockchain fragmentation and create a unified Layer 2 environment for users.

What's the Implementation Timeline?

OKX has outlined a clear rollout schedule:

Date	Milestone
August 15	OKT conversion begins; token burn executed
August 18	OKB smart contract update
January 1, 2026	OKTChain shutdown complete

Why Does This Matter for Crypto Investors?

As a BTCC market analyst noted, "The combination of supply shock through burning and technological upgrades creates a powerful value proposition. While past performance doesn't guarantee future results, fixed-supply tokens have historically performed well in bull markets." However, this article does not constitute investment advice.

The crypto market continues to evolve rapidly in 2025, and OKX's bold moves demonstrate how exchanges are adapting to compete in this new era of blockchain technology.

OKB Token Burn: Your Questions Answered

How many OKB tokens were burned?

OKX burned exactly 65,256,712.097 OKB tokens on August 13, 2025, permanently reducing the total supply to 21 million.

What was OKB's price before and after the burn?

According to CoinGecko data, OKB jumped from approximately $47 to over $140 (a 170% increase) immediately following the announcement.

Will more OKB tokens be burned in the future?

No - the smart contract update permanently removes all minting and manual burn functions, making the 21 million supply cap absolute.

What happens to OKT tokens now?

OKT is being automatically converted to OKB at a rate determined by its average price between July 13 and August 12, 2025.

Can I still withdraw OKB to Ethereum?

No - OKX has discontinued OKB withdrawals to ethereum Layer 1, encouraging migration to X Layer instead.