OKX’s 65M Token Burn Ignites OKB Rocket: 170% Price Surge in 60 Minutes
When exchanges play with matches, tokens go supernova. OKX just lit the fuse.
Market Moves: Deflationary Gambit Pays Off
OKB's 170% vertical climb makes Bitcoin's volatility look tame. The catalyst? OKX torching 65 million tokens—roughly $2.6B at current prices—in a single burn event. Suddenly 'supply shock' isn't just a crypto Twitter buzzword.
Behind the Numbers: Controlled Burn or Controlled Narrative?
Exchanges love a good token burn—fewer coins in circulation, higher scarcity premiums. Never mind that they minted those tokens in the first place. This time, the market bought the story wholesale, proving crypto traders still fall for magicians' 'now you see it' tricks.
The Aftermath: Gravity Always Wins
Sure, double-digit percentage drops followed the initial spike—because what goes up must consolidate. But for one glorious hour, OKB holders got to taste what Wall Street quants feel during cocaine-laced algorithm parties. Just don't check your portfolio before the coffee kicks in tomorrow.
OKX Unveils ‘PP Upgrade’ to X Layer with Latest Polygon CDK Integration
Alongside the burn, OKX detailed a major upgrade to its Polygon-powered zkEVM public chain, X Layer, integrating the latest Polygon CDK technology in what it calls the “PP upgrade.”
The improvements increase throughput to 5,000 transactions per second, lower gas fees to near zero, and enhance ethereum compatibility for developers.
X LAYER will be embedded across OKX Wallet, OKX Exchange, and OKX Pay, introducing features such as gasless withdrawals for USDT and other major assets.
As part of the restructuring, OKX will decommission OKTChain due to overlapping functions, halting OKT trading on August 13, 2025, with automatic conversions to OKB starting August 15.
We are making a strategic upgrade to @XLayerOfficial, aiming to build a leading public chain focused on DeFi, payments, and RWAs.
Key updates:
1️⃣ Underlying tech – PP upgrade
2️⃣ Ecosystem development strategy
3️⃣ DEEP integration with OKX Wallet, OKX Exchange & OKX Pay
4️⃣… pic.twitter.com/OU4EpKtuJz
The chain will remain active until January 1, 2026, for final token deposits and conversions.
The tokenomics revamp will also see OKB remain the sole gas and native token for X Layer while phasing out its Ethereum L1 version. Users will need to bridge their tokens to X Layer via OKX before Ethereum L1 withdrawals are disabled.
OKX plans to bolster the ecosystem with a dedicated fund, liquidity incentives, and upgraded infrastructure, including cross-chain bridges, oracles, and compliance tools, in a bid to position X Layer as a leading network for DeFi, payments, and real-world asset applications.
OKX Integrates PayPal for Zero-Fee Crypto Purchases in Europe
In July, OKX partnered with PayPal to allow users in the European Economic Area to buy and deposit cryptocurrencies directly through the payments platform.
The MOVE aims to simplify the buying process by offering familiar, localized payment methods such as PayPal balance, linked bank accounts, and cards, with no extra setup needed once accounts are connected.
The initiative follows the exchange’s recent Markets in Crypto-Assets (MiCA) registration, ensuring full compliance with EU digital asset regulations.
Circle Internet Group and OKX have also announced a partnership aimed at expanding access to and liquidity for the USDC stablecoin.
The collaboration will introduce 1:1 conversions between USD and USDC on the OKX platform, improving trading efficiency and accessibility for the platform’s more than 60 million global users.
A key component of the partnership is the integration of direct 1:1 USD-to-USDC and USDC-to-USD conversions on OKX’s trading platform.
