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

• Why Did OKB’s Price Explode 160% Overnight?
• X Layer’s "PP Upgrade": What’s New Under the Hood?
• Goodbye OKTChain, Hello X Layer: The Great Migration
• U.S. IPO Dreams vs. Asian Regulatory Nightmares
• FAQ: Your Burning Questions Answered

In a jaw-dropping move, OKX’s native token OKB surged nearly 160% in just 24 hours following the platform’s announcement of a massive token burn and a groundbreaking upgrade to its X Layer blockchain. The price catapulted from $45 to $135 after OKX permanently removed 65.25 million OKB from circulation, capping the total supply at 21 million—echoing Bitcoin’s scarcity model. Alongside this, the "PP Upgrade" for X Layer (OKX’s zkEVM chain) now delivers 5,000 TPS, near-zero gas fees, and deeper ethereum compatibility. The exchange is also phasing out OKTChain and OKB’s Ethereum L1 version, pivoting fully to X Layer. Rumors swirl about a potential U.S. IPO, even as regulatory challenges persist in Asia. Buckle up—this is crypto news at its most explosive.

Why Did OKB’s Price Explode 160% Overnight?

The meteoric rise of OKB on August 14, 2025, wasn’t just hype—it was fueled by two seismic shifts. First, OKX executed a one-time burn of 65,256,712 OKB tokens (worth ~$3 billion at the time), slashing circulating supply by 24% overnight. Second, the platform unveiled sweeping upgrades to X Layer, its Ethereum-compatible zkEVM chain. Traders went berserk; the OKB/USDT pair on BTCC and other exchanges saw volumes spike 400% (per TradingView data). "This isn’t just a supply shock—it’s a full ecosystem reboot," noted a BTCC analyst. The burn drew comparisons to Ethereum’s EIP-1559 mechanism, but with a twist: OKX pledged zero future minting, making OKB definitively deflationary.

X Layer’s "PP Upgrade": What’s New Under the Hood?

Completed on August 5, X Layer’s overhaul isn’t just incremental—it’s a quantum leap. By integrating Polygon’s latest CDK tech, the chain now handles 5,000 transactions per second (up from 300) with gas fees under $0.001. Developers get near-perfect EVM equivalence, meaning Ethereum dApps can port over with minimal changes. OKX is betting big on real-world assets (RWA), positioning X Layer as a hub for tokenized stocks, bonds, and even coffee futures (yes, really). A $50M ecosystem fund sweetens the deal for builders. "We’re seeing projects like Alchemy Pay and Pendle already migrating," shared an OKX engineer in a Spaces chat. The chain’s new default status across OKX Wallet, Exchange, and Pay ensures a firehose of users.

Goodbye OKTChain, Hello X Layer: The Great Migration

Out with the old, in with the zk-powered. OKX is sunsetting OKTChain—its Cosmos-based L1—with OKT trading halting August 13. Holders can convert OKT to OKB at a 30-day rolling average until 2026. Similarly, OKB’s Ethereum L1 version is being deprecated; users must migrate to X Layer. The moves consolidate OKX’s stack into a single, scalable foundation. "It’s painful short-term but necessary long-term," admitted CEO Star Xu in a now-deleted tweet. The cleanup includes nuking OKB’s mint/burn functions—no takebacksies on that 21M cap.

U.S. IPO Dreams vs. Asian Regulatory Nightmares

Behind the scenes, OKX is playing 4D chess. Their U.S. relaunch earlier this year (complete with Miami billboards) hints at IPO ambitions. Sources whisper about Nasdaq talks, though OKX stays mum. Meanwhile, regulators in Thailand (May 2025) and the Philippines (August 2025) have labeled OKX "unauthorized." The exchange insists it’s "proactively engaging" with authorities. Fun fact: OKX’s Malta license quietly expired last quarter. Whether this is strategic retreat or regulatory roulette depends on who you ask.

FAQ: Your Burning Questions Answered

How does OKB’s new supply cap compare to Bitcoin?

Both now share a 21 million hard cap, but OKB’s circulating supply post-burn is ~19M vs. Bitcoin’s ~19.5M. The key difference? Bitcoin’s last coin mines in 2140; OKB hit its max supply instantly.

Can I still trade OKT after August 13?

Nope—OKT markets close permanently. Convert to OKB via OKX’s automated portal before January 2026.

Will X Layer’s low fees last?

Polygon’s tech suggests sub-cent fees are sustainable, but congestion could spike costs. Testnet data shows 90% of transactions cost