OKX Enhances X Layer with Major Upgrade, Burns 65M OKB, and Fixes Supply at 21M

On August 13, 2025, OKX announced a significant upgrade to its X Layer blockchain, focusing on improving performance for decentralized finance (DeFi) and payments. As part of this upgrade, OKX permanently burned 65,256,712 OKB tokens from reserves and buybacks, a strategic move to tighten supply dynamics. Additionally, the OKB smart contract has been reconfigured to eliminate minting capabilities and manual burns, effectively capping the total supply at 21 million tokens. This development underscores OKX's commitment to creating a deflationary model for OKB, enhancing its scarcity and long-term value proposition in the crypto market.

OKX Upgrades X Layer, Burns 65M OKB, and Fixes Supply at 21M

OKX has unveiled a significant upgrade to its X LAYER blockchain, targeting enhanced performance with a focus on decentralized finance (DeFi) and payments. The upgrade includes the permanent burning of 65,256,712 OKB tokens from reserves and buybacks, a move designed to tighten supply dynamics.

The OKB smart contract has been reconfigured to eliminate minting capabilities and manual burns, effectively capping total supply at 21 million tokens. OKTChain will be phased out, with OKT tokens convertible to OKB at an average price calculated between July 13 and August 12, 2025.

Market reaction was immediate—OKB briefly surged to a record $134 before stabilizing NEAR $129. The burn-and-cap mechanism signals OKX's commitment to scarcity-driven value accrual, mirroring Bitcoin's fixed-supply ethos.

OKB Surges 140% Following OKX's Token Burn and Supply Cap Announcement

OKX's native token OKB skyrocketed to a record high after the exchange unveiled plans to permanently burn 65 million tokens and fix total supply at 21 million. The 140% single-day surge marks one of crypto's most dramatic reactions to fundamental supply shocks.

The strategic upgrade to X Layer network transitions OKB into a deflationary asset while retiring OKTChain. Market participants immediately priced in the reduced float, with OKB trading near $110 as buy pressure overwhelmed sellers.

Exchange-token economics take center stage as OKX joins Binance in implementing aggressive burn mechanisms. The MOVE signals growing institutional sophistication in tokenomics design, with permanent supply caps becoming a hallmark of mature projects.