OKX’s Strategic Token Burn Propels OKB to Record Highs Amid X-Layer Upgrade

In a groundbreaking move, OKX's native token OKB skyrocketed over 120% to an all-time high of $135 following the announcement of a massive token burn. The exchange plans to permanently remove 65 million OKB from circulation, slashing the total supply to just 21 million tokens. This strategic supply shock coincided with OKX's upgrade of its Ethereum layer-2 network X-Layer, creating a perfect storm of bullish momentum. After the initial surge, OKB stabilized around $103 with an impressive $3.5 billion in trading volume during the rally. The dual catalysts of reduced supply and network enhancements position OKX as a formidable player in the competitive crypto exchange landscape, while demonstrating the powerful market impact of well-executed tokenomics strategies.

OKB Soars to Record High as OKX Announces Token Supply Reduction

OKB, the native token of cryptocurrency exchange OKX, surged more than 120% to a record $135 after the platform revealed plans to burn 65 million tokens, permanently reducing its supply to 21 million. The token, which also powers OKX's Ethereum layer-2 network X-Layer, settled near $103 with $3.5 billion in trading volume during the rally.

The supply shock coincides with OKX's strategic upgrade of X-Layer, positioning it as a hub for DeFi, real-world asset tokenization, and payments. Technical enhancements including reduced gas fees and higher throughput accompany the network's development, while the exchange phases out its legacy OKT Chain infrastructure.

OKB Price Surges 129% in a Day, Is a Drop to $103 Imminent?

OKB, the native token of OKX, has delivered a staggering 129.9% rally within 24 hours, peaking at an all-time high of $139.76 before settling NEAR $107.30. The surge propelled its market capitalization to $6.43 billion, accompanied by a jaw-dropping 15,764% spike in trading volume to $1.41 billion. Such volatility demands scrutiny—technical indicators suggest turbulence ahead.

The catalyst? OKX burned 65.26 million OKB tokens, eliminating over 52% of circulating supply and permanently capping issuance at 21 million. This aggressive deflationary move mirrors Bitcoin’s scarcity playbook, attracting speculative capital. Meanwhile, the X LAYER blockchain upgrade—boasting 5,000 TPS with near-zero fees—positions OKB as its gas token, potentially driving organic demand. Yet risks loom: the phased shutdown of OKTChain may unleash sell pressure as holders migrate OKT to OKB.