By - OKX burns 65M OKB tokens, fixing total supply at 21 million.
- OKX’s X Layer upgraded for DeFi, payments, and RWAs.
- OKB price surges over 150% after the overhaul news.
OKX has ignited the market with a sweeping tokenomics overhaul that includes a one‑time burn of more than 65 million OKB.
As a result, the exchange’s native token rocketed intraday, while traders rushed to price in a fixed‑supply future and a faster on‑chain economy.
Supply locked, burn executed
OKX has announced a one‑time burn of 65,256,712.097 OKB pulled from historical buybacks and reserves.
Subsequently, the exchange will fix the total OKB supply at 21 million after a smart‑contract upgrade that removes minting and manual burn functions.
Moreover, the move mirrors a Bitcoin‑like scarcity model and signals a long‑term commitment to value stability.
Therefore, the burn aims to create durable deflationary pressure rather than a temporary squeeze.
OKB token reacted with a whipsaw rally
Following the announcement, OKB spiked roughly 170% within an hour, jumping from about $47 to the $124–$126 area.
Soon after, the token printed a fresh intraday high near $135.32 before easing, and it most recently traded around $116.84.
Meanwhile, 24‑hour performance showed gains above 150% by several measures, with turnover surging to roughly $1.83 billion.
As trading intensified, market capitalisation hovered near $6.99 billion, underscoring how quickly sentiment shifted.
Reconciling supply metrics
As of today’s snapshot, third‑party trackers like Coingecko show an “actively traded” circulating figure near 60 million within a legacy total supply of 235,957,685 and a max of 300,000,000.
However, OKX says the post‑burn architecture will permanently cap total supply at 21 million.
Therefore, data providers are expected to transition their methodologies once the contract upgrade and supply reset are complete.
In practice, traders should watch both on‑chain changes and dashboard updates to avoid confusion.
X Layer gets a performance lift
In parallel, OKX is upgrading the X Layer, its zkEVM chain built with Polygon technology.
Notably, the “PP upgrade” integrates the latest Polygon CDK to target throughput around 5,000 transactions per second while pushing gas fees toward near‑zero.
Additionally, X Layer is being wired across OKX Wallet, OKX Exchange, and OKX Pay to enable features such as gasless withdrawals.
As a result, developers will gain better Ethereum compatibility, while users get cheaper and faster settlement.
In addition, OKX says X Layer will focus on decentralised finance (DeFi), payments, and real‑world asset use cases.
Moreover, the company plans an ecosystem fund and liquidity incentives, alongside upgraded bridges, oracles, and compliance tooling.
Therefore, the overhaul is designed to attract builders while broadening end‑user utility.
If adoption follows, the structural demand for OKB as gas could strengthen over time.
OKB remains the gas token
Crucially, OKB will remain the exclusive gas and native token for X Layer under the new model.
However, the Ethereum L1 version of OKB will be phased out, and users will need to bridge their tokens to X Layer via OKX.
Therefore, traders should plan migrations early to avoid liquidity gaps and withdrawal limits.
In turn, the consolidation could concentrate activity on X Layer and support deeper utility for OKB.
OKX to retire the OKTChain
As it upgrades the X Layer, OKX will retire OKTChain due to overlapping functionality with the X Layer.
Accordingly, OKT token trading will be halted on August 13, 2025 (14:10, UTC+8), with automatic conversions to OKB tokens set for August 15 using an average closing‑price window from July 13 to August 12, 2025.
Meanwhile, OKTChain will remain operational until January 1, 2026, so users can continue depositing OKT for conversion during the wind‑down. Consequently, liquidity and user activity will shift in stages rather than all at once.
OKB price outlook
In the near term, the burn created a textbook supply shock that amplified price discovery.
However, sustained gains will depend on execution across X Layer, depth of integrations, and developer traction.
Consequently, traders should track the smart‑contract upgrade that cements the 21 million cap, the bridge timeline for L1 withdrawals, and the OKT conversion schedule.
In addition, close attention to fees, throughput, and real app launches on X Layer will help separate hype from durable utility.
The post OKX tokenomics and ecosystem overhaul sends OKB token skyrocketing appeared first on CoinJournal.
Comments