Key Takeaways:
- OKB surged 160% after a $65M token burn and a new 21M supply cap.
- OKX upgraded its X Layer network to boost DeFi, payments, and RWA support, while retiring OKTChain.
- OKX is integrating X Layer across its ecosystem and may pursue a U.S. IPO.
OKB, the native token of crypto exchange OKX, surged nearly 160% on Wednesday, jumping from about $45 to $135, after the platform unveiled major tokenomics and infrastructure changes.
The rally followed a one-time burn of 65,256,712.097 OKB from historical buybacks and treasury reserves, reducing total supply to a fixed 21 million tokens.
🚨 $8.18B OKB Burn Triggers Insane Price Surge
— Crypto Patel (@CryptoPatel) August 13, 2025
OKX will burn 65.26M $OKB, slashing supply to just 21M.
Price went crazy: +400% on MEXC, +200% on other exchanges.
This is what a real supply shock looks like.@okx pic.twitter.com/FupMJDZFCU
OKX also announced a major upgrade to its X Layer network, a zero-knowledge EVM public chain built with Polygon’s Chain Development Kit, boosting speeds to 5,000 TPS, lowering gas fees, and improving Ethereum compatibility.
To grow the X Layer ecosystem, OKX will launch a dedicated fund, offer liquidity incentives, and integrate X Layer with its wallet, exchange, and payments services, making it the default blockchain for OKX Pay.
The existing OKTChain will be phased out, with OKT trading ending August 13 and conversions to OKB running until January 1, 2026.
Ethereum L1 OKB will also be retired, with holders migrating to the new chain.
OKX is reportedly exploring a potential U.S. IPO after relaunching in the region in April, though no official confirmation has been given.
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