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

OKX announced a major upgrade to its X Layer blockchain, boosting performance and focusing on DeFi and payments. As part of this, OKX permanently burned 65,256,712 $OKB tokens from reserves and buybacks. The $OKB smart contract was upgraded to remove minting and manual burns, fixing the total supply at 21 million. OKTChain will be phased out, with OKT tokens swapped for $OKB at an average price from July 13 to August 12, 2025. Following the news, $OKB briefly hit a $134 all-time high before settling near $129.