OKB Soars 134% After X Layer Upgrade and $65M+ Token Burn Announcement

Key Takeaways

• OKB spiked 133.92% following OKX’s announcement of a major X Layer upgrade and massive token burn.
• The upgrade will permanently fix OKB’s total supply at 21 million and phase out OKTChain.
• OKB reached an all-time high of $134 before settling around $129.

OKB, the utility token of the OKX cryptocurrency exchange, has seen an extraordinary 133.92% surge in the last 24 hours. This dramatic rally follows OKX’s announcement of a strategic X Layer upgrade, a significant tokenomics shift through the permanent burning of over 65 million OKB, and the phasing out of the OKTChain.

The news sent OKB briefly to a new all-time high (ATH) of $134 before retreating to around $129, underscoring the market’s bullish reaction to supply-limiting moves and infrastructure upgrades.

X Layer Upgrade and Supply Reduction

The headline development driving OKB’s rally is the OKX upgrade to X Layer, which will permanently cap the total supply of OKB at 21 million tokens.

This change comes through the burning of 65,256,712.097 OKB from historical buybacks and reserves, alongside the removal of minting and manual burn functions from the token’s smart contract.

In addition, OKTChain will be retired, with all OKT swapped for OKB based on the average closing price between July 13 and August 12, 2025. By eliminating token inflation risk and consolidating its ecosystem, OKX is positioning OKB as the core asset in its long-term strategy. The move mirrors tactics from other top exchanges that aim to increase scarcity and strengthen investor confidence.

OKB’s Role and Utility

Launched in 2017 by the OK Blockchain Foundation and OKEx (now OKX), OKB serves multiple purposes on the exchange:

• Trading Fee Discounts: Users can reduce costs when paying fees in OKB.
• Governance Rights: OKB holders can vote on platform decisions and upgrades.
• Loyalty Rewards: Incentives for holding OKB within the platform ecosystem.

Over time, OKX has differentiated itself from competitors like Binance by offering a dedicated options trading platform, integrated cloud mining services, and a strong focus on algorithmic trading through its built-in API.

Market Highlights

At the time of writing, OKB is trading at $107.00, with a 24-hour trading volume of $981.65 million. It ranks #25 on CoinMarketCap, boasting a market capitalization of $6.42 billion. The circulating supply stands at 60 million OKB, with no additional tokens planned due to the new fixed-supply model. This recent rally reflects not just speculative hype but also a long-term bullish case supported by fundamental supply constraints and ecosystem consolidation.

Final Thoughts

OKX’s aggressive move to cap OKB’s supply and upgrade to X Layer signals a major step in its evolution. By aligning tokenomics with scarcity and phasing out less efficient infrastructure, the exchange is setting the stage for long-term value appreciation. While short-term volatility is expected after such a sharp rally, OKB now has a stronger case as both a utility and a potentially deflationary asset in the exchange token sector.

Frequently Asked Questions

What caused OKB’s massive price surge?
The rally was fueled by OKX’s announcement of the X Layer upgrade, permanent supply cap, and a 65 million+ token burn.

How will the OKT swap to OKB work?
OKT tokens will be converted to OKB based on the average closing price between July 13 and August 12, 2025.

Is OKB supply now fixed forever?
Yes. The token’s smart contract has been upgraded to remove minting functions, permanently fixing supply at 21 million OKB.