OKB, the native token of crypto change OKX, surged by greater than 110% in only one hour on Wednesday, recording an all-time excessive (ATH) of $142.88.
The surge adopted a major announcement, with the response mimicking token reactions to itemizing information on standard exchanges.
OKX Broadcasts Token Burn and X Layer Improve: All You Must Know
Based on on-chain knowledge and statements from OKX, the change completely eliminated 65,256,712.097 OKB tokens, value billions of {dollars}, from circulation in a single transaction.
The burned tokens got here from historic buybacks and treasury reserves. As is typical of token burns, they have been despatched to a “black gap” deal with, making them irretrievable.
In a break from previous observe, OKX change confirmed it can finish all handbook burns. Additional, the change will undertake an computerized sensible contract burn mechanism as a substitute.
This completely fixes OKB’s complete provide at 21 million, mirroring Bitcoin’s shortage mannequin. As soon as the sensible contract improve is accomplished, each minting and handbook burning might be disabled.
Strategic X Layer Overhaul
The announcement was a part of a broader “PP Improve” to OKX’s X Layer, a public chain constructed with Polygon’s zkEVM expertise.
The improve boosts transaction throughput to five,000 TPS, slashes gasoline prices to negligible ranges, and enhances compatibility with Ethereum.
OKX outlined a transparent deal with DeFi, world funds, and real-world asset (RWA) tokenization, backed by ecosystem funds, liquidity incentives, and infrastructure upgrades comparable to improved cross-chain bridges and compliance providers.
Additional, OKX may even part out its OKTChain attributable to its overlap with the X Layer. Buying and selling in OKT will halt on August 13, 2025. The change mechanically converts OKT to OKB primarily based on the common closing costs between July 13 and August 12, 2025.
“OKTChain will totally shut down by January 1, 2026,” an excerpt within the announcement alluded.
However, OKB will stay the only real gasoline token for X Layer. The Ethereum Layer-1 (L1) model of OKB might be phased out in favor of the X Layer model.
OKX Rallies 163% Amid Constructive Market Response
Crypto dealer Henry hailed the burn, crediting OKX CEO Star Xu for the daring supply-cut choice. Excessive shortage, technological upgrades, and ecosystem growth ignited frenzied shopping for, pushing OKB into report territory.
“As anticipated of you, Star, Boss Xu, with a technical background, it looks like this transfer was in all probability your suggestion,” Henry remarked.
Following the announcement, OKB worth rallied 163% to determine a brand new ATH of $142.88. The explosive rally comes as token burns scale back provide, thereby bolstering demand.
The token retraced barely from its new peak, as merchants rushed to e book early earnings. Nonetheless, analysts be aware {that a} fastened 21 million cap mixed with rising utility in DeFi, funds, and RWA markets might present a robust basis for sustained worth momentum.
In the meantime, it’s value mentioning that such parabolic strikes usually invite volatility. Additionally, whether or not OKB can maintain onto its new valuation will rely on how shortly builders and customers undertake X Layer’s expanded capabilities.
With the X Layer improve now dwell and the biggest OKB burn in historical past full, OKX seems to be positioning its ecosystem as a significant participant in high-throughput, low-cost blockchain infrastructure.
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