OKBSkyrockets, Reaches All-Time Peak with OKX Announcing Reduction in Circulating Supply
OKX Announces Large-Scale OKB Token Burn and X-Layer Upgrade
In a significant move for the cryptocurrency market, global cryptocurrency exchange OKX announced a supply burn of approximately 65 million OKB tokens on August 13–15, 2025. This burn, valued at roughly $7.3–7.6 billion at the time, aimed to create scarcity, reinforce OKB’s deflationary model, and align its tokenomics with Bitcoin-like fixed-supply assets, thereby boosting long-term value and investor confidence.
The burn was executed using historical token repurchases and treasury reserves, representing the largest supply cut ever by a centralized exchange. Alongside this, OKX completed a major upgrade to its blockchain ecosystem—the X Layer—powered by Polygon CDK technology. The X Layer upgrade increased throughput to 5,000 transactions per second, lowered gas fees to negligible levels, and enhanced Ethereum compatibility through a zkEVM-based public chain focused on DeFi, payments, and real-world asset applications.
Implications for price and use:
The supply reduction triggered a 160–170% surge in OKB’s price, with the token briefly jumping from about $45 to $135 immediately post-burn. Analysts forecast potential price targets of $250–$300 in early 2026, driven by reduced supply, enhanced utility from X Layer upgrades, and expanding OKX DeFi ecosystem involvement.
By fixing the circulating supply at 21 million, OKB is positioned as a scarcity-driven asset, increasing its appeal akin to Bitcoin or Binance Coin, which may lead to more sustained demand and trading volume. The X Layer upgrade is set to improve OKB’s functional use cases by powering a high-performance blockchain network with low fees and strong DeFi and real-world asset integration, potentially increasing on-chain activity and utility for OKB holders within the OKX ecosystem.
In addition to the burn and X Layer upgrade, OKX also announced the decommissioning of OKT Chain. As part of this, all OKT Chain tokens (OKT) in user accounts will be converted to OKB. After the burn, the total OKB supply will be fixed at 21 million tokens.
The surge in OKB price made it the biggest mover among the top 100 crypto assets by market cap over the last 24 hours. U.S. customers can now buy, sell, and trade leading crypto assets like Bitcoin and Ethereum via OKX's centralized exchange and OKX Wallet. OKX began a formal expansion in the United States in April, setting up a regional headquarters in San Jose, California.
With these changes, OKX aims to enhance the overall performance and utility of its ecosystem, positioning OKB as a key asset within the platform. The upgrade of X-Layer includes improvements such as reduced gas cost and increased throughput, positioning it as a leading network for DeFi, RWA tokenization, and payments. The OKB token reached a new all-time high mark of more than $103 on Wednesday. However, it is important to note that the OKB token supply matches the supply of Bitcoin but is far from its originally intended 300 million token supply.
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