OKX Burns 65M OKB and Upgrades X Layer in Major Overhaul
OKX upgrades X Layer, burns 65M OKB, and fixes total supply at 21M. OKTChain will be phased out in favor of OKB.
- OKX permanently burns 65M OKB and fixes supply at 21M
- OKTChain to be phased out with OKT swapped for OKB
- OKB briefly hits an all-time high of $134 after the announcement
Crypto exchange OKX has initiated a landmark shift by permanently burning 65,256,712.097 OKB tokens as part of its strategic upgrade to the X Layer ecosystem. This burn includes tokens from historical buybacks and reserves, and it marks a key moment in OKX’s long-term roadmap.
As part of the upgrade, OKX is also making critical changes to the OKB smart contract, removing the ability to mint new tokens or carry out manual burns. This move locks the total OKB supply at 21 million, aligning OKB with Bitcoin’s fixed-supply model and enhancing its scarcity and potential store-of-value appeal.
The market responded quickly to the announcement. OKB surged to a new all-time high of $134, before settling around $129 at the time of reporting.
OKTChain Sunset: OKT to Be Swapped for OKB
In another major development, OKX will phase out OKTChain, the network that currently uses the OKT token. Token holders will be able to swap their OKT for OKB, using the average closing price between July 13 and August 12, 2025 as the basis for conversion. This move signals OKX’s commitment to simplifying its ecosystem and focusing on a single, robust token model centered around OKB.
The swap mechanism, combined with the fixed supply and contract upgrade, is likely to increase confidence among long-term OKB holders and further consolidate the token’s utility within the OKX ecosystem.
What This Means for the Future of OKB
This strategic overhaul reflects OKX’s intention to position OKB as a deflationary, utility-rich asset. By burning over 65 million tokens and locking the total supply, OKX is making a clear bet on OKB’s long-term value and integrity.
With X Layer gaining traction as a key layer-2 scaling solution and the phasing out of OKTChain, OKX appears to be streamlining its architecture for better performance, simplicity, and market confidence.
Investors and ecosystem participants will be watching closely to see how these changes impact adoption and market sentiment in the months to come.
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