Crypto markets lit up as OKX made a sweeping move to reshape its blockchain ecosystem. The exchange confirmed a permanent burn of more than 65 million OKB, fixing total supply at 21 million.
OKTChain will be shut down, with holders receiving OKB through a set exchange rate.
The decision comes alongside a strategic upgrade to X Layer, promising faster transactions and lower costs. Investors responded swiftly, sending OKB to record highs before settling slightly lower.
According to OKX’s official update, the burn removed 65,256,712.097 OKB from historical buybacks and reserves.
The exchange also announced the removal of minting and manual burns from the token’s smart contract. This move effectively caps supply at 21 million, aligning with scarcity-driven models seen in other major cryptocurrencies.
OKX announced a strategic upgrade to X Layer and will permanently burn 65,256,712.097 OKB from historical buybacks and reserves. The OKB smart contract will be upgraded to remove minting and manual burns, fixing total supply at 21 million. OKTChain will be phased out, with OKT… pic.twitter.com/HM4dcXLcdU
— Wu Blockchain (@WuBlockchain) August 13, 2025
OKTChain, which overlapped in functionality with X Layer, will be phased out in the coming months. Trading of OKT on OKX stopped on August 13, with conversions to OKB based on the July 13–August 12 average price. On-chain OKT holders can still deposit their tokens until January 1, 2026, for automatic conversion.
Wu Blockchain reported that OKB briefly surged to $134 after the announcement before settling around $129. Other market trackers, including CoinGecko, recorded a 159% 24-hour jump, placing the token’s weekly gain at more than 165% at press time.
The tokenomics change came alongside technical improvements to OKX’s X Layer public chain. Integrated with the latest Polygon CDK, the upgrade increases throughput to 5,000 transactions per second.
Gas fees were also slashed to negligible levels, improving usability for both developers and end-users.
OKX confirmed plans to focus X Layer’s ecosystem on DeFi, global payments, and real-world asset issuance. Infrastructure updates include enhanced cross-chain bridges, better oracle support, and integrated compliance tools. The exchange also launched ecosystem funds and liquidity incentives to attract developers.
Deep integration with OKX Wallet, OKX Exchange, and OKX Pay is also part of the rollout. Features like gasless withdrawals for USDT and other major assets aim to streamline adoption. X Layer will now serve as the default public chain for OKX Pay transactions.
The historic supply cut has drawn strong interest from traders and long-term holders. The price reaction suggests the market is factoring in both the reduced circulating supply and the utility expansion of X Layer.
Some analysts on social media, including Wise Advice, called it a landmark shift for OKB’s future position in the market. While the token has cooled slightly from its peak, the structural changes could set a new baseline for trading volumes.
𝗕𝗜𝗚 𝗠𝗢𝗩𝗘 from 𝗢𝗞𝗫
• 65.25M OKB permanently burned
• OKB supply fixed at 21M minting & manual burns removed
• OKTChain phased out → OKT swapped for OKB
• Price reaction: ATH $218, almost 5x from the daily low on MEXS
• A landmark shift in OKB’s tokenomics and… pic.twitter.com/6diqisHa06— Wise Advice (@wiseadvicesumit) August 13, 2025
The supply lock, coupled with technical advancements, places OKB in a new competitive bracket among exchange-backed tokens. However, future performance will likely depend on adoption rates for X Layer and sustained demand for OKB’s utility in the network.
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