OKX Exchange’s OKB Token Pumps 180% Ahead of Major Burning Program

OKB, the native token of the crypto exchange OKX, has pumped by 180% within an hour of the platform announcing a major token burn and other radical developments on August 13. At the time of writing, OKB was trading near $120 which rose as high as $137.34 from the daily low of $46.76–as per CoinMarketCap data.

In a latest X post, OKX revealed that it is making a strategic upgrade onto the X Layer, a ZK-powered layer 2 network connecting OKX and Ethereum. This move aims to build a leading public blockchain focused on DeFi, payments, and asset tokenization (RWA). 

Within this upgrade, X Layer will undergo various changes such as core-tech updates, launch of an ecosystem development strategy, and on a major note, sunsetting of OKTChain, and swapping of all OKT tokens to OKB tokens. This new shift will put OKB at the center of the OKX ecosystem, which will be used for transaction gas and other economic activities.