Substantial Token Incineration Propels OKB to Soar 130% to Unprecedented ATH

OKB reached a new all-time high of $135 due to a significant triple-digit surge, largely occurring over the last 24 hours. This came following OKX's decision to burn 65 million OKB in a single event, reducing the overall supply to 21 million and fuelling a rapid price increase.

Additionally, an upgrade to X Layer, OKX's zkEVM blockchain developed with Polygon, was announced. This upgrade, known as the PP upgrade, introduces new Polygon CDK features and is set to enhance Ethereum compatibility, decrease gas fees, and increase throughput to 5,000 TPS. Despite retracing from its peak, OKB remains well above $100, a 132% daily increase.