#ETHRally OKB, the native asset of the OKX cryptocurrency exchange, has surged nearly 160% after the platform announced a revision of its tokenomics and a large token burn.

The price of OKB skyrocketed from $45 to $135 following the announcement of a one-time burn of over 65 million tokens. After this, the total supply of the crypto asset will be fixed at 21 million.

The OKX team also announced that it will update its public X Layer network based on the Ethereum virtual machine with zero-knowledge proof (zkEVM), "to turn it into a leading public network focused on DeFi, payments, and real-world asset (RWA) applications."