OKB increases by 160% after the burning of 65 M tokens and a major update of X Layer
Wed 13 Aug 2025 ▪ 4 min read ▪ by Gijs O.
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Centralized Exchange (CEX)
OKB, the native token of OKX, has risen nearly 160% in a single day after the platform announced radical changes to its blockchain ecosystem and tokenomics, including a massive one-time token burn and a fixed maximum supply. The price of OKB jumped from around $45 to as high as $135 on Wednesday, following the news that OKX will permanently remove 65,256,712 OKB from circulation. The burn, which comes from historical buybacks and treasury reserves, will leave the total supply capped at 21 million tokens.
In summary
OKX has burned more than 65 million OKB tokens, setting the total supply at 21 million, triggering a 160% price increase in a single day.
The exchange upgraded its zkEVM chain powered by Polygon to 5,000 TPS, with near-zero gas fees and improved compatibility with Ethereum, focusing on DeFi, payments, and RWA applications.
OKX will gradually phase out OKTChain and OKB Ethereum L1, migrate to X Layer, and explore a possible IPO in the U.S. amid ongoing regulatory scrutiny in Asia.
X Layer receives a major update
Along with the review of the tokenomics, OKX announced a significant update to its public Ethereum Virtual Machine (zkEVM) powered by Polygon, X Layer. The "PP update," completed on August 5, incorporates the latest Polygon CDK technology, increasing transaction performance to 5,000 TPS, reducing gas fees to nearly zero, and enhancing compatibility with Ethereum for developers.