The surge of OKB reflects the expectations of cryptocurrency market investors for the subsequent developments of X Layer and the optimistic sentiment surrounding OKX's listing in the United States. In this rapidly evolving market, the story of OKB may just be the prelude to a larger wave. (Background: Quick News) The OKX platform token OKB soared to $134, with a short-term increase of over 160%. (Additional Background: Reports of OKX 'going public in the US' sent OKB surging by 13%) On August 22, OKB continued to set new historical highs, reaching a price of $258.6, with a 24-hour increase exceeding 30%. It achieved three consecutive daily gains on the chart, rising more than five times from a bottom of $50 in just 10 days, and even surpassed BTC and ETH in 24-hour spot trading volume at one point. As of now, OKB has a market capitalization of $5.094 billion, ranking 27th. Notably, after the price surge yesterday, OKB's price on the Ethereum chain had a 42% premium compared to the OKX platform at one point. The announcement on August 13 to burn 52% of the circulating supply and fix the total supply limit at 21 million coins completely changed OKB's trajectory. OKX announced the largest token burn in history: burning 65,256,700 OKB, equivalent to 52% of the circulating supply, and permanently fixing the total supply at 21 million coins. This move directly pushed OKB's scarcity to the extreme, similar to Bitcoin's design of a 21 million coin limit. Users holding the Ethereum version of OKB need to deposit their assets into OKX and complete the chain swap by 'withdrawing to X Layer'. Meanwhile, OKTChain will be phased out, ending trading on OKX from August 13, 2025, at 14:10 (UTC+8), and will regularly exchange OKT for an equivalent amount of OKB based on the average closing price from July 13 to August 12, 2025. The chain-based OKT exchange will be supported until January 1, 2026. After the burn, OKB's price skyrocketed by 183% within 24 hours, rising from about $50 to over $140. On August 21, OKB broke through the $200 mark, reaching a historical peak of $239.91; the next day (August 22) it continued to rise, with its market capitalization approaching $4 billion. This series of new highs not only reset OKB's own records but also drove short-term rebounds in other exchange tokens like BNB. In the face of the crazy price increase, OKX CEO Star even personally took to social media to remind everyone: trading involves risks, and investment should be cautious to avoid blindly following trends. The cryptocurrency exchange OKX was founded by Star Xu. Currently, OKX's ecosystem includes a Web3 wallet, Layer 2 network X Layer, and a series of DeFi and GameFi applications, which provide solid value support for its token OKB. OKB was originally issued as the platform token for OKX in 2018, with an initial total supply of 300 million coins. It serves not only as a tool for trading fee discounts on the exchange but also for ecosystem governance, staking rewards, and cross-chain bridging. After OKX launched the L2 network in collaboration with Polygon in 2023, OKB became the native currency on-chain. According to historical data from OKX, OKB was limited by early market fluctuations and regulatory uncertainties, with a lowest price of only $0.57 in 2019. With the arrival of the cryptocurrency bull market, OKB once climbed to $44 in 2021, but the bear market in 2022 pulled it down to below $10. Entering 2025, OKB fluctuated around $50 until the announcement of the burn triggered its journey of flight. Going public in the US This June, news broke that OKX plans to go public in the US next year. From a financial perspective, the IPO will provide OKX with substantial capital for technology upgrades, marketing, and global expansion. After a successful listing, OKX could optimize its balance sheet through equity financing and enhance the valuation of its parent company, which is crucial for attracting institutional investors. Additionally, the listing will bring legitimacy to its platform token OKB, potentially driving its price further up. However, viewing the IPO merely as a financial maneuver may underestimate its strategic intent. OKX's return to the US market and consideration of an IPO is more about its long-term plan to enter the US market. The US is the largest cryptocurrency market globally, with a vast user base and institutional capital. Through the listing, OKX can not only enhance brand awareness but also compete directly with rivals like Coinbase and Kraken. The latter two have been intensifying their layouts on their L2s. Coinbase's launched L2 has become one of the most active Layer 2 networks, while Kraken is also rapidly launching its superchain ink. The root of this lies in the thinking of transitioning from centralized to decentralized. First is the diversification of income and profit models. Traditional CEX relies on trading fees, but L2 provides new sources of income. Coinbase, as the sole sequencer for Base, can capture trading fees significantly increasing revenue. L2 helps exchanges shift from custody fees and stablecoin interest to on-chain fees and NFT minting (for example, Coinbase's Onchain Summer event generated $500 million in assets), addressing the volatility of the bear market. Coinbase's latest financial report shows that due to a sharp drop in DA costs and a surge in user numbers, after excluding $634,000 in DA costs, Base network's gross profit for March reached twice that of Arbitrum's entire first quarter gross profit. Secondly, it is about strengthening ecosystem building, guiding users from centralized platforms to self-custody and DeFi, expanding market reach, and attracting developers to build dApps, forming a closed-loop ecosystem. By lowering the threshold through L2 (such as zero gas fee experience), it accelerates crypto adoption, especially in the US regulatory environment, providing a compliant path to avoid SEC crackdowns. In August this year, OKX made significant upgrades to its Layer 2 network X Layer, integrating Polygon's Chain Development Kit (CDK), increasing transaction speed to 5000 TPS (transactions per second), and achieving near-zero gas fees. This upgrade has made X Layer an efficient Web3 infrastructure, attracting more DeFi projects and developers. OKB, as the fuel token for the network, directly benefits from ecosystem expansion. As of now, according to official information from X Layer, it has over 2.18 million total addresses, with 47,000 new ones added in the last 24 hours. The number of addresses holding OKB exceeds 786,000, with 3,387 new ones added in the last 24 hours. Its ecosystem includes launchpad DYORSWAP, and its on-chain meme coin XDOG once had a market cap that broke ten million dollars. Overall, the surge of OKB reflects the expectations of cryptocurrency market investors for the subsequent developments of X Layer and...

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