OKX Permanently Burns 65.256M OKB Tokens and Caps Supply at 21M

OKX, a major player in the cryptocurrency exchange space, has unveiled a major strategic update to its X Layer platform, marking a pivotal shift in how its native token, OKB, will be managed. The company announced that it will permanently burn 65,256,712.097 OKB tokens, representing a significant portion of previously bought-back and reserved tokens. This decision is part of a broader initiative to enhance the token’s scarcity and long-term value proposition [1].

Alongside the token burn, OKX is updating the OKB smart contract to remove the ability to mint new tokens or manually burn them. This change effectively caps the total supply of OKB at 21 million tokens, introducing a deflationary mechanism that mirrors the supply model of Bitcoin [1]. The move is designed to stabilize the token’s supply and reinforce its appeal to both institutional and retail investors.

As part of this strategic overhaul, OKX is also phasing out its OKTChain platform. During this transition period, OKT tokens will be converted into OKB based on the average closing price between July 13 and August 12, 2025. This transition is intended to streamline the company’s blockchain infrastructure and reduce complexity, with OKX stating that it will enhance the overall stability and usability of its ecosystem [1].

The market responded positively in the short term, with OKB’s price briefly reaching an all-time high of $134. However, it later corrected to $129. Analysts suggest that the permanent supply cap and the removal of OKTChain could reinforce OKB’s deflationary characteristics, potentially supporting long-term price appreciation [1].

OKX’s decision reflects a growing trend among crypto exchanges to implement supply-side controls as a strategy for building investor confidence. By limiting the token supply and simplifying its blockchain infrastructure, OKX is positioning OKB as a more attractive asset for those seeking long-term value and stability in a volatile market [1].

Source: [1] Bitcoin Exchange OKX Announces Radical Decision for Its Native Token! Here Are the Details (https://coinmarketcap.com/community/articles/689c6a2890b82240e2f7e596/)