Ethereum News Today: "OKB's Move to X Layer Signals Industry Shift From Ethereum"

Bitrue, one of the prominent cryptocurrency exchanges, has announced the temporary suspension of deposits and withdrawals for the $OKB token as it shifts to the X Layer Mainnet. The migration, which commenced on August 29, 2025, marks a pivotal phase in the evolution of the $OKB utility token and its ecosystem. During this transition, Bitrue will no longer support the ERC20 chain for $OKB, effectively ending an era of Ethereum-based operations for the token. The move aligns with a broader trend in the blockchain industry, where major projects are transitioning away from Ethereum to more scalable and cost-effective blockchains [1].

OKB is a utility token central to the OKEx ecosystem, one of the world's largest trading platforms. It offers various benefits to holders, including a 40 percent discount on transaction fees and access to exclusive features and offers on OKEx. As of mid-August 2025, the token was trading at approximately $166.31, with a 24-hour trading volume of around $283 million, underscoring its liquidity and market presence. This migration builds on previous successful transitions, such as TRON's shift to its mainnet in 2018, which improved network performance and reduced reliance on the Ethereum blockchain [1].

The migration process involves halting all $OKB transfers on Bitrue temporarily, which may disrupt users' ability to trade or access liquidity during the transition period. Once the migration is complete, token holders will be required to exchange their ERC20-based $OKB for X Layer Mainnet $OKB in a 1:1 ratio. Bitrue has urged users to monitor its official announcements to stay informed about the migration schedule and swap procedures to avoid losing access to their tokens after the expiration of ERC20 support [1].

This shift reflects a growing industry trend where major exchanges and blockchain projects are prioritizing the development of their own mainnets to enhance scalability, security, and control. For instance, Binance transitioned to its own blockchain, Binance Chain, to optimize BNB transactions, while TRON and others have done the same to minimize dependence on Ethereum. These migrations not only improve network efficiency but also open the door for new functionalities such as staking and governance, contributing to the long-term sustainability of token ecosystems [1].

While the short-term disruption could pose challenges for users, the long-term benefits of the X Layer Mainnet could be significant. The network promises faster transaction speeds, lower fees, and the potential for innovative applications that could drive increased usage and value retention. Additionally, ongoing quarterly token burns are expected to help maintain the token's value and support its bullish trajectory, provided the network meets its performance claims [1]. As the migration progresses, users are encouraged to stay updated on developments from both Bitrue and OKEx to navigate the transition smoothly.

Source:

[1] Bitrue OKB Mainnet Migration - X Layer, ERC20 Support Ends (https://coinfomania.com/bitrue-okb-mainnet-migration-x-layer-erc20-support-ends/)