Ethereum News Today: OKB Soars 178% After 65 Million Token Burn and X Layer Upgrade

Generated by AI AgentCoin World
Wednesday, Aug 13, 2025 12:28 pm ET1min read
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Aime RobotAime Summary

- OKB surged 178% after OKX burned 65M tokens, reducing supply to 21M and boosting scarcity.

- X Layer blockchain upgrade enabled 5,000 TPS, lower fees, and Ethereum compatibility, while retiring OKTChain.

- OKB will exclusively power X Layer post-August 2025, with OKT automatically converted and Ethereum-based OKB locked.

- OKX plans growth funds and regulatory expansion in Germany/Poland, but analysts caution long-term success depends on innovation and market conditions.

OKB, the native token of crypto exchange OKX, experienced a 178% surge in recent trading sessions, according to market data [1]. The price rally followed a large-scale token burn in which 65 million OKB tokens were permanently removed from circulation, reducing the total supply to a fixed 21 million. This move, aimed at enhancing token scarcity, was a key driver behind the significant price movement [1].

The burn was accompanied by a major upgrade to OKX’s public blockchain, X Layer. The PP upgrade introduced transaction speeds of up to 5,000 per second and significantly reduced gas fees, with

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compatibility improvements supporting easier development [1]. The exchange also announced the retirement of OKTChain, citing overlapping functions with X Layer, and will stop trading OKT by August 13, 2025, with automatic conversion to OKB beginning on August 15 [1].

OKB will become the sole gas and native token for X Layer, with Ethereum-based OKB being phased out and moved to the X Layer network through OKX. Holders will no longer be able to transfer OKB back to Ethereum after the transition [1]. The exchange also plans to establish a fund to support network growth and incentivize trading activity, along with enhancing critical systems like asset bridges and price tools [1].

Industry observers note that while the token burn contributed to the rally, other factors such as OKX’s broader network improvements, expanding regulatory compliance efforts, and strategic developments—including a fully regulated exchange in Germany and Poland—also played a role in boosting investor confidence [1]. Analysts emphasize that OKB’s performance reflects a combination of supply adjustments, ecosystem utility, and the platform’s growing influence in the crypto market [1].

Despite the strong price action, analysts advise caution. Token burns can create short-term optimism, but long-term success hinges on sustained platform innovation, regulatory clarity, and market conditions. The future of OKB will likely depend on OKX’s ability to maintain and expand the utility and adoption of its native token within the evolving crypto landscape [1].

Source: [1] Latest Crypto News, press releases:

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