The cryptocurrency exchange OKX has announced significant changes to its ecosystem, leading to a sharp increase in the value of the OKB token. Following news of the X Layer upgrade, the closure of OKTChain, and adjustments to the tokenomics, the price of OKB surged by 200%, reaching a new all-time high of $142.2. Subsequently, the quotes returned to $105.
This is reported by Business • Media
X Layer Upgrade and Changes to OKB Tokenomics
On August 13, 2025, OKX completed a significant upgrade of the X Layer network, which improved the throughput to 5,000 transactions per second, reduced fees, and simplified operations for developers. A central part of the changes was the integration of the updated version of Polygon CDK. According to exchange representatives, the X Layer is set to become the leading public network focused on DeFi projects and tokenized real-world assets (RWA).
“As part of our strategic development, we are upgrading the X Layer to make it the leading network for DeFi and tokenized real-world assets (RWA)”.
Alongside this, OKX announced the upcoming closure of OKTChain. The platform will continue to operate until January 1, 2026, but trading of the OKT token will end on August 13, 2025. Starting August 15, OKT tokens will be automatically converted to OKB at the average closing price.
Massive OKB Burn and Supply Fixation
One of the key pieces of news was the information about the burning of over 65.2 million OKB held in the exchange’s reserves. This has become one of the largest one-time burns in the crypto industry, as the current value of the destroyed tokens amounts to $6.8 billion. After this operation, the total supply of OKB is fixed at 21 million units. Additionally, OKX has blocked the ability to withdraw OKB to the first layer of Ethereum and announced an update to the smart contract to prevent the issuance of new tokens or additional token burns.
It was previously reported that OKX is considering the possibility of conducting an initial public offering (IPO) in the United States.