The cryptocurrency OKB surged by 200% following the announcement from the cryptocurrency exchange OKX regarding significant changes to its products and tokenomics. In a short period, the coin’s price reached an all-time high of $142.2, but later retraced to $105.
This is reported by Finway
Key Updates from OKX and Their Impact on OKB
On August 13, 2025, OKX announced the completion of a major update to the X Layer blockchain network, as well as the closure of the OKTChain project and significant changes to OKB’s tokenomics. As part of these decisions, the platform burned 65.2 million OKB tokens from its reserves, resulting in a substantial reduction of the total supply of the coin. It now stands at 21 million tokens, with the value of the burned assets estimated at $6.8 billion at current rates. This has become one of the largest one-time burns in the crypto industry.
“OKX stated its intention to make X Layer the leading public network focused on DeFi and tokenized real-world assets (RWA). As part of this strategy, the PP Upgrade was deployed.”
New Technical Capabilities and the Closure of OKTChain
The updated X Layer now supports a throughput of up to 5000 transactions per second (TPS), reduces fees, and simplifies operations for developers. A central feature of the update is the integration of the latest version of Polygon CDK, which opens up additional opportunities for interaction with DeFi and tokenized assets.
At the same time, OKX announced the gradual closure of OKTChain. By January 1, 2026, the network will operate in normal mode, but trading of the OKT token will cease as of August 13, 2025. From August 15, all OKT tokens will be automatically converted to OKB at the average closing price. The new X Layer will be deeply integrated with the exchange’s services, including the OKX wallet.
The exchange has also blocked the withdrawal of OKB to the first layer of Ethereum and announced a smart contract update to eliminate the possibility of additional issuance or burning of tokens in the future.
These decisions have acted as a catalyst for the price increase of OKB, which peaked above $140, confirming investor confidence in OKX’s new strategy.
It was previously reported that OKX is considering the possibility of an initial public offering (IPO) in the United States.