TLDR
- OKB price skyrocketed approximately 170% after OKX announced burning over 65 million tokens
- Total OKB supply will be fixed at 21 million tokens following the burn
- OKTChain will be retired with automatic conversion of OKT to OKB on August 15, 2025
- X Layer upgrade will boost throughput to 5,000 TPS and cut gas fees to near-zero
- OKB experienced a separate 45% surge on August 9, 2025, reaching $67.9
OKB, the native token of cryptocurrency exchange OKX, has experienced dramatic price movements in recent days. The token’s price surged approximately 170% within a single hour after the platform announced major tokenomics changes and a substantial token burn.
According to CoinGecko data, OKB jumped from around $47 to $126 following the announcement. This pushed its 24-hour gain to 172%.
The price surge came after OKX revealed plans to burn more than 65 million OKB tokens. This one-time burn will reduce the total supply, which will then be fixed at 21 million tokens.
This wasn’t the only recent price action for OKB. On August 9, 2025, the token climbed above $65 and surged by 45% within just 30 minutes. At its peak during this earlier spike, OKB traded at $67.9.
The recent movement reflects growing interest in exchange tokens generally and specifically OKB as OKX implements several major changes to its ecosystem.
X Layer Upgrade
A key component of OKX’s announcement involves a comprehensive upgrade to X Layer, its zkEVM-based public blockchain built with Polygon technology.
The upgrade, called the PP upgrade, integrates the latest Polygon CDK technology. This will boost the network’s throughput to 5,000 transactions per second and reduce gas fees to near-zero levels.
The improved X Layer will also offer better Ethereum compatibility for developers. OKX plans to integrate X Layer across its wallet, exchange, and payment platforms, which will enable features like gasless withdrawals.
These technical improvements aim to enhance the user experience while making OKB more central to the OKX ecosystem.
OKTChain Retirement
As part of its ecosystem overhaul, OKX will retire OKTChain due to overlapping functionality with other parts of its platform.
OKT trading will cease on August 13, 2025. This will be followed by an automatic conversion to OKB on August 15, based on a predetermined average price.
The OKTChain will remain operational until January 1, 2026. This extended timeframe allows users to deposit any remaining tokens for conversion.
Users holding OKT will receive OKB via this automatic conversion process, which should be seamless for most holders.
The consolidation of tokens should reduce confusion in the ecosystem and focus resources on a single token.
OKX is also changing OKB tokenomics by maintaining it as X Layer’s exclusive gas and native token. The company plans to phase out the Ethereum L1 version of OKB.
Users will need to bridge their tokens to X Layer through OKX, after which L1 withdrawals will be disabled.
The upgrade includes plans for an ecosystem fund, liquidity incentives, and enhanced infrastructure. This will include upgraded bridges, oracles, and compliance tools.
The most recent price spike follows heightened volatility in the broader cryptocurrency market. On the same day as OKB’s earlier surge, the Solana-based meme coin Troll saw a 37.5% increase over a 24-hour period.
OKB’s rapid ascent likely resulted from a combination of retail enthusiasm, strategic trading activity, and optimism about market recovery.
Despite the impressive gains, such sharp price movements often prove temporary. OKB remains sensitive to macroeconomic factors and broader market sentiment.
The token has seen increased attention in recent months due to Bybit’s expanding product suite and growing global user base.
Trading activity around OKX’s native token will likely remain high as these changes roll out through August 2025.
OKT trading will cease on August 13, followed by the automatic conversion to OKB two days later.
