OKB, the native token of the crypto exchange OKX, surged nearly 160% after the platform announced a significant token burn of 65 million tokens, bringing the total supply to a fixed 21 million. The price peaked at $135 from a low of $45 following the announcement. Alongside the burn, OKX revealed upgrades to its X Layer, a public chain powered by Polygon, aiming to enhance its capabilities in DeFi, payment solutions, and real-world asset applications. The upgrade, known as the 'PP upgrade,' integrates Polygon's latest technology, significantly improving transaction throughput and reducing gas fees. As part of restructuring, the OKTChain will be phased out, and its trading will cease while users are urged to migrate their tokens to the new infrastructure. OKX is also working on expanding its ecosystem with developer incentives and capabilities. The company is navigating regulatory challenges, particularly in Asia, as it seeks to reinforce its presence in the U.S. finance market.

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