OKX has executed the burning of $26 billion worth of its OKB tokens on Ethereum, significantly decreasing its total supply from 300 million to just 21 million, mirroring Bitcoin's supply limit. This decision is part of a broader strategic restructuring aimed at enhancing the token's value and connecting the underlying blockchain to its Ethereum layer-2 network, X-Layer. Following the news, OKB saw a surge, reaching all-time highs and a substantial weekly gain, solidifying its place among the top performers in the crypto market. The token serves as the gas currency for the X-Layer, with upcoming upgrades planned to eliminate minting and burning functions. This manipulation of supply reflects a fundamental shift at OKX to focus more heavily on the potential of its DeFi capabilities and innovations in blockchain technology, as well as a significant strategic pivot in their operational expansion.

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