OKX has burned $26 billion worth of its OKB tokens on Ethereum, significantly slashing the total supply from 300 million to just 21 million. This drastic reduction aligns OKB's supply structure with Bitcoin's finite model. The burn involved 279 million OKB tokens and was part of a strategic economic upgrade intended to underscore the token's utility. Following the news, the price of OKB surged, briefly reaching an all-time high of $135.12 before stabilizing around $90.36. OKB functions as the gas token for OKX's Ethereum layer-2 network, X-Layer, which is set to undergo further upgrades. In conjunction with the token burn, OKX is refocusing its efforts on X-Layer, discontinuing its OKT Chain and integrating development kits to enhance transaction efficiency. This pivotal move marks an important step for OKX as it aims to boost its market position, particularly in the DeFi sector.

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