Crypto exchange OKX completed a massive burn of its OKB tokens, effectively destroying $26 billion worth of the cryptocurrency on Friday. This burn is part of a strategic effort to reduce the total supply of OKB from 300 million to 21 million tokens, aligning it with Bitcoin's supply. Following this news, OKB saw a significant price surge, reaching an all-time high before stabilizing around $90.36. The burn and supply cut coincide with enhancements to OKX's Ethereum layer-2 network, X-Layer, which aims to improve transaction efficiency and lower costs. As a result of this restructuring, OKB has become one of the top-performing tokens, nearing 100% gains over the past week. The firm is also discontinuing its OKT Chain and transitioning those tokens to OKB, indicating a comprehensive shift in its operational focus toward DeFi and real-world asset tokenization.

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