Crypto exchange OKX executed a significant burn of 279 million OKB tokens, valued at approximately $26 billion, on August 15, 2025. This move is part of an economic upgrade aimed at restructuring the token supply, reducing it from 300 million to 21 million—similar to Bitcoin's capped supply. Following the announcement, OKB's price surged, reaching an all-time high of $135.12 before settling at $90.36, marking it as the top gainer among the top 100 crypto tokens. The burn changes also remove minting and burning functionalities, with smart contract upgrades scheduled for August 18, 2025. Additionally, OKX is discontinuing its OKT Chain and automatically converting OKT tokens into OKB. The firm is refocusing on its Ethereum layer-2 network, X-Layer, to enhance DeFi, payments, and real-world asset tokenization, alongside expanding its presence in the U.S. market.

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