OKX has completed a significant burn of 279 million OKB tokens on Ethereum, effectively reducing its total supply from 300 million to just 21 million, akin to Bitcoin's finite supply. This action, which involved tokens valued at nearly $26 billion, is part of an overarching economic upgrade for OKB. Following the announcement, the token's price surged over 100%, briefly hitting an all-time high of $135.12 before stabilizing around $90.36. Additionally, OKB serves as the gas token for OKX's Ethereum layer-2 network, X-Layer, which aims to improve DeFi capabilities. This strategic move marks a shift in focus for OKX as they plan to enhance X-Layer and retire the OKT Chain. With a new headquarters established in the U.S. and plans to go public, the company is positioning itself for growth as a leading player in the crypto space.

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