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Dramatic Destruction of OKB Tokens Boosts Price By 130% and Hits All-Time High

Dramatic Increase in OKB Value: Token rises by 69% within an hour, reaching a new peak of $135 after a 65M token destruction, later experiencing a minor retreat.

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Dramatic Token Destruction Propels OKB by 130% to All-Time High
Dramatic Token Destruction Propels OKB by 130% to All-Time High

Dramatic Destruction of OKB Tokens Boosts Price By 130% and Hits All-Time High

In a groundbreaking move, OKX, the leading cryptocurrency exchange, has burned over 65 million OKB tokens, drastically reducing the total supply and creating a scarcity-driven value similar to Bitcoin's fixed supply model. This one-time burn event, which capped the circulating supply at 21 million tokens, has had a significant impact on the price of OKB.

Scarcity Model Alignment and Price Surge

By permanently removing such a large amount of tokens (valued around $7.3 billion), OKB now mirrors Bitcoin's scarcity mechanics, aiming to foster long-term value through limited token availability. This dramatic supply reduction triggered an immediate upward price pressure, resulting in a surge of 160% to 170%. The price increase has attracted both institutional and retail investors, with analysts projecting further price appreciation into early 2026, aiming for a range of $250–$300 per OKB based on improved fundamentals and ecosystem expansion.

Ecosystem Upgrades and Utility

Alongside the burn, OKX upgraded its "X Layer" blockchain to handle 5,000 transactions per second (TPS) and made OKB the exclusive gas token for this new layer. This enhancement increases utility and adoption potential within the OKX ecosystem, expanding OKB's role within DeFi. The burn and ecosystem restructuring, including consolidating OKT tokens into OKB, were part of a broader strategy to simplify and strengthen OKB’s tokenomics, making it the sole token for operations within the OKX network and supporting deflationary token economics.

Market Reaction and Future Outlook

The supply shock compressed available liquidity and caused a rapid revaluation of the token. The Balance of Power, a key indicator of market control, currently stands at 0.62, suggesting buyers have control. High readings of the Balance of Power often occur during periods of heavy accumulation. Trader Efloud, a well-known market analyst, is watching for a bullish structure on lower timeframes.

In summary, the burn significantly increased OKB's scarcity and utility, which combined to trigger a substantial price surge, positioning OKB as a more valuable and strategically important token within OKX’s growing crypto ecosystem.

Additional Upgrades and Changes

  • OKB continues to serve as the native gas token for X Layer.
  • Token holders are required to bridge their tokens to X Layer before L1 withdrawals are closed.
  • OKTChain will be retired, and OKT trading will end on August 13, 2025.
  • The upgrade, named PP, adds new Polygon CDK features to X Layer, improving Ethereum compatibility and expectedly dropping gas fees on X Layer.
  • The Ethereum L1 version of X Layer will be phased out.
  • High readings of the Balance of Power often occur during periods of heavy accumulation.
  • OKX burned more than 65 million OKB, reducing the total supply to 21 million.

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