OKX to burn 65 million of its tokens and cap supply at 21 million, triggering OKB price rally
Quick Take
- OKB, OKX’s native token, surged 170% following a tokenomics upgrade announcement.
- OKX said it plans to burn 65.26 million OKB tokens, with the total supply set to be adjusted to 21 million.
OKB, the native token of the OKX crypto exchange ecosystem, surged after the exchange announced a tokenomics upgrade.
As of 4:10 a.m., Wednesday ET, OKB surged by 170% today to reach $124.
The surge in OKB's prices follows OKX's Wednesday announcement of an overhaul of its tokenomics model. The exchange said that it will conduct a one-time burn of approximately 65.26 million OKB tokens accumulated through past buyback programs and held in company reserves. The total OKB supply will be fixed at 21 million after the operation is completed.
Also, as part of the update, OKX plans to upgrade the OKB smart contract to eliminate both minting capabilities and manual token burns.
The platform also plans to discontinue OKTChain, with existing OKT tokens being converted to OKB at an exchange rate determined by average closing prices between July 13 and Aug. 12, 2025. OKX said OKTChain will remain operational until Jan. 1, 2026.
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