In a significant strategic move, cryptocurrency exchange OKX announced that it has updated its X Layer platform and will permanently burn a total of 65,256,712.097 OKB from past buybacks and reserves. OKX's X Layer Strategic Update and 65.2 Million OKB Burn The company will also upgrade the OKB smart contract, removing the ability to mint new tokens and manually burn them. This will permanently cap the total supply of OKB at 21 million. As part of the update, OKTChain will be phased out. During this period, OKT tokens will be exchanged for OKB based on the average closing price between July 13 and August 12, 2025. OKX stated that this transition will simplify the ecosystem and strengthen the long-term supply stability of OKB. Following the announcement, the price of OKB briefly reached an all-time high of $134, but later fell to $129. Analysts believe that permanently limiting supply and removing OKTChain will reinforce OKB's deflationary nature. OKX's move aims to increase user confidence and make Layer X a more attractive blockchain infrastructure for institutional and individual investors. The supply reduction and network simplification are expected to positively impact OKB's price performance in the long term. *This is not investment advice. Continue Reading: Bitcoin Exchange OKX Announces Radical Decision for Its Native Token! Here Are the Details
