OKX Don Burn 65M OKB To 21M Cap, Dem Upgrades X Layer, 170% Rally
OKX don burn 65.26 million OKB permanently, dem cap di total supply for 21 million. Dis token burn comot coins for buyback reserves, create scarcity-driven model like Bitcoin. OKB jump pass 170% go above $139 before e settle near $129, with daily trading volume jump pass $842 million. As part of im tokenomics overhaul, OKX go retire OKTChain: OKT trading stop for August 13, and all OKT go auto-convert to OKB based on average July 13–August 12 closing price; swap go start August 15, plus smart contract upgrade on August 18 go disable minting and burn, with full phase-out by January 1. OKX also upgrade im X Layer blockchain via Polygon’s CDK, boost throughput to 5,000 TPS, slash gas fees near zero, and maintain Ethereum compatibility. Them improve DeFi support, cross-chain bridges, RWA tokenisation, plus tighter integration with OKX Wallet, Exchange, and Pay to push adoption. Market response don turn bullish, with OKB perform pass other CEX tokens like BNB (up 6%), UNI, and HYPE (double-digit gains), push OKB’s market cap to $6.5 billion. Even though fixed supply and X Layer upgrades support long-term demand, traders suppose keep eye on potential volatility and regulatory risks.
Bullish
Short-term, di one-time OKB token burn plus fixed supply announcement trigger sharp price rally and record trading volumes, show strong buying pressure and momentum. Di X Layer upgrade get higher throughput plus near zero gas fees wey improve network utility and fit attract more DeFi plus cross-chain activity. Long-term, capped OKB supply plus better blockchain infrastructure fit support steady demand and fit set higher price floor. Traders suppose still make dem cautious of increased volatility after such big rally and dey alert to regulatory developments wey dey affect centralized exchange tokens.