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- OKB jumped 158% after OKX burned over 65 million tokens, fixing the total supply at 21 million.
- The token rallies despite a wider market slump, as the X Layer upgrade boosts demand.
Market data shows that OKB has risen sharply at a time when most digital assets are struggling. The token has gained more than 158% in recent weeks, raising debate over whether the surge is mainly driven by the recent token burn and supply changes announced by OKX.
OKB Token Burn and Fixed Supply
In our last update, we covered that OKB jumped 178% after OKX announced a 65 million token burn. Notably, the sudden strength of OKB is tied to the decision by OKX to overhaul its blockchain network and token model.
In a new official statement, the exchange confirmed it has burned more than 65 million OKB from treasury reserves and past buybacks. This move set the supply of the token permanently at 21 million. Investors are now treating the asset as a scarce resource, which has added to the buying pressure.
The upgrade also comes with a shift in the company’s focus. As we reported last week, OKX is winding down OKTChain and moving activity to its new X Layer network, built with Polygon technology. On this network, OKB is the only gas token. The exchange also ended support for Ethereum withdrawals of OKB, asking holders to move their coins through X Layer instead.
This supply cut and change in function have coincided with a strong price jump. OKB was last trading at $227.44, up 18% in the past 24 hours alone. The token’s market value now sits at $4.74 billion with daily trading volume above $1.89 billion.
It is important to add that while other top coins, such as Bitcoin and Ethereum, have fallen, OKB has held up, becoming one of the few bright spots in a bearish market.
Similarly, outside the current upgrade, as noted in our previous article, OKX is also preparing for a U.S. IPO as it works on regulatory compliance and market reentry. This step has further lifted investor confidence in its native token, OKB.
Market Reaction and Next Steps
It is worth stating that the price increase has brought attention, but also raised questions about the asset. For example, analysts say the burn clearly boosted confidence, but the lasting value of OKB will depend on how the new network develops.
OKX has promoted X Layer as a hub for decentralized finance, global payments, and tokenized assets. If these projects gain real use, it could support demand for OKB beyond the short-term rush.
Similarly, investors are also cautious about the pace of the rise. Big gains often invite quick corrections, especially when they happen during a broader downturn. For now, however, OKB is standing out.
More importantly, with supply fixed and its role inside the OKX ecosystem set, the token has momentum that other assets lack. The coming months will show if the rally has real staying power or if it fades once the burn effect settles.
