OKX Ignites X Layer Upgrade, Torches 65M OKB & Locks Supply at Bitcoin-Like 21M Cap

OKX just dropped a Molotov cocktail on its tokenomics—X Layer gets a turbocharged upgrade while 65 million OKB tokens go up in smoke.

Supply shock incoming: The exchange slammed the brakes at 21 million OKB, mirroring Bitcoin’s scarcity play. Cue the ‘digital gold’ comparisons.

Behind the burn: A deflationary power move that’d make a central banker blush—except here, the math actually adds up.

Closing thought: Wall Street still can’t decide if crypto’s a hedge or a hazard. Meanwhile, protocols keep building.

OKX announced a major upgrade to its X LAYER blockchain, boosting performance and focusing on DeFi and payments. As part of this, OKX permanently burned 65,256,712 OKB tokens from reserves and buybacks. The OKB smart contract was upgraded to remove minting and manual burns, fixing the total supply at 21 million. OKTChain will be phased out, with OKT tokens swapped for OKB at an average price from July 13 to August 12, 2025. Following the news, OKB briefly hit a $134 all-time high before settling near $129.