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yesterday

OKB Hits Fresh Records as One-Time Burn and X Layer Shift Supercharge Rally

Volumes and open interest have climbed as roughly 90% of supply moves to X Layer, where OKB now serves as the chain’s gas token.

OKX's 90% supply burn sets OKB ablaze - Will price soar higher?
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OKB price
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Overview

  • The exchange token jumped to new highs above $240 this week, with 24‑hour spot volume topping roughly $7 billion during the surge.
  • OKX executed a single burn of 65.26 million OKB and fixed total supply at 21 million, a scarcity model likened to Bitcoin’s cap.
  • About 90% of OKB has migrated to the Polygon-based X Layer, which was upgraded to roughly 5,000 TPS with near‑zero fees and designates OKB as the sole gas token.
  • Derivatives participation swelled as open interest reached around $23 million and funding flipped positive, even as RSI readings in the 90s signaled overbought conditions and short‑term pullback risk.
  • OKX plans to retire the legacy OKTChain by January 2026, with OKT tokens set to be converted into OKB as part of the ecosystem consolidation.