Overview

• About 90% of the token supply has moved to OKX’s Polygon-based X Layer, with OKTChain slated for retirement by January 2026 and OKT set to convert to OKB.
• OKX disclosed a single burn of roughly 65.26 million OKB, removing reserves to hard-cap the supply at 21 million tokens.
• OKB set a new all-time high near $197–$200 after a single-day rally exceeding 50%, extending a multi-session breakout.
• Liquidity and leverage surged, with $7.15 billion in 24-hour spot volume, futures volume up 356% to $180 million, and open interest up 239% to $15.9 million, according to Coinglass.
• Risk signals intensified as technical gauges turned overbought and the eight-hour funding rate dipped to -0.011%, flagging higher odds of a sharp pullback.