OKB is coming into the spotlight of the cryptocurrency market. After a series of historic moves by the OKX exchange, including a massive token burn and migration to the new X Layer blockchain, it has transformed into one of the most prominent deflationary assets today, according to a report by CoinMarketCap.

OKB token and historic burn

OKB reached a significant milestone when the OKX exchange burned 65 million tokens, reducing its total supply and setting a strict cap at 21 million. This move likens the token to scarcity models seen in Bitcoin, enhancing its long-term investment appeal. OKX CEO Jay Hao described this step as permanently positioning OKB among the most valuable scarce assets on the market.

OKX announced a strategic upgrade to X Layer and will permanently burn 65,256,712.097 OKB from historical buybacks and reserves. The OKB smart contract will be upgraded to remove minting and manual burns, fixing total supply at 21 million. OKTChain will be phased out, with OKT… pic.twitter.com/HM4dcXLcdU

— Wu Blockchain (@WuBlockchain) August 13, 2025

Following the burn announcement, OKB’s price surged immediately by 160–170%, with trading volumes reaching billions of dollars. This sharp increase indicates high interest from both retail and institutional investors. Analysts also note similarities with historical events like Binance Coin burns and Bitcoin halvings, which led to long-term growth.

According to TradingView, OKB’s price rose by 460% in 9 days, becoming the most profitable cryptocurrency in the top 100 rankings. This growth underscores the strength of the deflationary model and the successful migration to the X Layer blockchain, which enhances its usability and demand among investors.

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Migrating to X Layer

A key change for the token is the migration to the native X Layer blockchain. Over 90% of OKB’s supply has already moved to the new ecosystem, which reportedly handles around 5,000 transactions per second, offers near-zero fees, and is compatible with Ethereum, according to another report by CoinMarketCap.

OKB thus becomes the sole fuel for X Layer, meaning that every increase in activity on the chain directly boosts demand for the token. OKX also announced the retirement of the old OKTChain network by January 2026, with OKT tokens being converted to OKB. This strategy further centralizes OKB’s significance within the exchange’s entire infrastructure. New incentives for DeFi and real-asset projects also strengthen OKB’s position as a cornerstone of the ecosystem. These steps are expected to drive not only long-term value growth but also broader practical adoption of the token.