OKX announced the permanent burning of over 65 million OKB tokens and the phasing out of OKTChain. These actions triggered a significant price surge in the tokens.
Impact of OKB Supply Lock
OKX has permanently burned over 65 million OKB tokens, locking the total supply at 21 million tokens. This has created scarcity that triggered a price spike of over 160%, with the token rising to approximately $121.96 from below $50.
Closure of OKTChain and Token Exchange
OKX also announced a gradual shutdown of OKTChain. OKT holders can exchange their tokens for OKB based on the average closing price from July 13 to August 12, 2025, maintaining a fair exchange rate.
OKX's Global Efforts and Market Impact
OKX's successful steps, such as preparing for an IPO in the US and launching fully legal exchanges in Germany and Poland, have strengthened its market position. The company previously settled with the US Department of Justice, paving the way for compliant services. All these actions highlight OKX's global ambitions in the cryptocurrency sector.
OKX's strategy of locking supply and token burning, combined with its expansion efforts, is helping to solidify the value of the OKB token and its significance in the cryptocurrency world.
