OKX Burns 65M OKB Tokens, Price Doubles to $142 Before Pullback

Andrew Chen
OKX

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  • OKX burned 65.26M OKB, fixing supply at 21M tokens.
  • Price hit $142.88 before a 25% pullback signaled cooling momentum.
  • Long-term value hinges on whether OKB can hold new support levels.

OKX has ignited a major market reaction by burning over 65 million OKB tokens, cutting its supply to a fixed 21 million and triggering a record-breaking price surge.

Massive Token Burn Reshapes OKB Supply

Earlier today, crypto exchange OKX announced one of the largest token burns in its history, permanently removing 65.26 million OKB from circulation. The burn fixes OKB’s total supply at 21 million tokens, positioning it as one of the most scarce major exchange assets.

This move came alongside a major upgrade to the X-Layer network, boosting its capacity to 5,000 transactions per second and lowering gas fees. The upgrade is part of OKX’s broader strategy to expand into decentralized finance (DeFi), payments, and real-world asset (RWA) integration.

Price Surge Shatters All-Time High

Following the announcement, OKB’s price skyrocketed, breaking through a 525-day descending resistance trend line. Within hours, the token hit a new all-time high of $142.88 — nearly double its previous peak of $73.

The rally was largely news-driven rather than part of a broader market trend, explaining the rapid parabolic movement. Technical indicators, such as the Relative Strength Index (RSI), also reached unprecedented levels, signaling intense buying pressure.

Also Read: OKX CEO Admits Compliance Flaws After $11K Account Freeze: “Not 100% Accurate”

Volatility Signals Possible Cooling Off

Despite the explosive rally, OKB has already experienced a 25% pullback from its peak, leaving a long upper wick on the weekly chart — a classic sign of cooling buyer momentum. While no bearish divergence has formed, traders are closely watching whether OKB can establish a stable new range or if the rally will retrace further.

OKX’s token burn has created a supply shock that could support long-term scarcity-driven value for OKB. However, the sharp volatility and rapid profit-taking highlight the risks of such sudden rallies. In the coming days, market sentiment will determine whether OKB consolidates near record highs or slips back into a lower trading range.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses

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