OKB Token Soars 180% After Record Supply Burn and X Layer Upgrade

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• OKX burned 65M OKB worth $7.3B, cutting supply in half.
• X Layer upgrade strengthens OKB’s role as the backbone of OKX services.
• Price momentum points to a possible breakout above $200 toward $255.

OKB, the utility token of OKX, has taken center stage in the latest crypto rally. Solana’s $200 milestone made headlines, but OKB went further, surging 180% on the back of supply cuts, new upgrades, and rising market demand.

Massive $7.3 Billion Token Burn Sparks Supply Shock

On August 13, OKX executed one of the largest token burns in crypto history, permanently removing 65 million OKB—worth roughly $7.3 billion—from circulation. This reduced the token’s supply by more than half, creating immediate scarcity. Trading volume reacted instantly, jumping nearly 19,000% in just 24 hours.

Many analysts likened the event to Bitcoin’s fixed supply model, which has historically fueled long-term price growth. By drastically cutting supply, OKX effectively amplified demand for OKB, laying the foundation for its rapid price appreciation.

X Layer Upgrade Boosts Utility and Adoption

The rally wasn’t only about scarcity. OKX rolled out its “PP Upgrade” on X Layer, a Polygon-powered blockchain designed to process up to 5,000 transactions per second at near-zero cost. With all OKX services—including its wallet, exchange, and payment systems—migrating to X Layer, OKB has become the backbone of the ecosystem.

Additionally, OKX announced the retirement of its Cosmos-based OKTChain. Around 1.3 million OKT tokens will be swapped into OKB, creating new buying pressure and consolidating liquidity under a single chain. While the swap ratio could bring short-term volatility, analysts see the long-term impact as bullish.

Also Read: OKX Burns 279M OKB Tokens, Cuts Supply to 21M, Sparks Price Surge

Price Outlook: Can OKB Break $200?

At press time, OKB was trading near $195 after extending a 42% rally from the previous day. Bulls are now eyeing a push past the $200 milestone, a key resistance level. A strong breakout could pave the way for gains toward the $255 range.

Technical indicators reinforce the bullish case: the Money Flow Index sits at 73.58, the MACD shows strong momentum, and the RSI at 84 signals heavy demand—though it also warns of overbought conditions. A potential reversal from $199 could test support at $158 before resuming upward momentum.

With a record-breaking token burn, powerful X Layer upgrade, and growing institutional interest, OKB is entering a new growth phase. If bulls defend key support levels and demand remains strong, the token could soon cross the $200 barrier and potentially target $255. However, traders should remain cautious of short-term profit-taking amid overheated technicals.