OKB Token Skyrockets After Massive Supply Burn
OKX just pulled off one of the biggest token burns in crypto history—and the market reacted instantly. The exchange wiped out 65.26 million OKB tokens from its reserves, slashing the total supply by more than half. That’s roughly $7.6 billion worth of tokens gone for good, reducing the max supply to 21 million, the same hard cap as Bitcoin.
The move sent OKB’s price into overdrive. It shot up to $142 from around $46 before settling back near $102. Trading volume exploded by 13,000%, hitting $723 million as traders scrambled to adjust. It’s one of those rare moments where a single decision flips the script entirely.
Why Burn Tokens at All?
Burning tokens—sending them to an inaccessible wallet—isn’t new. Binance does it regularly with BNB, often sparking short-term price jumps. But OKX’s burn was different: a one-time, massive cut instead of gradual reductions. The idea is simple—fewer tokens in circulation could mean higher demand for what’s left.
Whether that holds long-term is another question. The turnover ratio, which measures trading activity against supply, spiked from 0.03 to 0.093 after the announcement. That suggests a lot of speculative trading, not just organic demand.
What Comes Next for OKB?
The real test is whether OKX can keep momentum going. A lot hinges on X Layer, their blockchain where OKB is the native token. The exchange says it’s planning faster transactions and lower gas fees, which could help. They’re also phasing out Ethereum-based OKB tokens, letting users swap them for X Layer versions instead.
But exchange tokens live and die by utility. If OKB doesn’t find more uses beyond trading discounts and staking, the burn’s impact might fade. For now, though, it’s a bold move—one that’s got everyone watching.
