134% Surge in 24 Hours

The clear winner in today’s crypto market is OKB, the native token of the OKX exchange. In just 24 hours, OKB has surged an astonishing 134%, trading at $107 at the time of writing.

The rally was triggered by a dramatic change in tokenomics announced by OKX. The exchange revealed plans for a one-time burn of roughly 65 million OKB, reducing the maximum possible circulating supply to 21 million tokens.

Historic Token Burn Scheduled

According to the company’s statement, the burn event is set for August 15. Blockchain tracker Lookonchain reported that the tokens earmarked for burning have already been transferred to the designated burn address.

“OKX has, in the past hour, moved 65.26 million OKB (worth $7.29 billion) into the buyback and burn wallet. The total supply is now fixed at 21 million tokens ($2.25 billion),” the announcement noted.

Market Reaction and Outlook

The supply reduction drastically increases scarcity, a factor that has historically driven price appreciation in crypto assets. Traders have responded swiftly, pushing OKB to levels not seen before this move.

OKX remains available to users across multiple regions, including Europe (such as Germany), the Asia–Pacific region, the Middle East & Africa, and Latin America. The exchange’s latest tokenomics shift could further solidify OKB’s role as a utility and value storage asset within its ecosystem.