On August 22, OKX continued to refresh its historical high, with a value that once reached 258.6 USD, a 24-hour increase of over 30%, achieving three consecutive daily gains on the daily chart. From a low of 50 USD, it increased more than five times in just 10 days, and even at one point, the 24-hour spot trading volume surpassed BTC and ETH. As of now, the market capitalization of OKB is 5.094 billion USD, ranking 27th.
It is worth mentioning that after the price surge yesterday, the price of OKB on the Ethereum chain had a premium of up to 42% compared to the OKX platform.
Destroying 52% of the circulating supply, with a fixed cap of 21 million coins.
The announcement on August 13 completely changed the trajectory of OKB. OKX announced the largest token burn in history: burning 65.2567 million OKB, which is equivalent to 52% of the circulating supply, and permanently fixing the total supply at 21 million. This move directly pushed the scarcity of OKB to the extreme, similar to the design of Bitcoin's 21 million cap.
Users holding the Ethereum version of OKB need to deposit their assets to OKX and complete the chain swap through "Withdraw to X Layer". At the same time, OKTChain will be phased out, ceasing trading on OKX starting from August 13, 2025, at 14:10 (UTC+8), and OKT will be regularly exchanged for an equivalent amount of OKB at the average closing price from July 13 to August 12, 2025. On-chain OKT exchanges will be supported until January 1, 2026.
After the burn, the OKB price surged by 183% within 24 hours, skyrocketing from around $50 to over $140. On August 21, OKB broke the $200 mark, reaching an all-time high of $239.91; the next day (August 22), it continued to rise, with a market capitalization approaching $4 billion. This series of new highs not only refreshed OKB's own records but also led to a short-term rebound in other exchange tokens such as BNB.
In the face of skyrocketing prices, OKX CEO Star even personally took to the platform to remind everyone: trading carries risks, invest with caution, and avoid blindly following trends.
The cryptocurrency exchange OKX was founded by Star Xu. Currently, OKX's ecosystem includes a Web3 wallet, Layer 2 network X Layer, and a range of DeFi and GameFi applications, all of which provide solid value support for its token OKB.
OKB was originally issued as the platform token of OKX in 2018, with an initial total supply of 300 million tokens. It serves not only as a fee discount tool for the exchange but also for ecosystem governance, staking rewards, and cross-chain bridging. After OKX partnered with Polygon to launch the L2 network in 2023, OKB became the native currency on the chain.
According to historical data from OKX, OKB was limited by early market fluctuations and regulatory uncertainties, with a minimum price of only $0.57 in 2019. With the arrival of the crypto bull market, OKB once soared to $44 in 2021, but the bear market in 2022 pulled it down to below $10. Entering 2025, OKB oscillates around $50 repeatedly until the announcement of a favorable news regarding its burn begins its journey to take off.
Going public in the United States soon
In June this year, OKX was revealed to be planning an IPO in the United States next year.
From a financial perspective, the IPO will provide OKX with substantial capital for technology upgrades, marketing, and global expansion. After a successful listing, OKX can optimize its balance sheet through equity financing and enhance the valuation of its parent company, which is crucial for attracting institutional investors. Furthermore, the listing will also bring legitimacy to its platform token OKB, potentially driving its price further up.
However, viewing an IPO merely as a financial operation may underestimate its strategic intent. OKX's return to the U.S. market and consideration of an IPO is more about its long-term plan to penetrate the U.S. market. The U.S. is the largest cryptocurrency market in the world, with a huge user base and institutional capital. By going public, OKX can not only enhance brand awareness but also compete directly with rivals such as Coinbase and Kraken.
Both have intensified their layout on their L2. The L2 launched by Coinbase has become one of the most active second-layer networks, and Kraken is also rapidly launching the superchain ink.
The underlying reason is the transition from centralized to decentralized thinking.
First, it is about diversifying income and profit models. Traditional CEX relies on trading fees, but L2 provides new sources of income. Coinbase, as the sole sequencer of Base, can capture trading fees significantly increasing revenue. L2 helps exchanges shift from custody fees and stablecoin interest to on-chain fees and NFT minting (such as the $500 million assets generated by Coinbase's Onchain Summer event), addressing the volatility of the bear market. Coinbase's latest financial report shows that due to the sharp drop in DA costs and a surge in user numbers, after deducting $6.34 million in DA costs, the gross profit of the Base network in March reached twice that of Arbitrum's entire quarterly gross profit.
Secondly, it is to strengthen the construction of the ecosystem, guiding users from centralized platforms to self-custody and DeFi, expanding market reach, attracting developers to build dApps, and forming a closed-loop ecosystem. By reducing thresholds through L2 (such as zero gas fee experience), it accelerates crypto adoption, especially under the regulatory environment in the United States, providing a compliant path to avoid SEC crackdowns.
In August this year, OKX made a significant upgrade to its Layer 2 network X Layer, integrating Polygon's Chain Development Kit (CDK), increasing transaction speed to 5000 TPS (transactions per second), and achieving near-zero gas fees. This upgrade has made X Layer an efficient Web3 infrastructure, attracting more DeFi projects and developers. OKB, as the fuel token of the network, directly benefits from the ecosystem expansion.
As of now, according to official data from X Layer, the total number of addresses has exceeded 2.18 million, with 47,000 new addresses added in the last 24 hours. The number of addresses holding OKB exceeds 786,000, with 3,387 new addresses added in the last 24 hours. Its ecosystem includes launchpad DYORSWAP, and the market capitalization of its on-chain meme coin XDOG once surpassed ten million dollars.
Overall, the surge of OKB reflects the optimism of cryptocurrency market investors towards the future of X Layer and OKX's listing in the US. In this rapidly evolving market, the story of OKB may just be the prelude to a larger wave.
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OKB big pump 500% behind it, is it emotional carnival or value reassessment?
Written by: 1912212.eth, Foresight News
On August 22, OKX continued to refresh its historical high, with a value that once reached 258.6 USD, a 24-hour increase of over 30%, achieving three consecutive daily gains on the daily chart. From a low of 50 USD, it increased more than five times in just 10 days, and even at one point, the 24-hour spot trading volume surpassed BTC and ETH. As of now, the market capitalization of OKB is 5.094 billion USD, ranking 27th.
It is worth mentioning that after the price surge yesterday, the price of OKB on the Ethereum chain had a premium of up to 42% compared to the OKX platform.
Destroying 52% of the circulating supply, with a fixed cap of 21 million coins.
The announcement on August 13 completely changed the trajectory of OKB. OKX announced the largest token burn in history: burning 65.2567 million OKB, which is equivalent to 52% of the circulating supply, and permanently fixing the total supply at 21 million. This move directly pushed the scarcity of OKB to the extreme, similar to the design of Bitcoin's 21 million cap.
Users holding the Ethereum version of OKB need to deposit their assets to OKX and complete the chain swap through "Withdraw to X Layer". At the same time, OKTChain will be phased out, ceasing trading on OKX starting from August 13, 2025, at 14:10 (UTC+8), and OKT will be regularly exchanged for an equivalent amount of OKB at the average closing price from July 13 to August 12, 2025. On-chain OKT exchanges will be supported until January 1, 2026.
After the burn, the OKB price surged by 183% within 24 hours, skyrocketing from around $50 to over $140. On August 21, OKB broke the $200 mark, reaching an all-time high of $239.91; the next day (August 22), it continued to rise, with a market capitalization approaching $4 billion. This series of new highs not only refreshed OKB's own records but also led to a short-term rebound in other exchange tokens such as BNB.
In the face of skyrocketing prices, OKX CEO Star even personally took to the platform to remind everyone: trading carries risks, invest with caution, and avoid blindly following trends.
The cryptocurrency exchange OKX was founded by Star Xu. Currently, OKX's ecosystem includes a Web3 wallet, Layer 2 network X Layer, and a range of DeFi and GameFi applications, all of which provide solid value support for its token OKB.
OKB was originally issued as the platform token of OKX in 2018, with an initial total supply of 300 million tokens. It serves not only as a fee discount tool for the exchange but also for ecosystem governance, staking rewards, and cross-chain bridging. After OKX partnered with Polygon to launch the L2 network in 2023, OKB became the native currency on the chain.
According to historical data from OKX, OKB was limited by early market fluctuations and regulatory uncertainties, with a minimum price of only $0.57 in 2019. With the arrival of the crypto bull market, OKB once soared to $44 in 2021, but the bear market in 2022 pulled it down to below $10. Entering 2025, OKB oscillates around $50 repeatedly until the announcement of a favorable news regarding its burn begins its journey to take off.
Going public in the United States soon
In June this year, OKX was revealed to be planning an IPO in the United States next year.
From a financial perspective, the IPO will provide OKX with substantial capital for technology upgrades, marketing, and global expansion. After a successful listing, OKX can optimize its balance sheet through equity financing and enhance the valuation of its parent company, which is crucial for attracting institutional investors. Furthermore, the listing will also bring legitimacy to its platform token OKB, potentially driving its price further up.
However, viewing an IPO merely as a financial operation may underestimate its strategic intent. OKX's return to the U.S. market and consideration of an IPO is more about its long-term plan to penetrate the U.S. market. The U.S. is the largest cryptocurrency market in the world, with a huge user base and institutional capital. By going public, OKX can not only enhance brand awareness but also compete directly with rivals such as Coinbase and Kraken.
Both have intensified their layout on their L2. The L2 launched by Coinbase has become one of the most active second-layer networks, and Kraken is also rapidly launching the superchain ink.
The underlying reason is the transition from centralized to decentralized thinking.
First, it is about diversifying income and profit models. Traditional CEX relies on trading fees, but L2 provides new sources of income. Coinbase, as the sole sequencer of Base, can capture trading fees significantly increasing revenue. L2 helps exchanges shift from custody fees and stablecoin interest to on-chain fees and NFT minting (such as the $500 million assets generated by Coinbase's Onchain Summer event), addressing the volatility of the bear market. Coinbase's latest financial report shows that due to the sharp drop in DA costs and a surge in user numbers, after deducting $6.34 million in DA costs, the gross profit of the Base network in March reached twice that of Arbitrum's entire quarterly gross profit.
Secondly, it is to strengthen the construction of the ecosystem, guiding users from centralized platforms to self-custody and DeFi, expanding market reach, attracting developers to build dApps, and forming a closed-loop ecosystem. By reducing thresholds through L2 (such as zero gas fee experience), it accelerates crypto adoption, especially under the regulatory environment in the United States, providing a compliant path to avoid SEC crackdowns.
In August this year, OKX made a significant upgrade to its Layer 2 network X Layer, integrating Polygon's Chain Development Kit (CDK), increasing transaction speed to 5000 TPS (transactions per second), and achieving near-zero gas fees. This upgrade has made X Layer an efficient Web3 infrastructure, attracting more DeFi projects and developers. OKB, as the fuel token of the network, directly benefits from the ecosystem expansion.
As of now, according to official data from X Layer, the total number of addresses has exceeded 2.18 million, with 47,000 new addresses added in the last 24 hours. The number of addresses holding OKB exceeds 786,000, with 3,387 new addresses added in the last 24 hours. Its ecosystem includes launchpad DYORSWAP, and the market capitalization of its on-chain meme coin XDOG once surpassed ten million dollars.
Overall, the surge of OKB reflects the optimism of cryptocurrency market investors towards the future of X Layer and OKX's listing in the US. In this rapidly evolving market, the story of OKB may just be the prelude to a larger wave.