OKX’s recent token burn event has sent OKB soaring, with the cryptocurrency price increasing over 20% in a matter of hours. The exchange slashed its supply from 300 million tokens to just 21 million after permanently burning a significant amount of its native token. This drastic measure led to increased trading activity and attracted investor interest, ultimately pushing OKB past the $125 mark. The move highlights the potential for exchange tokens like OKB to mirror Bitcoin’s scarcity principles, raising questions about investor confidence and market dynamics. OKX, a renowned cryptocurrency exchange, has taken this drastic measure as a strategic maneuver. While founder and CEO Star Xu stayed silent on the matter, OKX issued an official statement: “We’re making history: 65,260,000 OKB permanently burned. Total supply capped at 21M. Join us as we shape the future of decentralized finance on #XLayer.” This unprecedented token burn triggered a significant spike in trading volume and attracted widespread attention within the cryptocurrency community. The event has sent ripples across the market, with some analysts observing potential implications for Layer-2 assets within the OKX ecosystem.