OKX has just made a move in crypto that’s so bold, even Elon Musk might say, “Whoa, that’s a bit much.” The exchange has permanently *burned* around 279 million OKB tokens, worth a mind-blowing $26 billion at current value. Yep, they literally just removed that much money from circulation. Talk about a “whoopsie daisy” moment.
This burn, in case you missed it, is like OKX saying, “We’re done with that old token supply, let’s hit the reset button!” Their token strategy is officially going through a mid-life crisis, and we’re all just along for the ride.
And wait, there’s more! Earlier, OKX decided to throw out another 65.26 million OKB tokens they were holding onto for dear life-like a secret stash of Monopoly money. With this latest drama, they’ve cut OKB’s total supply down from a monstrous 300 million to just 21 million. Yeah, you heard that right: 21 million. It’s like they’re doing a reverse magic trick, making all that supply disappear forever. *Poof!*
Oh, but hold on-this isn’t just about burning stuff. They’re also pulling the plug on the OKB smart contract, eliminating minting and manual burns. No more accidentally printing money, OKX says. This is permanent now. Like a tattoo, but for tokens. The company claims this will strengthen their ecosystem and create that sweet, sweet “scarcity” vibe everyone loves in crypto.
Meanwhile, OKX is also pulling the plug on OKTChain. It’s not dead yet-like a car on life support-but it’s definitely on its way out by January 1, 2026. Earlier this week, OKX hit pause on OKT trading, canceled pending orders, and burned another $7.6 billion worth of tokens. It’s like they’re cleaning out their crypto attic, throwing away everything except for the good stuff.
Of course, this massive burn had everyone on the edge of their seats. OKB’s price did the crypto equivalent of a roller coaster-spiking from $46 to $142 before coming back down to reality at $96. And trading volume? Oh, just a tiny *13,000%* surge to $723 million. No big deal. It’s like watching a meme stock, but with way more zeroes.
Some folks are calling this move “Binance’s quarterly BNB burns, but on steroids.” (Thanks, Flashbots Strategy Lead Hasu, for that spicy comparison.) Traders, it seems, have a habit of misinterpreting circulating supply data, and when that happens, we get wild, unpredictable rallies. Sounds like a party, right?
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2025-08-16 11:06