The cryptocurrency token OKB will see a one-time burn of roughly half its supply, reducing circulation by 52% and capping it at 21 million. The move sent prices soaring from $46 to $142 before settling at $104. The burn is part of OKX’s shift to its native blockchain layer, X Layer.

Investor enthusiasm in the cryptocurrency market is high as OKB surges 121.8% in 24 hours. OKX executed a massive token burn, reducing supply by 52%. The move led to a price jump from $46 to $142. The burn is part of OKX’s transition to its native blockchain layer, X Layer.

With a significant token burn, OKX is permanently removing roughly half of the OKB supply, leading to a surge in price and trading volume. This move is part of OKX’s transition to its native blockchain layer, X Layer. The burn will cut costs and speed up transactions.

OKB’s price soared after OKX announced a massive token burn, reducing supply by 52%. The move is part of OKX’s transition to its native blockchain layer, X Layer. Investors should consider sticking to established cryptocurrencies like Ethereum and Bitcoin, as significant burns like this one are rare.

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Read more at Yahoo Finance: Why the Cryptocurrency OKB Was Up More Than 192% Today