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OKB, the native token of crypto exchange OKX, gained nearly 160% on Wednesday after the platform revealed an overhaul to its blockchain ecosystem and tokenomics, including a major burn.
The rally, which briefly pushed OKB (OKB) prices as high as $135 from a daily low of $45, came as OKX confirmed it will conduct a one-time burn of 65,256,712.097 OKB from historical repurchases and treasury reserves. After the burn, the total OKB supply will be fixed at 21 million.
OKX also revealed that it would upgrade its zero-knowledge Ethereum Virtual Machine…
