13.08.2025 12:26

OKX executed a surprising move, incinerating a substantial 75% of its OKB tokens, reducing the total supply to a fixed 21 million. This dramatic reduction, amounting to 65,256,712.097 OKB, immediately sent shockwaves through the market.

The price of OKB skyrocketed in response, leaping from approximately $47 to $142 within a mere two hours – a phenomenal surge of roughly 202%. This rapid and intense price increase reflects the market's immediate reaction to the significantly altered tokenomics. Real-time market data from various internet sources confirmed these price movements and tracked the circulating supply's impact.

Crucially, these burned tokens originated from repurchased holdings and treasury reserves, meaning they were not previously circulating. Consequently, the circulating market capitalization remained unaffected; only the fully diluted valuation (FDV), calculated by multiplying the price by the new total supply of 21,000,000, experienced a significant recalculation. This was a change in perceived scarcity, not a new influx of capital into the market.

While OKX has been actively pursuing regulatory compliance, positioning itself closer to regulated exchanges in North America, the post-burn FDV of approximately $2.1 billion (based on the new price) pales in comparison to the market capitalization of publicly traded exchanges. For instance, Coinbase boasts a market cap exceeding $82.8 billion, while Kraken's valuation hovers around $15 billion based on its last funding round. Although OKX surpasses both in spot trading volume, the disparity between its FDV and these established players remains substantial and noteworthy. This significant gap highlights the considerable challenges ahead for OKB to achieve comparable valuation.