Mega Burn + X Layer Upgrade Bring Multiple Benefits, OKB Skyrockets 112% in Half an Hour

BlockBeats News, August 13th. According to market data, OKB started to rise at 14:15 (Beijing time) today and continued to accelerate. It eventually hit a high of $99.27 at 14:40 before experiencing a pullback, achieving a 112% increase in just 25 minutes.

On the news side, OKX officially announced that they have decided to strategically upgrade X Layer, transforming it into a leading public chain focusing on DeFi, payments, and RWA scenarios. The network's throughput has been increased to 5000 TPS, Gas costs have been reduced to near zero, and security and Ethereum mainnet compatibility have been significantly enhanced. OKB will continue to serve as the sole Gas and native token of X Layer. Additionally, a one-time burn of 65.25 million OKB from historical buybacks and reserves has fixed the total supply at 21 million.

Update: Following the news release, OKB continued its upward momentum, reaching a high of $134, with a 1-hour gain expanding to 186%.