OKB Tokens Burned: A Massive Reduction in Circulating Supply
Main Idea
OKX burned 278,999,999 OKB tokens, reducing the total supply from 300 million to 21 million, which initially spiked the price before stabilizing. The exchange also updated OKB's smart contract and decommissioned OKTChain.
Key Points
1. OKX burned 278,999,999 OKB tokens, valued at over $26 billion, reducing the total supply from 300 million to 21 million.
2. Following the burn, OKB's price initially spiked to over $120 before stabilizing around $96.
3. OKB's on-chain market capitalization is approximately $2 billion after the burn.
4. OKX updated OKB's smart contract by removing the minting function and manual coin burns to reduce supply-side uncertainty.
5. OKTChain, an affiliated network, was decommissioned as part of the ecosystem streamlining, with operations continuing until a specified date.
Description
OKX burned a massive 278,999,999 OKB tokens permanently. OKB's total supply significantly reduced from 300 million to 21 million. Continue Reading: OKB Tokens Burned: A Massive Reduction in Circulating Supply The post OKB Tokens Burned: A Massive Reduction in Circulating Supply appeared first on COINTURK NEWS .
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