New data reveals that one top-50 altcoin has surged by over 100% in under two days after announcing upgrades to its blockchain as well as a token burn.
In a new announcement, the crypto exchange platform OKX (OKB) – which has been collaborating with layer-2 scaling solution Polygon (POL) since 2023 – completed its update earlier this month, upgrading the blockchain’s throughput and security while reducing its fees.
“Facing the continuous expansion of the decentralized world, OKX has made the strategic decision to upgrade X Layer and build it into a leading public network with a dedicated focus on DeFi (decentralized finance), payments, and real-world asset (RWA) applications…
Following Polygon’s strategic adjustments to the Polygon technology stack, X Layer has fully integrated the latest version of Polygon CDK (formerly zkEVM) and completed the ‘PP upgrade’ on August 5, 2025.”
OKX also says that it’s planning on burning tens of millions of tokens as a means of reducing the digital asset’s overall supply down to 21 million.
“OKX will carry out a one-time burn of the 65,256,712.097 OKB that has been accumulated from historical repurchases and treasury reserves and will switch to using a smart contract to automatically burn all OKB transferred to a blackhole address.
After this operation is completed, the total OKB supply will be fixed at 21 million.”
The news preceded a massive rally for OKB, which went from a price of $46.71 on August 12th to $125.88 just a day later. The digital asset has since stabilized and is trading for $98.67 at time of writing, a 2% decrease on the day.
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
