According to @MilkRoadDaily, exchange tokens gained about +21.4% after OKX began phasing out OKT with a fixed-rate swap into OKB, creating a sector tailwind for exchange-token plays, source: @MilkRoadDaily tweet on Aug 16, 2025. According to @MilkRoadDaily, the fixed conversion opened an arbitrage when OKB rallied, which propelled OKT sharply higher as traders exploited the spread, source: @MilkRoadDaily tweet on Aug 16, 2025.