- The platform successfully completed the 20th redemption and “coin” burn
- The total supply of OKB has decreased by 64.04 million tokens
- As part of the new round, 5.5 million OKB were burned, at a market price of $244 million
- The round set a new record
- The previous one took place in March
Yesterday, June 8, OKX successfully completed the 20th round of token buyback and liquidation OKB $45 OKB OKB 1.3% market cap $2.7b Vol. 24N $2.1m . This is a new record. The exchange previously said it would burn “coins” based on seasonality and current operating performance.
Whole platform bought and destroyed 5.5 million OKB tokens. The market value of this volume of assets is about $244 million. The current number of OKB in circulation is 235.96 million “coins”.
In total, the exchange sent 64.04 million OKB to zero. The planned volume of the reduction in the supply of tokens is still not exactly known. The company noted that this largely depends on the situation on the market.
The previous round was in March. Then OKX burned 5.1 million tokens for a total of $177 million. The exchange introduced a quarterly liquidation mechanism for “coins” in 2019.
The new round had almost no effect on the current asset price. At the time of writing, it is trading at $44.94 with a slight daily gain of 0.95%:
We previously reported that OKX announced plans to introduce an account abstraction mechanism into its wallet. More details at the link. You can find more information directly about the EIP-4337 standard itself in our separate review. Note that Vitalik Buterin considers it an important element in the further development of cryptography.