OKB Token Soars 30%, All Time High After OKX Asset Announcement

Key Points:

• The OKB token continues to break its previous all-time high. It has now crossed the $50 mark, trading around $53.11.
• The impetus came from OKX’s announcement that the number of assets held on behalf of users increased to $ 8.6 billion, continuing to grow compared to the previous three statements.
• CryptoQuant shows that the clean reserves of OKX, Binance, and Huobi exchanges are 100%, 94%, and 61%, respectively.

According to Proof-of-Reserves data posted on the afternoon of February 20, the OKX exchange raised the number of assets held on behalf of users to $8.6 billion, continuing to increase compared to the previous three times announced. This became the impetus for the OKB token to record an all-time high nmhaats.

Specifically, OKX has information that it is managing 130,664 BTC, 1,288,504 ETH, and 3 billion USDT as of February 17. Compared to the number of money customers deposited on the exchange, the above figures are 2 – 4% higher, ensuring the margin ratio is constantly above 100%.

This accumulative news caused the OKB token price to peak again to surge 30%, reaching an all-time high. Currently, OKB is trading at $53.11.

Previously, the OKX exchange also said it would launch a new blockchain called OKBChain in Q1 of this year, which caused the OKB token to see a 20% increase and reach an all-time high of $47.7.

Last month, OKX announced that the number of user assets on the platform had increased from $6.4 billion in December 2022 to $7.5 billion.

In addition, the collapse of FTX, primarily due to illiquid token holdings, gave birth to a new concept of “clean reserves” – developed by CryptoQuant to measure how dependent an exchange is on its coin them, the exchange token value accounts for a low percentage of the balance sheet.

Also, according to the latest data from CryptoQuant, OKX continues to lead this index with a perfect score with 100%, while the “cleanliness” of Binance is only 94% and Huobi is 61%.

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