Key Points:
This time, the exchange has repurchased and burned the largest value of tokens in a single month since it started the program.
On-chain data from Dune collected by user @sankin indicates that approximately 5.5 million tokens, equivalent to around $244 million, were removed from the token’s supply. These tokens have been burned, which means they are permanently removed from circulation.
According to the exchange, the value of the burn was around $258 billion when calculated at a 90-day average price. The exchange has described OKB as a “global utility token issued by the OKX Blockchain Foundation” that offers various benefits to its holders, including discounts and exclusive access.
Since its launch in May 2019, OKX has burned a total of 64,042,314.70 tokens through this monthly program. This is a significant amount of tokens, and it reflects the exchange’s commitment to managing its token supply and maintaining its value.
Despite this latest token burn, the price of OKB has remained relatively stable, with a slight 0.29% increase in trading on OKX. The exchange will likely continue to monitor its token supply and make adjustments as necessary to ensure the continued success of its platform.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Annie
Coincu News
Bitcoin supply on exchanges reaches new lows amid bullish market sentiment, signaling a move towards…
The Chainlink fund tokenization underscores the growing interest in asset tokenization, boosting Chainlink's price by…
The U.S. Senate voted 60-38 to overturn the SEC crypto asset accounting rule, easing restrictions…
Pyth grants $50 million, offering community, research, and developer grants, with rewards in unlocked or…
Is Robinhood losing crypto users? Data shown a 57% drop in trading volume in April.…
AMF issues warning against Bybit, due to non-compliance with French regulations. Last year, Bybit also…
This website uses cookies.