Yesterday, June 8th, OKX successfully completed the 20th round of buyback and liquidation of OKB tokens. 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%:
Earlier it became known that OKX announced plans to implement an account abstraction mechanism in its wallet.
Source: Cryptocurrency

I am an experienced journalist and writer with a career in the news industry. My focus is on covering Top News stories for World Stock Market, where I provide comprehensive analysis and commentary on markets around the world. I have expertise in writing both long-form articles and shorter pieces that deliver timely, relevant updates to readers.