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.
— OKX (@okx) February 20, 2023
Hot off the press
TLDR:
1. OKX continues to have the largest 100% clean asset reserves in the industry.
2. Over a quarter million unique users have verified PoR already.
Details: https://t.co/3Jp3Ht52rC pic.twitter.com/H45KwQLitV
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%.
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
Foxy
Coincu News
