Chinese language crypto journalist and blogger Colin Wu has shared that OKX eliminated a considerable amount of its native OKB tokens this yr as a part of its nineteenth buy-back-and-burn initiative.

Within the meantime, Whale Alert noticed a lot of OKB transfers created from OKX to nameless wallets.

$177,000,000 in OKB go up in flames

In accordance with a weblog put up printed by OKX crypto big, the nineteenth spherical of the aforementioned program began in December final yr and completed on the final day of February 2023. Throughout that interval, the group managed to purchase again from the secondary market after which ship to useless wallets a complete of 5,183,976.43 OKB value roughly $177,000,000 (the calculations of this greenback equivalence have been made utilizing the 90-day common value).

The put up additionally said that OKX spent 30% of transaction charges charged on spot buying and selling on shopping for again OKB.

OKX introduced the nineteenth burning of platform tokens. From December 1, 2022 to February 28, 2023, the quantity burned can be $177m. OKX said that it spent 30% of the spot transaction charges to repurchase.

— Wu Blockchain (@WuBlockchain) March 24, 2023

OKX strikes shut to five million OKB: Whale Alert

On March 23, distinguished crypto monitoring platform Whale Alert detected 26 transactions carrying OKB. Every of them moved 180,000 tokens, 4,680,000 OKB in complete. They have been all despatched to the OKX burn pockets, 0xFf1Ee8604F9ec9C3bB292633bB939321AE861B30.

The circulating provide of OKB, the weblog put up says, constitutes 241,454,998 tokens. A complete of 58,545,001.93 of them have been faraway from circulation already since 2019.

On the time of writing, the token is altering arms at $44.36, displaying a minor decline over the previous 24 hours. On Feb. 16, OKB costs jumped to an all-time excessive of $52.31 because the founding father of OKX, Star Xu, introduced the launch of a brand new OKBChain.