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OKB Monthly Report: Single-day Trading Volume Surpasses $310M, 3,509,874.52 OKB Were Burnt

2020.06.12 OKEx Academy

 OKEx (www.okex.com), the world’s largest cryptocurrency spot and derivatives exchange, released the latest OKB ecosystem monthly report (May 2020) prepared by the OKB team on Jun 9. OKB, the global utility token adopted by OKEx, recorded over $310 million trading volume on May 29, showing an astonishing liquidity.

In addition, the OKB ecosystem continued to expand, and the OKB buy-back and burn scheme has also been executed. In May, OKB reached cooperation with 2 new partners, covering payment and crypto exchange platforms. On the other hand, 3,509,874.52 OKB, equivalent to $19 million, were burnt in the eighth and the largest buy-back and burn scheme.

In terms of OKChain, one of the most important application scenarios of OKB, has also implemented a significant upgrade (version 0.10). Besides, OKChain launched the first Hackathon to invite global top developers to show their creativity in decentralized applications based on OKChain.

Enhanced Liquidity and More OKB Use Cases

On May 20, OKB has reached partnership with Linka, a famous payment platform in Korea, which allows OKB holders to buy daily necessities in Korea with OKB. On May 28, OKB landed on Changelly, one of the most famous crypto exchange platforms. With the support from Changelly, users can now use Visa, MasterCard, Apple Pay and other major payment services to buy OKB directly.

As of today, the number of OKB ecological partners has reached 45, covering payment, lifestyle, wallets, security, etc. Besides, OKB is now listed on more than 50 exchanges, serving users in more than 100 countries and regions.

As OKB becomes more practical, its liquidity is also enhanced. On May 29, OKB recorded over $310 million trading volume, hitting a new high of this quarter.

The Largest OKB Buy-back and Burn Executed

The eighth OKB Buy-back and Burn scheme was also carried out in May. Between March 1 and May 31, a total of 3,509,874.52 OKB, equivalent to $19,000,000, was bought back from the market and sent to the black hole address to burn. $1 million more OKB was burn compared to the previous period. After the eighth buy-back and burn, a total of 20,671,583.58 OKB was burnt, which is approximately 7% of the originally issued 300 million OKB. The current OKB circulation in the market is 279,328,416.42 OKB. As no additional OKB will be issued in the future, the circulation of OKB is expected to continue to go down.

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Disclaimer: This material should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. Trading digital assets involves significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.


About OKEx

The world’s largest and most diverse cryptocurrency marketplace, OKEx is where global crypto traders, miners, and institutional investors come to manage crypto assets, enhance investment opportunities, and hedge risks. We provide spot and derivatives trading, including futures, perpetual swap, and options, of major cryptocurrencies, offering investors great flexibility in formulating their strategies to maximize gains and mitigate risks.

Media contact:
Vivien Choi
Email: [email protected]
Telegram: @vivienchoi

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