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đš OKX's OKB Buy-Back and Burn Update: 8.24M OKB ($312.8M) Received!
In the past hour, OKX's OKB Buy-Back and Burn wallet received 8.24M OKB worth $312.8M.
Buy-Back and Burn Wallet Address: 0xff1ee8604f9ec9c3bb292633bb939321ae861b30
đ„ Background on OKB Buy-Back and Burn Program
Since May 4, 2019, OKX has implemented a quarterly buy-back and burn initiative, where they repurchase OKB tokens to burn.
Total OKB Burned So Far: 112.56M OKBValue of Burned Tokens: $3.652B (based on prices at the time of the burns)
đ» Market Reaction
Historically, the price of OKB has dipped after the last 6 burn events, suggesting a potential trend to watch for after this latest buy-back.
Keep an eye on the market for any price action following this major transfer!
#okb $okb #OKX.
#OKB
In the past hour, OKX's OKB Buy-Back and Burn wallet received 8.24M OKB worth $312.8M.
Buy-Back and Burn Wallet Address: 0xff1ee8604f9ec9c3bb292633bb939321ae861b30
đ„ Background on OKB Buy-Back and Burn Program
Since May 4, 2019, OKX has implemented a quarterly buy-back and burn initiative, where they repurchase OKB tokens to burn.
Total OKB Burned So Far: 112.56M OKBValue of Burned Tokens: $3.652B (based on prices at the time of the burns)
đ» Market Reaction
Historically, the price of OKB has dipped after the last 6 burn events, suggesting a potential trend to watch for after this latest buy-back.
Keep an eye on the market for any price action following this major transfer!
#okb $okb #OKX.
#OKB
OKX platform announces its plan to compensate users after the sudden collapse of OKB price by 48%
âąOKX aims to compensate users affected by the recent collapse of its native token, OKB. This announcement comes after the value of the token witnessed a significant decline on January 23. This caused widespread concern among investors and traders. âąSudden drop in OKB value On the morning of January 23, OKB's value dropped dramatically, falling 48% from $46.80 to $25.10 in less than 15 minutes. This sharp decline resulted in a significant loss of $6.5 billion in diluted market capitalization. However, the token has shown resilience, quickly rebounding to a trading value of $45.94 at reporting time. âąOKX employees explained the sudden drop due to the liquidation of several large leveraged positions. The next chain reaction saw a further decline in the price of the token due to market effects. Resulting in the liquidation of collateralised loans, leveraged transactions and cross-currency transactions. âąIn response to the disturbance caused by the sudden collapse. OKX has committed to fully compensating users for any additional losses incurred due to abnormal liquidation. The trading platform assured its users that a specific compensation plan will be developed and issued within the next 72 hours. The move is seen as a step towards maintaining user confidence and stabilizing market confidence after the incident. âąOKX's decision to offer compensation follows a broader trend in the cryptocurrency industry, where trading platforms increasingly bear responsibility for protecting their users from market anomalies and technical glitches. This approach is crucial in an industry known for its volatility and inherent risks. âąBroader Market Moves and OKX's Regulatory Compliance Efforts OKB's sudden collapse occurred against significant movements in the broader cryptocurrency market. Notably, Grayscale Bitcoin Trust (GBTC) sold a large amount of Bitcoin (BTC) to meet investors' redemption requests in its exchange-traded fund. This event was part of a larger market trend. Sold FTX, a bankrupt cryptocurrency trading platform. Nearly $1 billion worth of GBTC ETF shares as estates begin liquidation to repay creditors. âąThanks to these market dynamics, OKX is strengthening its regulatory compliance. In December 2023. The trading platform announced the delisting of several privacy coins, including Monero (XMR). Zcash (ZEC), Dash (DASH), and Horizon (ZEN). This move is in line with global regulatory trends, as trading platforms are examined to ensure compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. âąFurthermore, on January 2, OKX introduced additional requirements for UK users to comply with new Financial Conduct Authority (FCA) requirements. These measures included the mandatory completion of risk assessment questionnaires before users are allowed to trade. Demonstrating OKX's commitment to regulatory compliance and user safety. #OKB #Follow.us To see more news and details about digital currencies đ”â
đ„đŻ
đ° $OKB #OKB
We have a very bullish chart right heređ„
While other altcoins were dumping, we re-accumulated in the form of a Symmetrical Triangleđââïž
Now we have a breakout off the pattern and testing 0.236 fib resistanceđ, breakout through the one will lead to a rallyâïž
Targets for mid-term:
đŻ0.618 fib
đŻ0.786 fib
We have a very bullish chart right heređ„
While other altcoins were dumping, we re-accumulated in the form of a Symmetrical Triangleđââïž
Now we have a breakout off the pattern and testing 0.236 fib resistanceđ, breakout through the one will lead to a rallyâïž
Targets for mid-term:
đŻ0.618 fib
đŻ0.786 fib
đ„đ Trading Signal: #OKB (OKB) đđ„
đ Spotlight Coin: OKB đ
đ” Entry Price: $41.40
đŻ Take Profit: $45.00 (potential gain of 8.7%)
đ Stop Loss: $39.00
đ Prediction: OKB is gaining traction as OKEx continues to expand its offerings and user base. With a solid platform and growing ecosystem, OKB is poised for steady gains. Expect an upward trend as more users adopt OKExâs services. đđ
đŹ Why Invest? OKB benefits from the growth of one of the leading crypto exchanges. As OKEx innovates, so does the potential for OKBâs value to increase.
đ Tip: Watch for OKEx updates and new feature releasesâthey can drive significant interest and price increases! đđĄ
đ Spotlight Coin: OKB đ
đ” Entry Price: $41.40
đŻ Take Profit: $45.00 (potential gain of 8.7%)
đ Stop Loss: $39.00
đ Prediction: OKB is gaining traction as OKEx continues to expand its offerings and user base. With a solid platform and growing ecosystem, OKB is poised for steady gains. Expect an upward trend as more users adopt OKExâs services. đđ
đŹ Why Invest? OKB benefits from the growth of one of the leading crypto exchanges. As OKEx innovates, so does the potential for OKBâs value to increase.
đ Tip: Watch for OKEx updates and new feature releasesâthey can drive significant interest and price increases! đđĄ
Top 10 Exchange Tokens by Market Capitalization
Exchange-based tokens are normally associated with both centralized and decentralized exchanges and have different purposes. For centralized exchanges, these tokens usually serve to lower trading fees for users. On the other hand, these tokens also function as a governance token for decentralized exchanges.
#BNB #UNI $LEO #OKB #CRO $WBT #CRV $BGB $SNX $GT
Exchange-based tokens are normally associated with both centralized and decentralized exchanges and have different purposes. For centralized exchanges, these tokens usually serve to lower trading fees for users. On the other hand, these tokens also function as a governance token for decentralized exchanges.
#BNB #UNI $LEO #OKB #CRO $WBT #CRV $BGB $SNX $GT
4 Cryptos That Could Hit New All-Time Highs in September-
Despite a bearish cryptocurrency market, some altcoins have bullish-looking formations. With that said, BeInCrypto looks at the top cryptos for September that could hit new all-time highs.
1. #OKB Price Wave Count Supports New All-Time High
The OKB price has increased significantly since June 2021. The increase resembles a five-wave upward movement (white). If so, it is currently in wave four of this Elliott Wave count.
Technical analysts utilize the Elliott Wave theory to ascertain the trendâs direction by studying recurring long-term price patterns and investor psychology.
2. #Ocean Protocol (OCEAN) Shows Signs of a Breakout
The OCEAN price has experienced a decline below a descending resistance line after reaching its all-time high of $1.94 in April 2021. This downward trend has persisted for a span of 829 days. During this time, the price has made six unsuccessful efforts to break out from this trend line (red icons).
Because trend lines tend to lose strength with each touch, there is a higher likelihood of eventually breaking out from this trend line.
3. Bitcoin Cash (#BCH ) Clears Corrective Pattern
The BCH Price began an upward movement in November 2022. After creating a higher low in June 2023, the price accelerated its rate of increase. This led to a new yearly high of $329.
The entire upward movement looks like a five-wave increase. If so, the BCH price completed wave four by bouncing at the 0.618 Fib retracement support level on August 17 (green icon). Besides validating the Fib support, the bounce also validated the support line of a descending parallel channel.
4. Toncoin (#TON ) Could Cruise in September
The TON price has fallen under a descending resistance line since December 2022. The rejection on April 2023 (red icon) catalyzed a sharp fall that led to a low of $0.96 on June 11.
However, the price has been increasing since. After an initial deviation, TON reclaimed the $1.35 horizontal area, validating it as support.
Despite a bearish cryptocurrency market, some altcoins have bullish-looking formations. With that said, BeInCrypto looks at the top cryptos for September that could hit new all-time highs.
1. #OKB Price Wave Count Supports New All-Time High
The OKB price has increased significantly since June 2021. The increase resembles a five-wave upward movement (white). If so, it is currently in wave four of this Elliott Wave count.
Technical analysts utilize the Elliott Wave theory to ascertain the trendâs direction by studying recurring long-term price patterns and investor psychology.
2. #Ocean Protocol (OCEAN) Shows Signs of a Breakout
The OCEAN price has experienced a decline below a descending resistance line after reaching its all-time high of $1.94 in April 2021. This downward trend has persisted for a span of 829 days. During this time, the price has made six unsuccessful efforts to break out from this trend line (red icons).
Because trend lines tend to lose strength with each touch, there is a higher likelihood of eventually breaking out from this trend line.
3. Bitcoin Cash (#BCH ) Clears Corrective Pattern
The BCH Price began an upward movement in November 2022. After creating a higher low in June 2023, the price accelerated its rate of increase. This led to a new yearly high of $329.
The entire upward movement looks like a five-wave increase. If so, the BCH price completed wave four by bouncing at the 0.618 Fib retracement support level on August 17 (green icon). Besides validating the Fib support, the bounce also validated the support line of a descending parallel channel.
4. Toncoin (#TON ) Could Cruise in September
The TON price has fallen under a descending resistance line since December 2022. The rejection on April 2023 (red icon) catalyzed a sharp fall that led to a low of $0.96 on June 11.
However, the price has been increasing since. After an initial deviation, TON reclaimed the $1.35 horizontal area, validating it as support.
About 1 hour ago, $OKB dropped 50% of their price. Let's look back at what can cause this event đ
On Jan 16, 10 wallet addresses deposited 176.2K #OKB to OKX Exchange. What we should notice is all 10 addresses received OKB 4 years ago.
Until now, these wallets have earned $8.42M in profits. Given the timing, there is a possibility that these wallets could be associated with a single entity.
While it is uncertain whether they are connected to the market dump, the movement raises suspicions due to its unusual nature.
*OKX exchange is currently investigating the cause, and the CEO of OKX is also unsure about what just happened with their beloved token, $OKB.
#onchain #OKXDEXHackingRumor
On Jan 16, 10 wallet addresses deposited 176.2K #OKB to OKX Exchange. What we should notice is all 10 addresses received OKB 4 years ago.
Until now, these wallets have earned $8.42M in profits. Given the timing, there is a possibility that these wallets could be associated with a single entity.
While it is uncertain whether they are connected to the market dump, the movement raises suspicions due to its unusual nature.
*OKX exchange is currently investigating the cause, and the CEO of OKX is also unsure about what just happened with their beloved token, $OKB.
#onchain #OKXDEXHackingRumor
đ #ATH Reached: 14.11.2023
Last 7 Days Performance đ
1. $OKB - 23.14%â đ„
2. $TIA - 167.27%â
3. $MEME - 111.93%â
4. $BEAM - 88.51%â
5. $PRIME - 72.59%â
6. $CREPE - 0.89%â
7. $POL - 32.79%â
8. $STFX - 61.15%â
9. $BANANA - 55.87%â
10. $VCNT - 5.62%â
#top10coin #OKB #alltimehigh #top
Last 7 Days Performance đ
1. $OKB - 23.14%â đ„
2. $TIA - 167.27%â
3. $MEME - 111.93%â
4. $BEAM - 88.51%â
5. $PRIME - 72.59%â
6. $CREPE - 0.89%â
7. $POL - 32.79%â
8. $STFX - 61.15%â
9. $BANANA - 55.87%â
10. $VCNT - 5.62%â
#top10coin #OKB #alltimehigh #top
