Token

Burn

Spot

<p>1968 wallets that have been dormant for four years have suddenly sprung to life, sending back 33.23 million OKB tokens (currently valued at $1.98 billion) to the OKX exchange over the past 16 hours. According to <a href="https://twitter.com/spotonchain/status/1770629059136897509" target="_blank" rel="noopener noreferrer nofollow">Spot On Chain</a>, this sudden activity has sparked speculation among the crypto community about the possibility of another imminent Buy-Back and burn event for the OKB token.</p>
<h2 class="wp-block-heading" id="previous-buy-back-and-burn-events">Previous Buy-Back and Burn Events</h2>
<p>The speculation surrounding another potential Buy-Back and Burn event is not unfounded, as OKX has a history of conducting such events. On March 16, OKX repurchased and burned 11.48 million OKB tokens, worth approximately 748 million.</p>
<p>Interestingly, 9.68 million OKB tokens (valued at $631&nbsp;million) from this event came from 539 wallets that had been dormant for four years, similar to the 1968 wallets that have recently become active.</p>
<p>In December 2023, OKX repurchased and burned OKB tokens worth approximately $630 million, demonstrating the exchange’s commitment to the token’s value and scarcity.</p>
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<h2 class="wp-block-heading" id="historical-buy-back-and-burn-rounds">Historical Buy-Back and Burn Rounds</h2>
<p>OKX has conducted several buy-back and burn rounds in the past, each resulting in a significant number of OKB tokens being removed from circulation:</p>
<ul>
 <li>The 20th round of the Buy-Back and Burn program, which took place between March 1 and May 31, 2023, resulted in the burning of nearly 5.5 million OKB tokens, worth $258 million.</li>
 <li>Between June and August 2019, the 5th round burned 6.1 million OKB tokens.</li>
 <li>The 6th round, which took place between September and November 2019, saw over 5.9 million OKB tokens burned.</li>
</ul>
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<h2 class="wp-block-heading" id="potential-impact-on-okb-token-value">Potential Impact on OKB Token Value</h2>
<p>The sudden awakening of the 1968 dormant wallets and the subsequent transfer of 33.23 million OKB tokens back to OKX have caught the attention of the crypto community.</p>
<p>Many are speculating that this activity could be a precursor to another significant Buy-Back and Burn event, which would likely have a positive impact on the value of the OKB token.</p>
<p>Buy-Back and Burn events are designed to reduce the circulating supply of a token, thereby increasing its scarcity and potentially driving up its value.</p>
<p>If OKX were to conduct another large-scale Buy-Back and Burn event, it could lead to a surge in demand for the OKB token as investors anticipate the potential price appreciation resulting from the reduced supply.</p>
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<p>The post <a href="https://captainaltcoin.com/okb-token-sees-1968-dormant-wallets-wake-up-fuels-speculation-of-another-okx-buy-back-and-burn-event/" rel="noopener noreferrer nofollow">OKB Token Sees 1968 Dormant Wallets Wake Up, Fuels Speculation of Another OKX Buy-Back and Burn Event</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

OKB Token Sees 1968 Dormant Wallets Wake Up, Fuels Speculation of Another OKX Buy-Back and Burn Event

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