The OKX exchange recently updated its reserves, significantly increasing its XRP holdings, which is attracting interest in the cryptocurrency community.
Increase in XRP Reserves
Between April 7 and May 10, OKX added over 50 million XRP to its wallets, increasing the total from 199.2 million to 248.5 million. This represents a 24% growth, highlighting the token among other assets on the exchange.
Changes in Other Assets
At the same time, user account balances for XRP rose by approximately 49 million. The reserve ratio for XRP decreased slightly from 110% to 108%, remaining above the 1:1 backing threshold. Other assets also saw changes: users hold 125,000 BTC (a 6% drop) and 1.87 million ETH (an increase of 100,000 tokens). The most popular stablecoin was USDT, which increased by nearly 900 million tokens to 8.75 billion.
Removal of Trading Pairs
The exchange also announced plans to remove 11 spot trading pairs, with the USDT/USDC pair standing out. This measure raises questions, especially in a market where liquidity and simplicity are often priorities for traders.
Changes in reserves and the removal of trading pairs by OKX underscore the exchange's adaptation to market conditions and may indicate future strategies.
