Posted 1/23/2024, 3:32:00 PM
OKB Token Briefly Crashes 50% on OKX Before Recovering Due to Liquidation Cascade; Exchange Promises Compensation and Improved Risk Controls
- OKX's native token OKB crashed 50% in 3 minutes due to liquidations, later recovered to $45.64
- OKX will compensate users for losses caused by the liquidation cascade
- OKX will optimize risk controls and liquidation mechanisms to prevent future issues
- Thin liquidity makes crypto markets prone to flash crashes from large sell orders
- OKB has a $2.8 billion market cap, making it the 4th largest exchange token