OKX has closed the registration of new users and mining pools in the Bitcoin, Litecoin, and Ethereum Classic services displayed on its website, with a total of just 19 active miners. All related services will be stopped on February 26, the site said in an official statement.
Why OKX is Stopping Support for the Mining Pool?
According to representatives of the trading platform, the main reason for this decision is “business adjustments.” but they refused to elaborate.
The OKX pool supported mining of several cryptocurrencies at once, working on the Proof-of-Work (PoW) consensus mechanism. Additionally, it also offered Ethereum (ETH) staking services.
However, in the last few years, many of the assets supported have disappeared. Until today, according to the crypto exchange website, the mining pool was only designed for Bitcoin, Litecoin (LTC) and Ethereum Classic (ETC). There were a total of 19 active miners on the platform.
Tragedy with the OKB token OKB
This week, the price of the token OKB instantly fell by more than 50%. Meanwhile, the market capitalization of the asset collapsed by $1.5 billion. Subsequently, the value recovered.
According to coinmarketcap, at the time of writing, the asset is trading at $$52.63. OKB’s market capitalization currently stands at $3.1 billion, with daily trading volume exceeding $29.5 million.
Exchange representatives blamed the “downward trend of the general market” for the abnormal fall. In addition, they promised users to compensate for all losses.
At the same time, analysts drew attention to the unusual deposit. Wallets inactive since 2020 contributed a total of 176,154 OKB ($9.58 million) to OKX.
In mid-December, the crypto exchange became a victim of a hack. The attack could have leaked the administrator’s private key. The attackers collectively stole $370 thousand from the site from 18 wallets.
About OKX
The OKX exchange has gained significant popularity among global users, and in general it is one of the most popular cryptocurrency platforms in the world. It offers a wide selection of trading instruments, a good level of security and high liquidity. Clients can receive rewards for registration, first deposit on the exchange, participation in various promotions and competitions, and attracting new users. Thanks to OKX bonuses, users can increase their income and make trading easier and more profitable. When compared, for example, with Huobi, the selection of bonuses here is not so significant, but also deserves attention. There are no ongoing futures tournaments like many other platforms.
