OKX has been making some major moves lately — they added over 50 million XRP to their wallets between April 7 and May 10. While the monthly transparency report often comes and goes without fanfare, this change stands out: XRP wallet balances jumped from 199.2 million to 248.5 million, a 24% increase that puts the token at the top of the list this cycle.
At the same time, user account balances for XRP went up by about 49 million, which makes it seem like the exchange is either getting ready for higher user demand or responding to it in real time. The reserve ratio for XRP dropped a bit from 110% to 108%, but it is still far above the 1:1 backing threshold.
Other assets also saw changes — BTC user holdings dropped by 6% and are now at 125,000 BTC. ETH was up around 100,000 tokens, reaching 1.87 million. The most popular stablecoin was USDT, which increased by almost 900 million tokens to 8.75 billion in user holdings, growth of over 11%.
Overall, reserve ratios mostly stayed above 100%, with only a few minor changes.
But the numbers were not the only big story. OKX also said they are going to remove 11 spot trading pairs this week, but one delisting is raising eyebrows: the USDT/USDC pair.
Removing the main stablecoin bridge is an intriguing move in a market where liquidity and simplicity are often priorities. OKX team has not given any official reasoning, but the timing suggests they are tightening up their internal strategy.
