DOGE

• OKX's PoR covers 22 commonly used digital assets and shows that OKX has maintained a reserve ratio exceeding 100% for 12 consecutive months across all assets.
• OKX consistently enhanced its Proof of Reserves in the past year.
• The open-source verification tool allows users to independently verify OKX's solvency and confirm their assets are backed by OKX reserves while maintaining their privacy.
• Users can view the latest PoR report, reserve ratios, and verify OKX's solvency here .

• Pepe (PEPE) has defied Bitcoin's dominance with a 31% surge following the burning of 6.9 trillion tokens worth $5.5 million.
• This token burn effectively removed tokens from circulation, quelling concerns about the project's token holdings.
• The Pepe team, in response to unauthorized transfers, also welcomed new advisors to guide the project's future direction.
• PEPE, inspired by Pepe the Frog memes, gained popularity but differs from other meme coins by lacking specific utility, such as the Layer-2 blockchain launched by SHIB.

Pepe (PEPE) Surges 31% After Dramatic Token Burn and Management Shakeup

• This remarkable upswing in value came on the heels of a dramatic token burn, during which a staggering 6.9 trillion tokens, worth approximately $5.5 million, were permanently removed from circulation.
• The Pepe meme coin, known for its distinctive frog-themed branding, is now trading at a two-month high following this significant development.
• The token burn not only had an immediate positive impact on PEPE's price but also eased concerns surrounding the management of the project's token holdings.
• At present, the Pepe team holds approximately 3.79 trillion tokens, valued at approximately $3.72 million.
• With the recent changes in management and the reduction in token supply, the project appears to be gearing up for further development and strategic partnerships.

Anonymous Whale Acquires Massive Stake in PEPE Amidst Volatile Market

• According to a recent post shared by the "Smart Money" tracking platform Lookonchain, this enigmatic whale acquired nearly two trillion PEPE tokens, sparking intrigue and speculation in the cryptocurrency sphere.
• Lookonchain’s post shed light on the identity of this anonymous whale, revealing that the individual boasts an impressive following of over 100,000 users on the X social media app.
• However, the acquisition of PEPE was not without its share of challenges, as Lookonchain noted that this whale had "lost a total of ~$30M in SUSHI including all CEX buys."
• Furthermore, this whale had unstaked a massive 2.46 trillion SUSHI tokens, valued at $2.12 million, on 4 June this year.
• As PEPE experiences fluctuations in its value and adoption, the community eagerly anticipates the next chapter in the meme coin's journey.

Price Overview

• This boosted its price to $0.000000963 at press time.
• Price chart for PEPE (Source: CoinStats)
  The latest increase in price added to PEPE’s positive weekly performance as well.
• Its price was also able to increase around 44% throughout the past month.

• OKX today announced that Nitro Spreads, a venue for institutional traders to execute basis, futures spreads, funding rate arbitrage and rolling delta strategies, has surpassed a cumulative trading volume of 2 billion USDT since its launch on OKX's Liquid Marketplace – a spot OTC, futures spreads and options liquidity network.
• The milestone solidifies Nitro Spread's position as a leading trading venue for institutional traders seeking efficient and intuitive tools to pursue their trading strategies.
• This brings Nitro Spreads in line with the high-frequency trading feature sets, such as WebSocket trading, offered by the main OKX exchange.
• Spreads on the weeklies and quartiles of inverse contracts; spreads on these futures did not exist on OKX before the introduction of Nitro Spreads.

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