Binance has updated its Proof-of-Reserve/PoR. The latest data shows that the exchange currently holds 79 trillion Shiba Inu and over 2.69 billion XRP tokens. Here are the latest statements on the balance sheet of the stock market…
Binance holds these altcoin projects
Despite turbulent market conditions and mounting regulatory challenges, Binance has remained the central exchange for investors. Current Proof of Reserve (PoR) proves this by showing the existence of 79 trillion Shiba Inu (SHIB) and over 2.69 billion XRP. Binance recently released the updated PoR, suggesting that the exchange keeps user deposits at a 1:1 ratio. As with previous reserve disclosures, the update shows that all client assets in different assets are held at overcollateralized rates. Wu Blockchain highlighted the development in question. The famous crypto influencer used the following statements:
Binance released the eighth proof of reserve, the user’s BTC asset accumulation decreased by 3.6 percent compared to the previous one, 22,000 BTC decreased; user’s ETH asset accumulation decreased by 4.4 percent, 192,000 ETH decreased; user’s BNB asset accumulation increased by 6.6 percent, increasing 1.83 million BNB; The user’s USDT asset accumulation decreased by 9.45 percent, increasing 1.61 billion USDT.
The stock market’s SHIB reserve drew attention
Data from Proof of Reserves shows customers’ Shiba Inu balances on the Binance exchange are 77 trillion SHIB tokens, worth $581.8 million at current rates. However, Binance currently holds 79.15 trillion Shiba Inu tokens worth $597.5 million in reserves. At this rate, the exchange holds 102.71% of SHIB balances held by customers. This over-collateralization rate aims to support the security of user funds.
Interestingly, clients’ SHIB balances have increased on Binance over the past three months despite the exchange’s regulatory issues and widespread FUD. As the reports revealed in March, Binance customers were holding SHIB 76.7 trillion three months ago. As a result, Binance’s assets amounted to 78.5 trillion SHIB. Recent data shows that these balances are increasing. In addition to Shiba Inu assets, the latest PoR statement shows the large amount of XRP held by Binance. Specifically, the exchange currently holds 2.69 billion XRP worth $1.29 billion.
Binance’s net XRP balance represents 103.92 percent of total client assets on the platform. User deposits currently stand at 2.59 billion XRP. Investors continued to hold XRP despite legal pressure from the US SEC lawsuit. However, unlike SHIB, Binance’s XRP balance has decreased over the past three months, while customers’ balances have increased in this time frame. In March, Binance held 2.7 billion XRP, while customers held 2.58 billion XRP.
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Announced for the rest of the article: Binance Holds Trillions of These 2 Altcoins!