Binance exchange has increased its current customer balance to over 3.13 billion XRP, worth 65.312 trillion units. Shiba Inu (SHIB) and Dogecoin (DOGE) with a net balance of 14.779 billion. These reserves represent 102.6%, 103.6% and 100.19% respectively.
XRP, SHIB and DOGE Performances Against Major Assets
The figures stated in the proof of reserves report are with customer net balances of 568,788 BTC, 4.44 million ETH and 30.89 million SOL Bitcoin It shows a significant difference in the assets of Ethereum (BTC), Ethereum (ETH), and Solana (SOL).
However, the client net balance is less compared to Binance’s, with a difference of 2.60% for XRP, 3.5% for SHIB, and 0.19% for DOGE. This small difference gives Binance leverage to ensure its ability to manage liquidity and risk profile in an ever-changing market. Compared to Binance holdings in February, not only the situation with SHIB has changed; XRP gained about 1.6% and DOGE gained less than 0.4%. Meanwhile, Binance users holdings in XRP, SHIB, and DOGE continue to dwarf their holdings in BTC, ETH, and SOL. Despite these obvious differences, Binance still has more liquidity than its users. Analysts say this is a strategy by the exchange to ensure adequate liquidity and maintain overall market confidence.
Stakeholder Observations and Future Implications
With new know-your-customer (KYC) measures kicking in on April 20, analysts are trying to see its impact on the Binance exchange. The policy, which aims to comply with regulatory requirements, will see unverified users who do not have the required KYC locked out of the exchange.
Affected users will no longer be able to access their subaccounts created as part of the Binance Link program.
