Binance’s Shiba Inu (SHIB) reserves, the world’s highest-volume cryptocurrency exchange, are down 5% since the release of the proof of reserve report.
Binance CEO Changpeng Zhao (CZ), who argued that exchanges should prove their existence after the FTX bankruptcy, CoinMarketCap offered by the new proof of reserve introduced the feature.
Current SHIB reserve according to CoinMarketCap data recently 59.3 trillion A decrease in the number of SHIBs in Binance’s reserves did not go unnoticed. Binance’s current reserve soon 3.2 trillion down To 55.9 trillion SHIB The fall brought many question marks to mind.
Investors cited Binance as the reason for the decrease in the exchange’s SHIB reserves. may have sold or that assets may have been withdrawn by customers to cold wallets. If Binance sold 3.2 trillion SHIB as investors claimed, approximately $28.2 million was entered into the stock market’s coffers.
Despite the decline in Binance’s SHIB reserves, the value of its assets remained almost the same.
On the other hand, at the end of last month, about experiencing a 2.3% decline The number of wallets holding SHIB increased by 0.7% as of December, reaching 1.26 million.