Binance’s 19th Proof of Reserves Report Reveals Changes in Asset Holdings
In the latest update from Binance, the 19th Proof of Reserves (PoR) report showcases shifts in holdings of BTC, ETH, USDT, XRP, and Shiba Inu, with total asset reserves amounting to $124.69 billion.
Prominent crypto news reporter Colin Wu highlighted the release of Binance’s 19th PoR, which details significant changes in user assets. As of June 1, Binance users held 582,292 BTC tokens, reflecting an increase of 534 BTC from the previous month. ETH assets held by users reached 4.664 million, marking a 7.02% rise, while USDT tokens saw a decrease of 3.38% to 22.08 billion.
Overall, Binance’s total asset reserves amount to $124.69 billion, showing a net outflow of $1.54 billion compared to the previous month. This report underscores Binance’s commitment to maintaining a 1:1 ratio of user assets, supported by additional reserves.
XRP Balances and Whale Movements
The report also provides insights into XRP’s financial statistics. Customer net balances totaled 2.9 billion XRP, while Binance net balances stood at 2.934 billion XRP, including direct exchange balances and third-party custody holdings. The XRP ratio indicates a surplus in one of the balance metrics, with XRP currently trading at $0.5242 with a 0.03% 24-hour growth.
Exchanges like Binance have observed significant inflows and outflows, as evidenced by $88 million in XRP movements between Coinbase and Binance. These movements play a crucial role in understanding liquidity, risk management, and asset distribution within the exchange.
Binance’s Shiba Inu Holdings
The report also delves into SHIB (Shiba Inu) cryptocurrency holdings. Customer net balances totaled 62.62 trillion SHIB, while Binance’s net balances reached 64.8 trillion tokens, including direct exchange balances and third-party custody holdings. The SHIB ratio suggests that customer holdings slightly exceed those of Binance, with SHIB currently trading at $0.00002524, reflecting a 1.43% decrease over the last day.
SHIB has garnered substantial support and listings on various centralized exchanges. Despite community requests, major exchanges like Binance and Coinbase have yet to list BONE, another Shiba Inu ecosystem token.
Disclaimer: This content serves as informational and should not be construed as financial advice. The opinions expressed in this article are solely those of the author and do not necessarily reflect the views of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions, as The Crypto Basic holds no responsibility for financial losses incurred.
