Binance’s 19th Proof of Reserves (PoR) Report Reveals Changes in Asset Holdings
The latest proof of reserves report from Binance has unveiled shifts in BTC, ETH, USDT, XRP, and Shiba Inu holdings, with total asset reserves amounting to $124.69 billion.
Renowned crypto news reporter, Colin Wu, emphasized that Binance has disclosed its 19th proof of reserves, showcasing significant changes in user assets.
As of June 1, Binance users held 582,292 BTC tokens, marking an increase of 534 BTC from the previous month. User ETH assets reached 4.664 million, reflecting a rise of 7.02%, while USDT tokens held by customers decreased by 3.38% to 22.08 billion.
Overall, Binance’s asset reserves stand at $124.69 billion, indicating a net outflow of $1.54 billion compared to the previous month. This report is crucial as it reaffirms Binance’s commitment to maintaining user assets 1:1, supplemented by additional reserves.
XRP Balances and Whale Movements
The report also delves into the financial statistics of XRP. Customer net balances totaled 2.9 billion XRP, while Binance net balances stood at 2.934 billion XRP. This figure includes 2.914 billion XRP in direct exchange balances and 20.69 million XRP in third-party custody.
The XRP ratio is at 101.17%, indicating a surplus in one of the balance metrics. XRP is currently trading at $0.5242 with a 0.03% growth in the last 24 hours.
Exchanges like Binance have observed significant inflows and outflows. Whale Alert, a blockchain tracker, noted $88 million in XRP transactions between Coinbase and Binance. These movements play a crucial role in understanding the exchange’s liquidity, risk management, and asset distribution.
Binance’s Shiba Inu Holdings
The report also sheds light on SHIB (Shiba Inu) cryptocurrency. Customer net balances of SHIB totaled 62.62 trillion tokens, while Binance’s net balances reached 64.8 trillion tokens. This includes 64.599 trillion SHIB in direct exchange balances and 209.55 billion SHIB in third-party custody.
The SHIB ratio of 103.49% suggests that customer holdings slightly surpass those of Binance. SHIB is currently trading at $0.00002524, experiencing a 1.43% decline in the last day.
Additionally, SHIB has garnered extensive support and listings on various major centralized exchanges. Del Crxpto, a crypto analyst, has expressed optimism that SHIB will not be the only ecosystem token traded on Binance.
Despite community requests, major exchanges like Binance and Coinbase have yet to list BONE, another Shiba Inu ecosystem token.
Disclaimer: This content is for informational purposes only and should not be construed as financial advice. The opinions expressed in this article are the author’s own and do not necessarily reflect The Crypto Basic’s viewpoint. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic is not liable for any financial losses.
