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- The cryptocurrency exchange OKX has released its 19th proof-of-reserves report.
- The report highlights the collateral ratios of 22 assets, including Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).
- OKX maintains its over-collateralization status, with notable increases in reserves for key cryptocurrencies.
Discover the latest insights from OKX’s 19th proof-of-reserves report, showcasing significant growth in Bitcoin, Ethereum, and Tether holdings.
OKX’s 19th Proof-of-Reserves Report: Key Highlights
On May 29, OKX published its 19th proof-of-reserves report on its official website. The report provides a detailed overview of the collateral ratios for 22 different assets held by the exchange, including major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). This transparency initiative aims to reassure users about the security and solvency of their assets on the platform.
Significant Increases in Bitcoin and Ethereum Reserves
During the past month, OKX has seen a notable increase in user-held Bitcoin and Ethereum assets. Specifically, Bitcoin reserves have grown by 2.62%, reaching a total of 147,000 BTC. Similarly, Ethereum reserves have surged by 39,000 ETH, bringing the total to 1.67 million ETH. These increases reflect growing user confidence and activity on the platform.
USDT Holdings and Overall Collateralization
In addition to Bitcoin and Ethereum, the report highlights a 4.26% increase in Tether (USDT) holdings, which now total 6.51 billion USDT. OKX has confirmed that all 22 cryptocurrencies included in the report are over-collateralized, with Bitcoin at 104%, Ethereum at 103%, and USDT at 102%. This over-collateralization ensures that the exchange can cover all user assets, even in volatile market conditions.
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Conclusion
OKX’s 19th proof-of-reserves report underscores the exchange’s commitment to transparency and security. With significant increases in reserves for major cryptocurrencies and robust collateral ratios, OKX continues to build trust with its users. As the cryptocurrency market evolves, such initiatives will be crucial in maintaining user confidence and ensuring the stability of digital asset platforms.
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