- Binance, the world’s largest cryptocurrency exchange, has published its 18th Reserve Report.
- The report comes in the wake of FTX’s sudden bankruptcy, which has shaken confidence in Bitcoin exchanges.
- Binance has been publishing reserve reports at regular intervals as part of its reserve proof system designed to restore trust.
Binance, the world’s leading cryptocurrency exchange, has released its 18th Reserve Report, providing insights into user holdings of various cryptocurrencies, including Bitcoin, USDT, Ethereum, and more.
Binance Releases 18th Reserve Report
Binance, the world’s largest cryptocurrency exchange, has released its 18th Reserve Report. This comes after the sudden bankruptcy of FTX, which has led to a decrease in trust in Bitcoin exchanges. In an effort to regain this trust, Binance announced its reserve proof system and has been publishing reserve reports at regular intervals.
Details of the Reserve Report
The report includes not only Bitcoin (BTC) but also USDT, Ethereum (ETH), BNB, Solana (SOL), FDUSD, XRP, USDC, TUSD, Dogecoin (DOGE), Polygon (MATIC), Polkadot (DOT), Chainlink (LINK), SHIB, Arbitrum (ARB), Litecoin (LTC), Optimisim (OP), Chilliz (CHZ), UNI, Aptos (APT), GRT, SSV, CHR, ENJ, 1INCH, CRV, WRX, MASK, HFT, BUSD, and CVP.
Significant Increases in User Holdings
According to the report, users’ Bitcoin holdings have increased by 2.28% from the previous report, reaching 581,758 BTC, an increase of 12,970 BTC. USDT holdings have also seen an 8.01% increase, with an additional 1.69 billion USDT, reaching a total of 22.85 billion. BNB holdings have increased by 3.7% to reach 40.7 million. Lastly, SOL holdings have increased by 2.78% to reach 31.7 million.
Conclusion
The 18th Reserve Report from Binance provides valuable insights into the holdings of various cryptocurrencies by its users. The increases in holdings across various cryptocurrencies indicate a continued interest and trust in the platform despite recent events in the crypto exchange landscape. It remains to be seen how these trends will evolve in future reports.
