Binance’s 19th Proof of Reserves Report Unveils Changes in Asset Holdings
The latest Proof of Reserves (PoR) report from Binance, disclosed by Colin Wu, a well-known crypto journalist, showcases significant shifts in BTC, ETH, USDT, XRP, and Shiba Inu holdings. The report reveals that the total asset reserves amount to $124.69 billion.
According to the report released on X, Binance users saw an increase in their BTC holdings, with a total of 582,292 BTC tokens as of June 1, marking an increase of 534 BTC from the previous month. Additionally, user ETH assets surged to 4.664 million, representing a rise of 7.02%, while USDT tokens held by customers decreased by 3.38% to 22.08 billion.
Overall, Binance’s asset reserves reached $124.69 billion, indicating 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, reinforced by supplementary reserves.
The report also delves into the financial statistics of XRP, revealing that customer net balances amounted to 2.9 billion XRP, with Binance’s net balances standing at 2.934 billion XRP. The XRP ratio of 101.17% suggests a surplus in one of the balance metrics. At the time of writing, XRP is trading at $0.5242, with a 0.03% 24-hour growth.
In terms of whale movements, exchanges like Binance observed significant inflows and outflows of XRP. Whale Alert, a blockchain tracker, noted $88 million in XRP transactions between Coinbase and Binance. These movements play a crucial role in understanding an exchange’s liquidity, risk management, and asset distribution.
The report also sheds light on Shiba Inu (SHIB) cryptocurrency holdings on Binance. Customer net balances totaled 62.62 trillion SHIB, while Binance’s net balances amounted to 64.8 trillion tokens. The SHIB ratio of 103.49% indicates a slight excess of customer holdings over Binance. SHIB is currently trading at $0.00002524, reflecting a 1.43% decrease over the last day.
Despite the widespread support for SHIB, including listings on various centralized exchanges, there is ongoing anticipation for the listing of BONE, another Shiba Inu ecosystem token, on major exchanges like Binance and Coinbase.
Disclaimer: This content serves as informative and should not be regarded as financial advice. The opinions expressed in this article are solely those of the author and do not necessarily reflect The Crypto Basic’s stance. Readers are advised to conduct thorough research before making any investment decisions, as The Crypto Basic holds no responsibility for any financial losses incurred.