The latest proof of reserves (PoR) report from Binance showcases changes in BTC, ETH, USDT, XRP, and Shiba Inu holdings, with total asset reserves amounting to $124.69 billion.
Renowned crypto journalist Colin Wu highlighted on X that Binance has unveiled its 19th proof of reserves, revealing significant shifts 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, showing a rise of 7.02%, while USDT tokens held by customers decreased by 3.38% to 22.08 billion.
In total, Binance’s asset reserves now stand at $124.69 billion, indicating a net outflow of $1.54 billion compared to the previous month. This report is crucial as it demonstrates Binance’s dedication to maintaining user assets at a 1:1 ratio, supported by additional reserves.
The report also delves into the financial statistics of XRP. Customer net balances amounted to 2.9 billion XRP, while Binance net balances stood at 2.934 billion XRP. The XRP ratio sits at 101.17%, showcasing a surplus in one of the balance metrics. XRP is currently trading at $0.5242 with a 0.03% 24-hour growth.
Exchanges like Binance have observed significant inflows and outflows. Whale Alert, a blockchain tracker, noted $88 million in XRP moving in and out of Coinbase and Binance recently. These movements are essential for understanding the exchange’s liquidity, risk management, and asset distribution.
The report also sheds light on SHIB (Shiba Inu) cryptocurrency. Customer net balances totaled 62.62 trillion SHIB, while Binance’s net balances reached 64.8 trillion tokens. The SHIB ratio of 103.49% suggests that customer holdings slightly exceed those of Binance. SHIB is currently trading at $0.00002524, reflecting a 1.43% decrease over the last day.
SHIB has garnered substantial support and listings on various leading centralized exchanges. Del Crxpto, a crypto analyst, has expressed optimism that SHIB will not be the only ecosystem token traded on Binance. However, despite community appeals, major exchanges like Binance and Coinbase have yet to list BONE, another Shiba Inu ecosystem token.
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The opinions expressed herein 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. The Crypto Basic holds no responsibility for any financial losses incurred.
