Binance Releases 21st Proof of Reserves Report: Bitcoin Holdings Increase by 1.29%
- The world’s largest cryptocurrency exchange, Binance, has released its twenty-first Proof of Reserves (PoR) data.
- These regularly published PoR figures showcase the changes in crypto reserves as of August 1, compared to previous user balances.
- The data indicates a 1.29% increase in users’ Bitcoin holdings, reaching 613,471 BTC, while Ethereum balances showed a 0.21% decline, now at 4.701 million ETH.
Stay updated with the latest on Binance’s crypto asset reserves, highlighting notable changes and ensuring transparency.
Significant Changes in Cryptocurrency Reserves
Binance’s latest PoR data has shown significant changes in various cryptocurrency reserves for users. The report, covering the period up to August 1, marks a notable 1.29% increase in Bitcoin holdings among users, totaling 613,471 BTC. While Ethereum reserves witnessed a slight decline of 0.21%, settling at 4.701 million ETH.
BNB and USDT Reserves Experience Fluctuations
Additional noteworthy changes were observed in BNB and Tether (USDT) balances. User reserves of BNB increased by 1.5%, resulting in 40.5 million BNB. Meanwhile, USDT reserves decreased by approximately 1.52%, now totaling 21.19 billion USDT. Such fluctuations highlight the dynamic nature of user balances on the exchange.
Ripple (XRP) Reserves on the Rise
The latest data also recorded a surge in Ripple (XRP) balances, increasing from 2.85 billion last month to 2.93 billion this month. Such trends signify changes in user preferences and their trading activities on Binance.
Net Inflow and Full Collateral of Crypto Assets
Over the past month, Binance saw a total net inflow of $3.27 billion. Despite fluctuations in reserve levels due to market conditions, all assets remain fully collateralized at 100% or higher. Bitcoin’s collateral ratio stands at 106%, Ethereum at 103.96%, BNB at 106.42%, and USDT at 113.23%. This full collateralization continues to provide security and confidence to investors.
Diverse Support for Various Cryptocurrencies
To date, Binance has offered PoR support for 30 different cryptocurrencies. In addition to Bitcoin, Ethereum, BNB, and Tether, the exchange also supports assets such as Dogecoin (DOGE), Shiba Inu (SHIB), Ripple (XRP), Binance USD (BUSD), Litecoin (LTC), Solana (SOL), Chainlink (LINK), Chiliz (CHZ), Polkadot (DOT), Aptos (APT), Arbitrum (ARB), Mask Network (MASK), Enjin Coin (ENJ), WazirX (WRX), The Graph (GRT), PowerPool Concentrated Voting Power (CVP), Chromia (CHR), Curve DAO (CRV), 1inch (1INCH), Hashflow (HFT), SSV Network (SSV), Polygon (MATIC), Optimism (OP), True USD (TUSD), and Uniswap (UNI). This broad support underscores Binance’s commitment to providing transparency and security across a diverse range of digital assets.
Conclusion
Binance’s latest PoR report highlights its commitment to transparency and user security by fully collateralizing all user assets. As the market conditions fluctuate, users can take comfort in knowing that their holdings are secured. The exchange continues to expand its support for a variety of cryptocurrencies, ensuring that it remains a trusted platform for global cryptocurrency trading and investment.
The post Binance Releases 21st Proof of Reserves Report: Bitcoin Holdings Increase by 1.29% appeared first on COINOTAG NEWS.
