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HomeCrypto NewsMarketBinance Holds Over 87 Trillion Shiba Inu As Reserves

Binance Holds Over 87 Trillion Shiba Inu As Reserves

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Binance holds nearly $1 billion in Shiba Inu.

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Binance reserves per CoinMarketCap data show seven wallets holding over 87 trillion SHIB worth over $816 million in reserves at the time of a screenshot by The Crypto Basic. The wallet balance may change with time.

The largest wallet holds about 56.9 trillion SHIB. Notably, the data from CoinMarketCap shows only wallets with holdings worth more than $100,000. Consequently, the exchange’s total Shiba Inu holdings will likely exceed this value.

Shiba Inu Binance wallet 1
0xf977814e90da44bfa03b6295a0616a897441acec
Shiba Inu Binance wallet 2
0x28c6c06298d514db089934071355e5743bf21d60
Shiba Inu Binance wallet 3
0xf977814e90da44bfa03b6295a0616a897441acec
Shiba Inu Binance wallet 4
0xdccf3b77da55107280bd850ea519df3705d1a75a
Shiba Inu Binance wallet 5
0x3c783c21a0383057d128bae431894a5c19f9cf06
Shiba Inu Binance wallet 6
0x8894e0a0c962cb723c1976a4421c95949be2d4e3
Shiba Inu Binance wallet 7
0x5a52e96bacdabb82fd05763e25335261b270efcb

The total SHIB value seen by The Crypto Basic represents about 1.2% of Binance’s total crypto holdings, an impressive feat by any yardstick. 

As previously reported, Crypto.com, a competing crypto exchange, holds about $558 million in Shiba Inu. Per the report, the exchange holds more SHIB than Ethereum, representing nearly 20% of the exchange’s total reserves. So Binance is holding more SHIB than any other exchange as a reserve.

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Notably, the statistic took Ethereum’s Vitalik Buterin by surprise. The Ethereum co-founder, while saying he was impressed by SHIB’s market cap, asserted that he did not understand how someone could hold $10 million in Shiba Inu in a perceived jab at the meme coin.

Despite these sentiments, the staggering value of Shiba Inu held by crypto exchanges indicates that the meme coin is still well sought out by retail investors, even with the price of crypto assets declining this year. SHIB is trading 89.2% below its all-time high of $0.00008616, formed in October last year, per CoinGecko data.

While the meme coin may not generate millions in percentage gains for holders this year as it did last year, it bears mentioning that the token has more utility than ever. Remarkably, the project has launched a card collection game this year. In addition, it is working on a Layer 2 solution while actively building its metaverse.

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Author

Ammara
Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

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