Binance’s 10th proof-of-reserve shows $1.352B customers’ XRP and 77 trillion Shiba Inu tokens.
The largest crypto trading platform, Binance, has published the tenth series of its proof-of-reserve (POR) detailing its customers’ holding of XRP, Bitcoin, Ethereum, Shiba Inu, and other prominent cryptocurrencies.
Binance XRP Holdings
According to the official report, Binance holds its customers’ XRP tokens in a one-to-one ratio. In particular, the ratio of customer net balances of XRP against Binance’s net holding is 103.82%. In figures, XRP investors deposited 2,587,670,373 XRP tokens with Binance, and the exchange’s hot wallet read 2,686,407,725 XRP.
And in dollar value, it implies Binance holds $1,352,606,289 (over $1.352 billion) XRP worth compared to its customers’ approximately $1.303 billion XRP.
It is worth mentioning that Binance XRP holdings in this tenth series report indicate a notable decrease in the amount of XRP the exchange held as of last month. In the August report, Binance claimed to hold 2,806,681,733 XRP worth $1,754,176,083. Notably, XRP traded above $0.625 at the time.
Meanwhile, Binance’s XRP holding for July is similar to the tenth report, as the exchange held 2,696,455,113 XRP. Yet, the dollar value is much less compared since XRP traded around $0.48 when the report was captured. In particular, the XRP was worth approximately $1.306 billion compared to $1.352 billion.
Nonetheless, Binance’s XRP holdings have not dropped below 2.5 billion XRP since the exchange published its proof of reserves in December 2022. It is worth mentioning that Binance stated no external auditor confirmed the portfolio. All the reports were tagged ‘self-verification.’
Binance Other Holdings
The tenth POR indicates that Binance holds 105% of Bitcoin with respect to its users’ balances, 105% of Ethereum, 114% of BNB, 118% of USDT, and 103% of LINK.
Notably, Binance holds large quantities of one of the most popular sensational cryptocurrencies, Shiba Inu. The tenth POR indicates that Binance holds 103% of Shiba Inu regarding its users’ balances.
Specifically, the exchange commands 77,739,069,838,516 (77 trillion) SHIB tokens. These coins hold a market value of $593,460,059. Like XRP, Binance’s Shiba Inu holdings have remained over 77 trillion since the past eight months of reporting.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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