The 19th proof of reserves (PoR) report from Binance reveals shifts in BTC, ETH, USDT, XRP, and Shiba Inu holdings, with asset reserves totaling $124.69 billion.
Colin Wu, a prominent crypto news reporter, highlighted on X that Binance has revealed its 19th proof of reserves, showcasing notable shifts in user assets.
As of June 1, Binance users held 582,292 BTC tokens, an increase of 534 BTC from May 1. User ETH assets reached 4.664 million, a rise of 7.02%, while USDT tokens held by customers decreased by 3.38% to 22.08 billion.
Binance released the 19th proof of reserves (snapshot date June 1). User BTC assets are 582k, an increase of 534 BTC from May 1. User ETH assets are 4.664 million, an increase of 7.02%. User USDT assets are 22.08 billion, a decrease of 3.38%. The current Binance asset reserves… pic.twitter.com/79gtbr2Cjh
— Wu Blockchain (@WuBlockchain) June 6, 2024
Overall, Binance’s asset reserves total $124.69 billion, reflecting a net outflow of $1.54 billion from the previous month. This report is crucial as it confirms Binance’s commitment to holding user assets 1:1, supplemented by additional reserves.
XRP Balances and Whale Movements
The report also details the financial statistics of XRP. Customer net balances amounted to 2,900,709,887 (2.9 billion) XRP, whereas Binance net balances stood at 2,934,745,782 (2.934 billion) XRP. This figure includes 2,914 billion XRP in direct exchange balances and 20.69 million XRP in third-party custody.
The XRP ratio stands at 101.17%, indicating a surplus in one of the balance metrics. XRP, at the time of writing, is trading at $0.5242 with 0.03% 24-hour growth.
Exchanges such as Binance have noticed inflows and outflows. Whale Alert, a blockchain tracker, observed $88 million in XRP moving in and out of Coinbase and Binance yesterday. These movements are crucial to understanding the exchange’s liquidity, risk management, and asset distribution.
Binance Shiba Inu Holdings
The report also provides insights into SHIB (Shiba Inu) cryptocurrency. Customer net balances totaled 62,621,636,992,214 (62.62 trillion) SHIB, while Binance’s net balances reached 64,808,700,407,107 (64.8 trillion) tokens. This includes 64,599,147,825,381 (64.599 trillion) SHIB in direct exchange balances and 209,552,581,726 (209.55 billion) SHIB in third-party custody.
The SHIB ratio of 103.49% suggests that customer holdings slightly exceed those of Binance. SHIB is currently trading at $0.00002524, a 1.43% plummet over the last day.
Moreover, SHIB has achieved extensive support and listings on several leading centralized exchanges. Del Crxpto, a crypto analyst, earlier expressed optimism that SHIB will not remain the only ecosystem token traded on Binance.
$SHIB will not be the only digital asset in its ecosystem to be on @binance forever. #ThinkMacro
— Del Crxpto (@DelCrxpto) May 27, 2024
However, despite persistent community appeals, major exchanges like Binance and Coinbase have yet to list BONE, another Shiba Inu ecosystem token.
DisClamier: 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 opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
