Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 11975
Markets: 92589
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
11975
Cryptocurrencies
54.28%
Bitcoin Share
Cryptopolitan 2024-12-10 22:13:48

Binance’s 25th Proof of Reserves shows a drop in BTC and a rise in ETH and USDT

Binance’s 25th Proof of Reserves shows a drop in BTC and a rise in ETH and USDT

Binance’s 25th Proof of Reserves report shows strong reserve ratios for Bitcoin (108.21%), Ethereum (102.68%), and Tether (108.96%). These reports, now regularized by Binance and other exchanges, are a bid to prove user funds are fully backed and accessible, building trust after the FTX collapse. Binance released its latest Proof of Reserves report on Tuesday, providing users with a detailed overview of its asset reserves as of December 1, 2024. The result paints a trend with major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) at this stage of the market cycle. Binance BTC reserve ratio surged to 108.21% As of the report’s snapshot date, Binance holds a Bitcoin reserve ratio of 108.21%, with 627,745.577 BTC in reserves compared to 580,111.242 BTC in user balances. This reserve ratio surpasses 100%, assuring that Binance reserves are more than enough to meet users’ withdrawal demands. Similarly, Binance’s Ethereum (ETH) reserves are strong, with a ratio of 102.68%. The exchange holds 5,078,355.565 ETH, while user balances total 4,945,692.541 ETH, ensuring the platform’s ability to manage withdrawals and maintain stability. Binance’s Tether (USDT) reserves also remain strong at 108.96%, the exchange’s ability to handle significant trading volumes in stablecoins, which is a critical component of the crypto market. The reserve ratio for Binance Coin (BNB) at 105.54%, This further shows Binance’s commitment to securing customer funds. By keeping reserve ratios above 100% for major assets. Changes in reserve holding The report also highlights changes in Binance’s asset holdings over the past month. Bitcoin reserves decreased by 4.68%, with user assets falling to 580,111 BTC from 608,586 BTC in the previous month. This drop of 28,475 BTC may shift in user behavior, as they increased withdrawals. On the other hand, Ethereum reserves have increased by 5.24%, reaching 4.945 million ETH. This growth of 246,174 ETH indicates that users may be increasingly bullish on Ethereum or actively using the platform for Ethereum-based transactions, especially in decentralized finance (DeFi). Tether rising by 20.93% to $25.22 billion, as Tether is one of the most widely used stablecoins in the market. That increases in Tether reserves usage of stablecoins for trading and transactions. However, Binance Coin (BNB) decreased by 2.15%, with user holdings falling to 37.12 million BNB. FTX’s collapse in 2022 fueled the need for crypto industry participants to increase transparency practices. Since then, Binance, alongside other crypto exchanges, has been committed to publishing regular Proof of Reserves reports, offering a clear snapshot of its asset holdings. This transparency helps assure the safety of user funds Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap

Most Read News



Cryptohopper
hardware wallets, hardware , wallets, Crypto Currency, Cryptocurrency hardware wallets, Crypto Apparal, crypto wallet, Cryptocurrency wallets

Market Cap
24h Vol
54.28%
Bitcoin Share
659
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.