Binance Announces Bitcoin, Ethereum, Solana, XRP Data: Which Ones Have Increased?

Binance, the world's largest cryptocurrency exchange, published its latest proof of reserves report.

According to the information shared by Binance, there has been an increase in the amount of many cryptocurrencies held on the exchange.

Crypto exchanges share proof of reserves to prove that the money customers hold on the exchange is backed by the exchange's reserves at a ratio of at least 1:1.

Binance claims that it keeps the majority of the company's funds in wallets that are not included in its proof-of-reserve reports.

Bitcoin and altcoin chart

The total amount of Bitcoin held in Binance as of June 1 increased by 0.09% compared to the previous month and rose to 582 thousand 293. According to current data, this is worth more than $41 billion.

During the same period, the amount of Ethereum on the exchange increased from 4 million 358 thousand 684 to 4 million 664 thousand 662. There was a difference of 305 thousand 978.

Binance customers increased the amount of Solana they held on the exchange from 31 million 752 thousand 613 to 32 million 430 thousand 253 month on month. This number increased from 2 billion 844 million 615 thousand 311 to 2 billion 900 million 709 thousand 887 for XRP.

According to the report, Binance's balance corresponds to more than the amount of assets held in customer accounts for all these cryptocurrencies.

The exchange also holds 22 billion 854 million 271 thousand 686 USDT.

Note: I mentioned an important project in the pinned tweet. I definitely recommend you to read it.