The post Binance Now Holds 61,269,444,642,101 Shiba Inu, Latest PoR Shows appeared on BitcoinEthereumNews.com.

Binance recently released the 23rd edition of its ongoing proof of reserves (PoR) snapshot, and the latest record still shows notable Shiba Inu holdings. According to the record for October, the exchange now has a net balance of 61,269,444,642,101 (approximately 61.27 trillion) Shiba Inu tokens. Of this figure, approximately 59.7 trillion SHIB tokens account for funds customers have secured with Binance. Overall, Binance maintains a 102.63% ratio of users’ Shiba Inu assets in its net balance. Notably, the exchange also entrusts 98,196,131,599 (or 98.2 billion) SHIB tokens to a third-party custody service. Based on this, Binance’s exchange balance of SHIB tokens stands at 61.17 trillion as of October 1. Binance Shiba Inu Holdings Take Hit While Binance continues to maintain a significant reserve of SHIB tokens, the current figure reflects a slight reduction from the figures observed in the proof of reserves report for September. As of last month, Binance had around 61.456 trillion SHIB tokens, with 59.81 trillion being customer funds. This implies that Binance’s Shiba Inu balance dropped by 186.43 billion over the last month, with customers withdrawing 114 billion tokens. The reduction becomes even more substantial when compared to the figures from just two months ago. Specifically, in August, Binance had a net balance of approximately 62.8 trillion SHIB tokens. With the current figures for October, it indicates the exchange has been drained of around 1.53 trillion Shiba Inu assets in two months. SHIB Reserves of Centralized Exchanges Drop by 4T This trend of consistently fewer tokens on the largest crypto trading platforms suggests market participants are either moving their tokens to other outlets or accumulating them in private wallets for long-term holding. This is further confirmed by data from CryptoQuant, which shows a steady decline in available Shiba Inu assets across all centralized exchanges. A month…

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Filed under: News - @ October 8, 2024 3:28 pm