Despite the past challenges faced by Binance, considered the world’s largest exchange by volume, it seems to continue maintaining its full strength, creating a sense of trust among investors. For a long time, Binance has been disclosing the amount of cryptocurrencies held on the exchange, and it has done so once again. The latest statements from the exchange, which gathered significant attention after CZ’s resignation last November, were noteworthy.
Binance Announced
A few hours ago, the Binance exchange published its 21st proof of reserves. The screenshot and information regarding this were dated August 1.
According to the announcement, BTC holdings of users increased by 1.29% compared to July 1, reaching 613,471 units. This increase corresponds to an additional 7,834 BTC. On the other hand, ETH holdings of users decreased by 0.21%, falling to 4.701 million units. Additionally, USDT holdings of users decreased by 1.52%, amounting to 21.19 billion dollars on the exchange.
More importantly, it was announced that there was a net inflow of 3.27 billion USD into the Binance exchange last month. One of the most notable aspects of the table shared above was the amount of cryptocurrencies held by the exchange. It was observed that Binance held a larger supply of all eight cryptocurrencies listed compared to user holdings.
Cryptocurrency Prices
After Monday’s market drop, Bitcoin’s price fell below 49,000 dollars. As of the time of writing, BTC is trading at 56,600 dollars, up over 7%.
Looking at the largest altcoin by volume, Ethereum is trading at 2,500 dollars, up 5.58%. This indicates that Bitcoin has performed better compared to Ethereum.
Binance’s native token, BNB, showed a price performance parallel to BTC. BNB price increased by 8% in the last 24 hours, reaching 488 dollars. Lastly, Solana, which made a significant impact last year and this year, saw a 14% increase, with its price rising to 146 dollars.
