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Gamza Khanzadaev
Main Binance competitor exposes large 219 million XRP treasury in newest report
In a current disclosure, OKX has unveiled its thirteenth reserve certificates, showcasing a staggering complete worth of person property reaching a powerful $14.5 billion as of the snapshot taken on Nov. 23.
The spotlight of the report revolves across the change’s assurance that every one XRP tokens held by customers are robustly backed by its personal reserves, with astounding 104% protection. This assurance encompasses a considerable 219,171,917 XRP tokens, translating to a exceptional worth of $134.8 million.
Evaluating this information with October’s figures reveals an interesting development. Within the span of a month, OKX elevated its reserves in XRP by 9 million tokens, surpassing the expansion of person holdings, which solely rose by 7.3 million tokens. This means a proactive technique by the change to bolster reserves past the pure development of person holdings.
The report additionally sheds gentle on noteworthy fluctuations in different digital property, together with a surge in holdings of three,008 BTC and roughly 60,160 ETH. Within the stablecoin area, USDT skilled a rise of 280 million in OKX Pockets property, whereas USDC witnessed a lower of 1.73 million.
Crucially, OKX’s dedication to a 104% reserve ratio for XRP surpasses that of Bitcoin (BTC) and Ethereum (ETH), each sustaining a 103% reserve ratio on the platform.
Whereas OKX stands out for its important XRP holdings, it’s essential for customers to acknowledge the centralized construction of exchanges. The proverbial knowledge, “not your keys, not your crypto,” emphasizes the necessity for traders to train prudence and warning.
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