Crypto exchange Binance has revealed the volume of client balances in the popular meme coins SHIB and DOGE, as well as in XRP.
Client assets in the above cryptocurrencies totaled: 3.13 billion XRP, 65.312 trillion Shiba Inu (SHIB), and 14.7779 billion Dogecoin (DOGE). All the reserves of Binance in DOGE, SHIB, and XRP exceed 100%. The reserves in these cryptocurrencies are, respectively, 102,6%, 103,6%, and 100,19%.
According to the Binance report, the size of reserves confirms the significant difference in assets in major cryptocurrencies. Thus, assets in Bitcoin (BTC) amount to 568,788 BTC, in Ethereum – 4.44 million ETH, and in Solana – 30.89 million SOL tokens.
The amount of client assets in DOGE, SHIB, and XRP is less than Binance's reserves, which guarantees clients' confidence in their savings and confirms the transparency and reliability of the exchange's operations. Client assets in XRP are 2.60% lower than reserves, in SHIB, 3.6%, and in DOGE, 0.19%.
The prevalence of crypto exchange reserves in these coins gives Binance the leverage to manage liquidity and risk in the face of asset price fluctuations in the volatile crypto market.
Comparing the data for February, it turns out that only the situation for SHIB remained the same; the other tokens show an increase, where XRP rose by 1.6% and DOGE by about 0.4%.
Meme coins are on the rise, and their popularity is not waning. Shiba Inu (SHIB) is currently showing a bullish trend. SHIB's price increased from $0.000026 to $0.000027. Crypto analyst Crypto Faibik noted that the token will soon show another bullish rally of 2x.
Meanwhile, Binance clients storing assets in XRP, SHIB, and DOGE continue to see higher reserve values than in BTC, ETH, and SOL. At the same time, Binance's reserves are still higher, providing the exchange with more liquidity.
According to analysts, such a policy of the company is aimed at ensuring sufficient liquidity on the exchange and maintaining the overall confidence of the market. Binance said that the exchange owns all user assets 1:1, and for some assets, reserves exceed client balances. In addition, the company's clients can always check the size of the exchange's reserves on the company's official page, where Proof of Reserves (PoR) is published to ensure that their funds are safe.
From April 20, the exchange will start implementing new KYC (Know Your Customer) rules. Experts are watching to see what impact this will have and if it will affect the Binance exchange. The compliance policy will allow the exchange to block unverified users without mandatory KYC. Such clients will be denied access to their sub-accounts, which were created under the Binance Link program.
