Reserve

Solana

Shiba Inu

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<p dir="ltr">In a bid to promote transparency and trust with its customers, popular cryptocurrency exchange OKX&nbsp;<a href="https://www.okx.com/proof-of-reserves/detail" rel="noopener noreferrer nofollow">shared</a> its Proof of Reserve (PoR) which showed massive holdings of&nbsp;<a href="https://u.today/xrp-reserves-skyrocket-major-exchange-adds-449-million-more-xrp" rel="noopener noreferrer nofollow">XRP</a>, Dogecoin (DOGE) and Solana (SOL).</p>
<h2 id="xrp-doge-and-sol-take-the-spotlight">XRP, DOGE and SOL Take the Spotlight</h2>
<p dir="ltr">According to the data shared by OKX, its XRP holdings come in at 327,872,491 units, a figure that far outstrips the 321,519,909 that belong to its users. This OKX balance and user balance reserve ratio comes in at 102%.</p>
<p dir="ltr">A similar boost was seen for Dogecoin, the industry’s largest memecoin which marked a 101% reserve ratio. User's DOGE holdings come in at 4,225,024,214 units with actual Dogecoin held in OKX’s wallets coming in at 4,267,347,550.</p>
<p dir="ltr">Despite the&nbsp;<a href="https://u.today/solana-congestion-important-update-shared-with-community" rel="noopener noreferrer nofollow">network strains</a> experienced by Solana, OKX proved to its users that irrespective of the trend, it can redeem all their withdrawal requests. With a SOL reserve ratio of 104%, the exchange posted 5,297,256 SOL in its wallets to counterbalance its users’ 5,104,503 SOL.</p>
<p dir="ltr">Being able to meet a user's withdrawal request is now a major yardstick to gain a customer base. Sharing reserve reports on occasion has become a norm for trading platforms that hope to forestall the FTX-like implosion that stemmed out of a lack of accountability.</p>
<h2 id="beyond-okx-binance-shows-leadership">Beyond OKX, Binance Shows Leadership</h2>
<p dir="ltr">It is worth noting that Binance Exchange pioneered the release of the reserve assets, a tradition it still holds dearly to date. Just like OKX, Binance also&nbsp;<a href="https://u.today/heres-how-much-xrp-shib-and-doge-binance-currently-holds" rel="noopener noreferrer nofollow">reported</a> on a very robust Dogecoin, XRP and Shiba Inu reserve when it released its Proof-of-Reserve (PoR) earlier this month.</p>
<p dir="ltr">With the competition in the broader crypto ecosystem tightening across the board, communities are beginning to place a premium on these transparency reports. Potentially, regulators might also demand these reports as a key basis to guide the industry in the near future.</p>

Massive XRP, DOGE and SOL Reserve Spotted on OKX

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