Shiba

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Shiba Inu

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Binance, the leading cryptocurrency exchange by trading volume, recently <a href="https://www.binance.com/en/proof-of-reserves" rel="noopener noreferrer nofollow">released</a> its proof of reserves. Notably, meme cryptocurrency Shiba Inu remains among its largest holdings. However, there has been a notable drop in the exchange's SHIB holdings during this summer.&nbsp;
At the start of June, Binance's net SHIB balances stood at 62.96 trillion tokens. Now, they stand at 62.79 trillion. This represents a 0.27% drop over the past month.&nbsp;
While the drop is insignificant, a clear pattern has emerged. At the start of June, Binance held roughly 64.8 trillion worth of SHIB tokens. In two months, the exchange's SHIB reserves have dropped by roughly 3%, which is a rather substantial number of tokens.&nbsp;
According to CoinMarketCap data, SHIB/USDT is the 25th most traded pair on the Binance exchange with $85 million worth of daily volume. &nbsp;&nbsp;
<h2 id="what-about-other-assets">What about other assets?&nbsp;&nbsp;</h2>
Binance's Bitcoin assets currently stand at 613,471 after experiencing a 1.29% increase over the past month.&nbsp;
For comparison, the exchange's Ethereum assets have actually decreased by 0.21% over the same period of time.&nbsp;
<a href="https://u.today/binance-ceo-breaks-silence-on-how-long-bear-market-will-continue" rel="noopener noreferrer nofollow">Binance</a> started publishing proof-of-reserves reports back in November 2022 to ensure liquidity transparency.&nbsp;
The exchange publishes such reports on a monthly basis to prove that it holds enough assets in custody to cover its customers 1:1.&nbsp;
It is worth noting that Binance's corporate holdings are not included in such reports.&nbsp;
Users can also verify the availability of their own assets on the platform by generating a Merkle hash.&nbsp;

Binance's Shiba Inu (SHIB) Balances Continue to Drop

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