How many Shiba Inu, XRP, Solana are stored on Binance Reserve?

In the latest news about the ecosystem, the exchange Binance has shared its Proof of Reserves, detailing the large amount of cryptocurrency that this exchange holds, including Bitcoin, Shiba Inu, XRP, and Solana. The report demonstrates how user balances align with the reserves of the exchange through verifiable on-chain tools. Fully Supported Reserves of SHIB, XRP, and SOL It is noteworthy that the report pointed out the coverage of the platform's currency, including the amount of Shiba Inu (SHIB), XRP, and Solana (SOL) that the platform holds compared to the number of users that have stored. The numbers show that Binance holds enough of each type of cryptocurrency to match the users' balances. For Shiba Inu, users hold 54.83 trillion SHIB, while Binance has 55.29 trillion SHIB. This number includes over 55.28 trillion SHIB stored on the platform and about 1.55 trillion SHIB held by third parties. This gives SHIB a reserve ratio of 100.84%. It is noteworthy that XRP also has strong support, as evidenced by the reserve report of the exchange platform. Customers hold 2.28 billion XRP in their accounts. Binance holds a total of 2.31 billion XRP. The majority of that, approximately 2.26 billion XRP, is stored on the exchange. In addition, approximately 49.87 million XRP is being held by a third party. This leads to a reserve ratio of 101.22%. Solana also has a similar model. Binance users hold 31.06 million SOL, while this platform has 32.04 million SOL available for trading.

According to the update, approximately 31.98 million SOL are held directly by Binance. Notably, around 55,543 SOL are stored through external custodial units. This gives Solana a coverage ratio of 103.13%. How to Check and Verify Your Balance on Binance? To ensure that users' funds are fully secured, Binance uses a system called Proof of Reserves. This report only includes customer funds. Binance's holdings are separate from what is displayed in the report. This exchange uses a cryptographic structure known as Merkle Tree to store and prepare reports. According to the design, this tree helps organize user data and combines them into a single final output, called the Merkle Root. Each user has access to their own Merkle Leaf and Record ID, allowing them to check whether their balance has been included in the latest report. This system allows users to verify that their funds are fully secured. Binance also uses zk-SNARK, a type of zero-knowledge proof, to enhance the process. With this tool, the exchange can verify that all personal balances make up the total assets of the user without disclosing detailed account information. This tool ensures that all balances are positive, that any changes made to the Merkle Tree are valid, and that there are no changes to the total amount of the user. PoR Highlights Broader Asset Changes It is worth mentioning that besides SHIB, XRP, and SOL, Binance also shares broader data. The amount of Bitcoin held has decreased by 19,400 BTC compared to June, bringing the total to 573,000 BTC. This decrease is 3.27%. The ETH balance also decreased by 285,000 ETH, currently at 5.051 million ETH, corresponding to a decrease of 5.34%. On the other hand, Tether (USDT) recorded a growth of 760 million USDT, bringing the total to 29.59 billion USDT, corresponding to an increase of 2.64%.

Binance continues to share these reports monthly, providing users with a clear view of asset management and support across the platform. Other leading cryptocurrency exchanges have also implemented the PoR model, a move that helps maintain trust after the collapse of the FTX derivatives exchange. #BreakoutTradingStrategy