“Binance offers reassurance. The cryptocurrency market has recently experienced turbulence that may call into question the stability of major platforms. Faced with this volatility and the legitimate concerns of the crypto community, Binance, a global leader in the sector, seeks to demonstrate its operational and financial strength by transparently publishing its reserves. According to blockchain data verified by analyst CryptoQuant, the exchange has $120 billion, mostly […]”, — write: businessua.com.ua
Binance offers reassurance. Cryptocurrency market recently experienced turbulence which may call into question the stability of major platforms. Faced with this volatility and the legitimate concerns of the crypto community, Binance, a global leader in the sector, seeks to demonstrate its operational and financial strength by transparently publishing its reserves. According to blockchain data verified by analyst CryptoQuant, the exchange has $120 billion, mostly in Bitcoin and USDT.
Le Journal du Coin brings you this promotional article in collaboration with Binance.
Key points of this article:
- Binance published data on $120 billion in reserves despite the turbulence in the cryptocurrency market.
- CryptoQuant confirmed that Binance reserves remain stable, with USDT at a record high of $42.8 billion.
Despite the market volatility seen over the past few weeks, Binance’s reserves remain outstanding stable . Updated data CryptoQuant indicate that general reserves exchanges currently amount to approx 120 billion dollars for all its assets.
This amount, although slightly lower than the peak y 144 billion dollars, reached on October 6 (a difference of 17%), shows an impressive stability . More importantly, Binance in the last few weeks, it has restored reserves by approx 4 billion dollars .
Such dynamics restoration emphasizes the ability of the exchange to support a strong reserve position providing thus liquidity, required for transactions and withdrawals for all users her services
Tweet Translation: Binance Reserves Remain Stable Despite October Volatility. Data shows total reserves near record levels of $120 billion and USDT ERC20 assets hit new all-time high of $42.8 billion – Source: Account X
Binance relies on two star cryptocurrencies of the ecosystem: Bitcoin and USDT Detailed analysis of reserve assets also emphasizes the constant trust users, especially to stablecoins. Reserves USDT on Binance reached a new historical the maximum in October, having made 42.8 billion dollars (which is 107.45% of customer deposits). This record level of ownership of the stablecoin Tether confirms stability platforms and user confidence in safety of their funds, even in times of uncertainty.
Besides, Binance continues to position itself as the main one custodian leading digital asset. Having approx 548,000 BTC in the reserve (which is 102.11% of deposits), the platform occupies the second place in the world by the volume of bitcoin assets, second only to the American exchange Coinbase. This is a huge amount BTC strengthens even more reliability exchange as a reliable guarantor of its digital assets customers .
After all, for two cryptocurrencies we find approx 38 million BNB (112.95% of deposits), 4 million ETH (100% of deposits), 2.4 billion TrueUSD (100% of deposits), 1.45 billion BUSD (own stablecoin for 100% deposits) and 1.43 billion MATIC which is again 100% of customer deposits.
In conclusion, CryptoQuant’s blockchain data analysis provides strong evidence of Binance’s current strength. The exchange’s global reserves, approaching $120 billion, demonstrate its ability to absorb market volatility. The record level of USDT reserves at $42.8 billion and the support of a significant position of Bitcoin (548,000 BTC) confirm the liquidity of the platform. These actual indicators confirm Binance’s position as a major player whose stable reserves remain the benchmark for the industry.
Source: journalducoin.com
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