Wednesday, June 19, 2024
HomeCryptocurrencyMillions of XRP Confirmed in OKX Proof of Reserves: Details

Millions of XRP Confirmed in OKX Proof of Reserves: Details

In the most recent update, the ninth consecutive monthly proof of reserves (PoR) report from OKX, a top crypto exchange, surfaced on Wednesday, revealing that as of July 26, OKX held more than $11.3 billion worth of crypto assets, which included XRP.

Notably, OKX’s PoR covers 22 commonly used digital assets, a testimony of OKX maintaining a reserve ratio exceeding 100% for nine consecutive months across all those assets.

Assets included in OKX’s PoR include BTC, ETH, USDT, USDC, XRP, DOGE, SOL, OKB, APT, DASH, DOT, ELF, EOS, ETC, FIL, LINK, LTC, OKT, PEOPLE, TON, TRX and UNI.

Read Also: OKX Releases Industry Leading 9th Consecutive Proof of Reserves in July, Showing USD$11.3 billion in Primary Assets

OKX XRP Holdings: Current Standings

Per OKX’s shared XRP PoR, most XRP reserves got stored in off-chain cold storage. The user asset holdings were worth 192,455,205 XRP and the total XRP held by the exchange is 196,322,816, implying that the outlet has more XRP than the amount deposited by users, which is ideal in the face of any unsuspecting crisis.

XRP Reserves On Other Leading Exchanges

The just-concluded summary ruling in favor of Ripple against the United States Securities and Exchange Commission (SEC) has proven decisive for the cross-border crypto platform. Most top exchanges now disclose their XRP reserves, possibly aimed at attracting more users and simultaneously building up trust and transparency.

Read Also: OKX Named Official Sleeve Partner Of Manchester City In Expansion Of Partnership

Uphold, one of the leading New York-based crypto exchanges, at the time of disclosing its XRP PoR, noted that it has about 2.1 billion tokens, equivalent to $1.07 billion locked up in reserves.

<

On the other hand, Binance, as of March, boasts an impressive 2.7 billion tokens in its safe reserve. Meanwhile, CryptoCom, another top exchange firm based in Singapore, revealed a 101% ratio for XRP in December last year.


Follow us on Twitter, Facebook, Telegram, and Google News

Chinedu Agbakwusi
Chinedu Agbakwusi
Chinedu Agbakwusi is a medical student at the prestigious Nnamdi Azikiwe University with sound knowledge of the crypto space. I am here to be a reliable plug for well-researched crypto content ranging from crypto news to market analyses and blockchainĀ inventions.
RELATED ARTICLES

Latest News & Articles