Binance’s XRP Holdings Soar: From 2.69 to 2.8 Billion in Just a Month

The post Binance’s XRP Holdings Soar: From 2.69 to 2.8 Billion in Just a Month appeared first on Coinpedia Fintech News

Binance, a leading global cryptocurrency exchange, has seen a substantial surge in its XRP holdings, with the exchange now boasting an impressive stash of 2.8 billion XRP tokens. The latest Periodic Report of Ownership (PoR) reveals an increase of over 100 million XRP in the exchange’s holdings.

This remarkable growth in Binance’s XRP holdings has caught the attention of the cryptocurrency community. Presently, Binance holds a net balance of a staggering 2,806,681,733.985 XRP (roughly 2.8 billion).

A unique aspect emerges when analyzing Binance’s customers’ cumulative XRP holdings, which total about 2,711,777,813.604 XRP (nearly 2.7 billion). It signifies not only Binance’s confidence in the potential of XRP but also the exchange’s commitment to catering to its users’ demand for this digital asset.

It appears that Binance holds more XRP than its customers do. As a result, the intriguing ratio of customer net balance to Binance’s own net balance lands at around 103.5% for XRP. 

Moreover, this strategic move serves as a compelling confirmation of Binance’s rock-solid capacity to comprehensively cover its users’ XRP assets in a flawless 1:1 ratio.

Binance’s Commitment to Clarity: PoR Report Highlights Transparency and Growth

The latest Periodic Report of Ownership stands as a testament to Binance’s dedication to transparency and its role in fostering the growth of the crypto landscape. 

Unlike FTX’s cryptocurrency exchange, Binance consistently discloses its crypto holdings post-event. The latest report marks the ninth instance where Binance willingly lays bare its most current assets reservoir.

In the prior month, Binance’s XRP riches weighed in at approximately 2.69 billion XRP, with an intriguing customer net balance to net balance ratio of 105%.  The recent PoR exposé, signifying that customers now boast 2.7 billion XRP, unveils a fascinating tale of growth. 

With its substantial XRP holdings, the Binance customer base has substantially expanded its XRP fortunes, remarkably amassing over 100 million XRP in just a single month.