Binance increases it XRP holdings
he largest crypto exchange by trading volume had over 2.9 billion XRP tokens
Binance’s holdings of XRP are increasing. The largest crypto exchange by trading volume had over 2.9 billion XRP tokens, which is equal to over $$1.5 billion. Compared to the figure seen in September, this represents a nearly 6% increase.
Over 330 million XRP, or roughly $175 million at current prices, were added to net balances as Binance, acting on behalf of its customers, increased its net balance to match the growing balances of its clients. XRP currently has a coverage ratio of 100.66 percent on Binance.
XRP is currently the seventh-largest asset in terms of net balances. 29 different types of crypto assets are listed in Binance’s proof of work, with Bitcoin and Ethereum among the members. Binance possesses an astounding 636,229 BTC and 4.4 million ETH.
Binance implemented the PoR practice in November 2022 shortly after the FTX meltdown, which called into question the legitimacy of the entire cryptocurrency industry.
These frequent reports confirm that the company has enough assets to cover client deposits, which aims to increase user trust and transparency.
However, market fundamentals highlighted the bearish outlook for XRP is becoming more obvious as several indicators indicate that the road ahead will be difficult. The ongoing SEC appeal against Ripple reduces investor confidence by causing uncertainty.
A negative decision in 2025 might affect the token’s price movement. Due to XRP’s ongoing legal troubles, investor sentiment will likely remain cautious until this case is resolved.
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