Popular cryptocurrency platform OKX has published its 10th Proof-of-Reserve report showing huge crypto holdings. According to OKX’s statement, the exchange has Bitcoin and 21 altcoins in its basket.
Weight in OKX’s basket is Bitcoin and these 2 altcoin projects
OKX, one of the industry’s leading digital currency trading platforms, published its 10th Proof-of-Reserve (PoR) report. Thus, the exchange has taken a step to demonstrate its liquidity in today’s ever-changing market. According to the details of the report, the exchange currently has reserves of $ 10.4 billion in the trio of Bitcoin (BTC), leading altcoin Ethereum (ETH) and Tether (USDT), respectively. OKX constantly shares with its users and the general public what it holds as reserves against customer deposits. In this regard, the exchange has become one of the few crypto platforms.
The culture of issuing PoRs started with Binance last year, when FTX Derivatives Exchange collapsed due to co-founder and former CEO Sam Bankman-Fried (SBF) manipulating customer deposits. Meanwhile, nearly 84% of voters in online polls acknowledge the importance of PoR. After this, the latest PoR posts become even more critical. Because 88% of respondents say they are more likely to choose an exchange that maintains a transparent and verifiable PoR system.
The crypto exchange’s basket includes these 19 additional altcoins
As for OKX, its latest report places it ahead of other exchanges in terms of PoR release succession. The latest report covers a total of 22 cryptocurrencies it supports. Additionally, the crypto platform announced that its PoR continues its trend of exceeding user deposits by 100% for the 10th consecutive year. According to the OKX report, the exchange’s basket includes these 19 altcoins, along with the three largest assets:
USD Coin (USDC), Ripple (XRP), Dogecoin (DOGE), Solana (SOL), OKB (OKB), Aptos (APT), Dash (DASH), Polkadot (DOT), alef (ELF), Eos (EOS) , Ethereum Classic (ETC), Filecoin (FIL), Chainlink (LINK), Litecoin (LTC), OKT Chain (OKT), ConstitutionDAO (PEOPLE), Ton Coin (TON), Tron (TRX) and Uniswap (UNI).
The stock market is trying to rebuild trust!
At press time, OKX is the 6th largest crypto platform by daily trading volume, according to data from CoinMarketCap. The exchange has proven time and time again that it will have no trouble honoring customer refunds without fear of a ‘bank run’. This has given it a well-deserved position as one of the customer-friendly platforms in the crypto industry today. In addition cryptocoin.com As you follow from , OKX operates outside the United States. This positioning provides greater operational freedom for listing altcoin tokens. It also protects the exchange from broad-based regulatory pressure from American regulators on relevant firms.
