Popular cryptocurrency platform OKX has released its 10th Proof-of-Reserve report showing its huge crypto holdings. According to OKX’s statement, there are Bitcoin and 21 altcoins in the basket of the exchange.
Weight in OKX’s basket is Bitcoin and these 2 altcoin projects
OKX, one of the leading digital currency trading platforms in the industry, has released its 10th Proof-of-Reserve (PoR) report. Thus, the exchange took a step forward to demonstrate its liquidity in today’s ever-changing market. According to the details of the report, the exchange currently holds $10.4 billion in reserves in Bitcoin (BTC), leading altcoin Ethereum (ETH), and Tether (USDT), respectively. OKX is constantly sharing with its users and the general public what it holds as a reserve against customer deposits. In this regard, the exchange has become one of the few crypto platforms.
The PoR issuing culture started with Binance last year when Sam Bankman-Fried (SBF), co-founder and former CEO of the FTX Derivatives Exchange, collapsed on the grounds that he was mixing customer deposits. Meanwhile, around 84% of voters in online polls acknowledge the importance of PoR. After that, the latest PoR shares 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.
These 19 additional altcoins are in the basket of the crypto exchange
As for OKX, its latest report places it ahead of other exchanges in terms of the sequentiality of its PoR release. The latest report covers a total of 22 cryptocurrencies it supports. Additionally, the crypto platform announced that its PoR continues to trend to exceed 100% of user deposits for the 10th consecutive year. According to the OKX report, the stock market’s basket includes these 19 altcoins, along with the three biggest 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 fulfilling customer repayments without fear of a ‘bank run’. This has given it a rightful position as one of the customer-friendly platforms in the crypto industry today. In addition, as you follow on Kriptokoin.com, OKX operates outside the United States. This positioning provides greater operational freedom for listing altcoin tokens. It also protects the stock market from the broad-based regulatory pressure of American regulators on related firms.
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