OKX Enhances Reserves Stability, Revealing Impressive User Assets Worth $14.9 Billion
In a groundbreaking disclosure, OKX has strengthened its reserves by unveiling its 14th balance sheet, indicating astounding user assets valued at $14.9 billion as of the snapshot taken on December 13th.
The focal point of this report is OKX’s commitment to safeguarding user-owned XRP tokens with strong coverage of 103%. This ensures robust support from the exchange’s reserves.
The coverage extends to an impressive 233.74 million XRP tokens, equivalent to a staggering value of $143.52 million. Notably, OKX’s XRP reserves exceed user funds by 7.673 million XRP, resulting in a surplus of 4.7 million.
XRP on OKX has increased by 300,000 tokens since the last report, leading to a 1% decrease in reserve ratio.
The report also highlights notable fluctuations in other digital assets, such as substantial increases in holdings, including 3,496 tokens. However, stablecoins, specifically USDT, saw a decrease of $161.72 million in OKX’s wallet assets, while USDC witnessed a decline of $42.315 million.
READ MORE RSI Indicates Potential Upsurge for XRP Amidst Momentum Shift"
While OKX stands out with its substantial reserves, users are encouraged to understand the centralized structure of exchanges. The age-old adage, “Not your keys, not your crypto,” reinforces the importance of investors practicing wisdom and caution, even as major exchanges work to enhance reserve stability.
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