- Crypto.com’s largest portfolio allocations include ETH, BTC and SHIB.
- SHIB is the exchange’s second largest reserve holdings.
- In related news, the price of CRO has dropped 13% over the last 24 hours.
The founder and CEO of the crypto exchange, Crypto.com, Kris Marszalek, released a dashboard of the exchange’s proof of reserves that shows Shiba Inu (SHIB) as the second largest reserve holding. Currently, the total reserves with the exchange are worth more than $2 billion, out of which it holds almost $570 million in SHIB.
Crypto.com’s allocations (Source: Nansen)
In addition, the exchange’s largest allocation is in Bitcoin (BTC) with almost $900 million allocated towards the crypto market leader. This also makes up 30% of the portfolio. Its third largest allocation is Ethereum (ETH) with nearly $500 million, which is over 17% of the reserve holdings.
Stablecoins such as USD Coin (USDC) and Tether (USDT) make up just over 5% of the exchange’s allocation each. In related news, the platform’s native token, Cronos (CRO), is trading at $0.08146 following a 13.00% drop in price over the last 24 hours, according to CoinMarketCap. After establishing a daily high at $0.09423, CRO’s price is currently trading closer to its 24-hour low at $0.08124.
CRO/USDT daily chart (Source: CoinMarketCap)
The price of CRO plummeted over the last week after setting a local top near $0.1300. The sell volume that entered the market 4 days ago was too much for CRO’s key support level at $0.1014 as CRO’s price dropped to $0.0784. The dramatic decline in CRO’s price also forced the daily 9 and 20 EMA lines to cross bearish.
During this time, the daily RSI line also crossed bearishly below the RSI SMA line to take the RSI value into oversold territory.
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