Breaking News
Investing Pro 0
🚨 Our Pro Data Reveals the True Winner of Earnings Season Access Data

Shiba Inu (SHIB) Reserve: Which Popular Crypto Exchange Holds the Most?

Cryptocurrency Nov 28, 2022 03:30PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
Shiba Inu (SHIB) Reserve: Which Popular Crypto Exchange Holds the Most?
 
ETH/USD
-0.68%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
SHIB/USD
-0.83%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

As most of the popular crypto exchanges around the world are feeling the aftershocks of the FTX-infused crypto thunderstorm, the public trust in CeFi (centralized finance) crypto exchanges is at an all-time low. Hence, bosses of top global crypto platforms are hurrying to reveal their crypto reserves to assure their customers that all transparency measures are being taken.

Firstly, Kris Marszalek, the CEO of Crypto.com, disclosed that the company holds as much as 20% of its reserves in Shiba Inu (SHIB). This might come as a surprise to the crypto investors who use conventional strategies, as SHIB even tops the largest altcoin Ethereum (ETH) in Crypto.com’s stash.

Secondly, the largest crypto exchange around the globe, Binance, also recently revealed its crypto holdings. Apparently, the crypto giant Binance holds around 87 trillion SHIB tokens, which equals $816 million. If compared to Crypto.com’s SHIB reserve, that’s $258 million more. However, SHIB takes up around 20% of Crypto.com’s reserve, while Binance only holds around 1% of capital in the canine crypto asset.

.tweet-container,.twitter-tweet.twitter-tweet-rendered,blockquote.twitter-tweet{min-height:261px}.tweet-container{position:relative}blockquote.twitter-tweet{display:flex;max-width:550px;margin-top:10px;margin-bottom:10px}blockquote.twitter-tweet p{font:20px -apple-system,BlinkMacSystemFont,"Segoe UI",Roboto,Helvetica,Arial,sans-serif}.tweet-container div:first-child{ position:absolute!Important }.tweet-container div:last-child{ position:relative!Important }

SHIB Gains Recognition in India

Besides, the popular canine coin is loved by Indian crypto exchanges. CoinDCX, the top Indian crypto exchange, holds as much as $14 million of its funds in SHIB. The crypto platform’s CEO Sumit Gupta thinks that providing Proof of Reserves isn’t enough, as publishing the Reserve of Liability on a regular basis is just as important.

Further on, the crypto investors of India tend to favour SHIB, as it became the top traded crypto asset on Indian exchanges this October. This is due to the fact that SHIB’s market price is a lot cheaper than other TOP 20 altcoins and has among the widest communities in crypto.

To illustrate, CoinDCX reported that 5% of all transactions on the crypto platform are SHIB-related. On the other hand, the premier Indian crypto platform WazirX reported the canine currency engagement numbers to be as much as 10% of all transactions.

On the Flipside

  • Strict policies on crypto in India might be stopping cryptocurrencies from gaining traction in the region.
  • SHIB’s market value dropped by 76.8% in yearly terms.

Why You Should Care

The popularity of memecoins brings a substantial benefit to the crypto industry, as memecurrencies generate the most social engagement.

Find out what’s going on in the mercurial world of memecoins:

Ethereum’s (ETH) Vitalik Buterin Gives Praises to Shiba Inu (SHIB) Community

Shiba Inu (SHIB) Gifted in Millions by Top Japanese Exchange as Burn Rate Soars 249%

See original on DailyCoin

Shiba Inu (SHIB) Reserve: Which Popular Crypto Exchange Holds the Most?
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email