Binance Announces Crypto Exchange Reserve Assets, This Is The Number Of Bitcoin And Its Ethereum!

Binance crypto exchange announced the company's Proof of Reserve. (Photo; Doc Business Insider)

JAKARTA Binance, the world crypto exchange giant, has again solidified its position by releasing the latest Reserve Evidence (proof of Reserves) report in July 2024. This report is not just numbers, but a firm statement regarding Binance's commitment to maintaining the trust of its users.

In this report, Binance describes the full details of its crypto asset reserves. The result? Very encouraging. Bitcoin, as a crypto asset with the largest market cap, shows significant growth in Binance reserves. This indicates the increasing investor confidence in Bitcoin and also in the security of the Binance platform.

Bitcoin Reserves Soar, Ethereum Down

Compared to the previous month, Binance's Bitcoin reserves increased by 1.29%, equivalent to the addition of 7,834 BTC or around Rp7.2 trillion (assuming an exchange rate of Rp16,000 per US dollar). This surge indicates a fairly large capital inflow into Bitcoin through the Binance platform.

On the other hand, Ethereum reserves have actually experienced a slight decline. This could be due to several factors, such as profit-taking from investors or shifting interest in other crypto assets. However, overall, Binance's Ethereum reserves are still at a very healthy level.

Binance Optimism Despite Rocked Markets

Binance CEO, Richard Teng, expressed his optimism about the future of the crypto market. According to him, the surge in trading activity in Binance, especially the flow of funds of IDR 19.2 trillion in a day, shows that investor interest in crypto assets is still very high.

Teng also believes that the current volatile market conditions will improve soon. This positive sentiment from the CEO of Binance is of course a breath of fresh air for investors who are still hesitant to enter the crypto market.