• Binance’s proof-of-reserve report revealed a growth in BNB reserves
• BNB has moved back to the fourth spot in market cap rankings.

Binance [BNB] has now released its proof-of-reserve report for the eleventh time. This practice began following the unfortunate collapse of FTX. In the most recent report, it was noted that the reserve of its BNB token has experienced growth.

Binance reserve shows decrease in some key reserves

Binance recently published a report disclosing its reserve holdings. According to this report, some significant assets exhibited a decrease compared to the previous month. An analysis of the proof-of-reserves (POR) revealed that its Bitcoin balance stood at 584,659,077 at press time.

The figure reflected a 0.72% decrease when compared to the previous balance held by the exchange. 

Additionally, its Tether [USDT] reserve surpassed 15.2 billion. However, it had a 0.29% decrease when compared to the previous reserve report.

On the positive side, Ethereum [ETH] and Binance Coin saw an increase in their reserves. The snapshot indicates that the exchange’s Ethereum reserve has grown by 2.25%, while the BNB reserve has increased by 6.42%.

Binance witnesses a slow but steady volume

AMBCrypto’s examination of Binance’s trade volume over the last 30 days revealed that its recent performance had improved. The improvement was in comparison to the early days of October, accordin

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Author: Adewale Olarinde

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