Massive XRP, DOGE and SOL Reserve Spotted on OKX
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To foster transparency and trust with its customers, popular cryptocurrency exchange OKX share Its Proof of Reserve (PoR) showed large holdings of XRP, Dogecoin (DOGE), and Solana (SOL).

XRP, DOGE, SOL attract attention

According to data shared by OKX, the company’s XRP holdings are 327,872,491 units, which is much higher than the 321,519,909 units owned by users. The accumulation rate of his OKX balance and user balance is 102%.

A similar rise was seen in Dogecoin, the industry’s largest meme coin, which marked a reserve ratio of 101%. The user’s DOGE holdings will be 4,225,024,214 units and the actual Dogecoin held in OKX wallet will be 4,267,347,550 units.

Despite the network strain experienced by Solana, OKX has proven to its users that it can redeem all withdrawal requests, regardless of trends. The SOL reserve ratio was 104% and the exchange registered 5,297,256 SOL in the wallet to offset the users’ 5,104,503 SOL.

The ability to meet user withdrawal requests is now an important criterion for gaining a customer base. Sharing reserve reports from time to time has become standard for trading platforms that hope to forestall an FTX-like implosion due to a lack of accountability.

Binance demonstrates leadership beyond OKX

It is worth noting that Binance Exchange pioneered the release of reserve assets and still cherishes that tradition to this day. Similar to OKX, Binance also reported very robust Dogecoin, XRP, and Shiba Inu reserves when they released their Proof of Reserve (PoR) earlier this month.

The community is starting to value these transparency reports as competition in the broader cryptocurrency ecosystem increases overall. In the near future, regulators may require these reports as a key basis for guiding the industry.

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