Cryptocurrency exchange OKX has released its 25th proof of reserve, noting significant increases in assets for both users and the platform.
Asset Growth by Category
A snapshot of Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) assets taken on November 13 shows strong growth. User Bitcoin holdings increased by 1.87% compared to the last snapshot on October 8. Ethereum holdings increased by a significant 7.90% during the same period. Tether holdings increased by an impressive 15.37%.
Total Reserves and Transparency
OKX currently has reserve assets of $26.611 billion, up $1.883 billion month-on-month. OKX continues to provide regular proof of reserves as part of its commitment to transparency and user trust. The exchange uses Merkle tree technology to allow users to independently verify their holdings, ensuring reserves fully back customer assets.
Significance and Impact
The continued growth in reserves and user assets points to strong market activity and potentially increasing interest in digital assets, particularly stablecoins such as Bitcoin, Ethereum, and USDT. OKX reinforces its commitment to safeguarding user assets by providing regular and transparent proof of reserves, promoting trust in an industry that values accountability.
OKX's proof of reserves highlights a robust growth of assets and strengthens user confidence in the platform through regular and transparent reporting.
