- 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, according to data from CoinGecko.
Also, despite a sluggish start to October, the month reached its peak trade volume, surpassing $19.4 million on 24 October. At the time of this writing, the trade volume was over $9 billion.
BNB reclaims the fourth spot
According to data from CoinMarketCap, XRP briefly overtook BNB as the fourth-highest market capitalization asset. However, as of the latest data, BNB had reclaimed its position with a market capitalization exceeding $37 million.
How much are 1,10,100 BNBs worth today?
This recovery occurred despite a slight decline in value at the end of the trading session on the 7th of November. At the end of the trading session, it had experienced a loss of over 3% and traded around $246.
Source: TradingView
As of this writing, BNB was trading at around $245, reflecting a modest loss of less than 1% in value. Additionally, the Moving Average Convergence Divergence (MACD) indicator suggested that BNB remained in a strong bullish trend.
