OKX Releases Ninth Reserve Certificate
OKX Exchange has published its ninth reserve certificate, providing valuable insights into its users’ asset holdings. According to the snapshot taken on July 20th, the total value of user assets on the exchange has soared to a staggering $11.3 billion, showcasing a strong upward trajectory in users’ confidence and participation in the crypto market.
📢 Hot off the press 📢
We’re proud to publish our July 2023 #ProofOfReserves report.
This is our 9th consecutive monthly report showcasing ≥100% reserve ratios for 22 assets, including $BTC, $ETH, $USDT, and more.
Don’t trust, verify: https://t.co/NofJe7XPvO pic.twitter.com/TxORYyk3lw
— OKX (@okx) July 26, 2023
Reserve Report
The reserve certificate report reveals significant fluctuations in various digital assets within the OKX ecosystem over the past month. Notably, the total holdings have experienced an impressive increase of 1899 BTC and approximately 60,000 ETH, signalling growing interest in Bitcoin and Ethereum trading on the platform.
Conversely, the report shows a decrease in the amount of USDT (Tether), amounting to a reduction of 117 million USDT during the same period. However, this reduction was offset by a notable increase of 36.15 million USDC (USD Coin), indicating a shifting preference towards stablecoins for users seeking price stability amidst market volatility.
Boosting User Confidence
The release of the reserve certificate demonstrates OKX Exchange’s commitment to transparency and accountability, assuring its users of the safekeeping and proper management of their assets. By regularly providing these snapshots, the exchange aims to foster trust and reliability in an industry often plagued by concerns about security and financial soundness.
As the cryptocurrency market continues to gain momentum, OKX Exchange’s user assets have grown significantly, reinforcing its position as a trusted platform for traders and investors worldwide. The recent surge in asset value, coupled with the strategic addition of 36.15 million USDC, further solidifies the exchange’s role in facilitating seamless and secure digital asset trading experiences. The release of OKX Exchange’s ninth reserve certificate signals a positive outlook for the platform and the broader crypto market. As the user base and total asset value continue to climb, OKX Exchange remains committed to upholding the highest standards of financial transparency and security, inspiring trust among its global community of traders and investors.
