Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
Proof of Reserves
OKX Releases Second Proof of Reserves Report While Promising Monthly Updates
Seychelles-based crypto exchange OKX published its second proof-of-reserves (PoR) on Thursday, showing that user assets for the top-3 cryptocurrencies are fully-backed. The exchange promised to publish subsequent PoR reports on roughly the 22nd day of each month from today onwards. Committing to PoR In a press release from OKX, the company provided a new tool allowing users to self-verify its reserves using open-source tools. The tool lets anyone examine the results of OKX’s proof of reserves audits at different points…
2 years ago
Binance Releases its Proof of Reserves — But is it Enough?
Binance released its highly anticipated proof of reserves (PoR) on Friday, providing blockchain-based evidence for the Bitcoin on its books. However, many in the crypto community question Binance’s approach. Also, they aren’t fully sure they have the transparency they’re looking for. The Move to Proof of Reserves As Binance explained in its announcement, the exchange’s transparency system will add multiple tokens and networks within the next two weeks. For now, it solely validates its Bitcoin holdings. The company’s initial audit…
3 years ago