• About Us
  • Jobs
  • Contact
  • Login
  • Register
Crypto Mufasa
  • General News
  • Beginner Guides
  • Bitcoin News
  • Ethereum News
  • Altcoin News
  • NFT News
  • Web Stories
  • Work With Us
No Result
View All Result
  • General News
  • Beginner Guides
  • Bitcoin News
  • Ethereum News
  • Altcoin News
  • NFT News
  • Web Stories
  • Work With Us
No Result
View All Result
Crypto Mufasa
No Result
View All Result
ADVERTISEMENT
Home Crypto Exchanges

India’s WazirX Releases Proof Of Reserves, Shiba Inu (SHIB) Token Has The Highest Holding

Hania by Hania
January 12, 2023
in Crypto Exchanges
Reading Time: 3 mins read
A A
0
India’s WazirX Releases Proof Of Reserves, Shiba Inu (SHIB) token has the highest holding
Tweet

In Brief:

  • WazirX Declares Reserves Of $286 Million
  • Related articles
  • Crypto.com Is One Step Closer To Obtaining An Operating License In Dubai 
  • UK Binance Halts GBP Deposits And Withdrawals
  • Indian Crypto Exchange Begins To Release PoR

The largest cryptocurrency exchange in India, WazirX, announced on Wednesday that it had published its proof-of-reserves (PoR) and that it has a reserves-to-liability ratio of more than 1:1. Shiba Inu (SHIB) coin is the largest holding, valued at about $54 million, according to WazirX, which has reserves worth $286.10 million.

WazirX Declares Reserves Of $286 Million

Bitcoin exchange On January 11, WazirX tweeted that company has disclosed their proof-of-reserves, showing total holdings of USDT 286.10 million. The cryptocurrency exchange has made its wallet addresses, list of exchangers, and proof-of-reserves report public in an effort to boost transparency and trust.

Related articles

Crypto.com Will Be Laying Off 20% Of Its Workforce In 2023

Crypto.com Is One Step Closer To Obtaining An Operating License In Dubai 

March 20, 2023
UK Binance Halts GBP Deposits And Withdrawals

UK Binance Halts GBP Deposits And Withdrawals

March 15, 2023

“At WazirX, the safety and security of customer funds come first. In light of this, we have made our wallet addresses, exchange list, and independent #ProofOfReserves report public.

(1/4)

At WazirX, the security and safety of user funds are our top priority 🔐

Keeping this in mind, we have made our wallet addresses, list of exchanges, & independent #ProofOfReserves report public.

— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) January 11, 2023

The report claims that WazirX has reserves worth $286.10 million, with crypto assets totalling $259.65 million on the exchange and $26.45 million on the blockchain. 6.09 trillion Shiba Inu (SHIB), 1,366.54 bitcoins (BTC), 20,072.54 ether (ETH), 303.32 million doge, and 16.53 million matic are the top 5 holding reserves.

Additionally, the native token WRX reserves of the cryptocurrency exchange total 95.67 million, or around $14 million.

India’s WazirX Releases Proof Of Reserves, Shiba Inu (SHIB) token has the highest holding

WazirX stated that it had enough reserve funds available to meet users’ needs in unforeseen circumstances after publishing its PoR report. Additionally, the reserve-to-liability ratio at the cryptocurrency exchange is greater than 1. By reserves, WazirX is now India’s biggest cryptocurrency exchange.

WazirX previously committed to publishing its proof-of-reserves.

According to the report, the government’s decision to implement a crypto tax and the CBDC caused a 76% decline in trade volume from $43 billion in November 2021 to $10 billion in 2022.

Indian Crypto Exchange Begins To Release PoR

Crypto exchange CoinDCX released its proof-of-reserves report in December 2022  with a total holding of $143.99 million. SHIB, MATIC, and DOGE were also among the top 5 holdings, according to the report. Therefore, it suggests that Indian consumers prefer these tokens the most.

In anticipation of the Shibarium blockchain’s upcoming debut, the price of SHIB is currently $0.00000896, up 2% in the last 24 hours.

Tags: Bitcoin exchangeproof-of-reserves (PoR)shib
Tweet47Share76ShareSendPin17ShareSend
ADVERTISEMENT
Hania

Hania

Hania is a 30-year-old blogger who used to be a teacher before entering the world of writing. She is originally from India and has been writing blogs on various topics for 2 years now. Hania is particularly interested in exploring the intersections of finance, technology, and cryptocurrency. Her experience as a teacher has given her unique insights into the ways in which digital media can be used to facilitate learning and engagement. Through her writing, Hania hopes to share her knowledge and learning of crypto industry with everyone.

Related Posts

Crypto.com Will Be Laying Off 20% Of Its Workforce In 2023
Crypto Exchanges

Crypto.com Is One Step Closer To Obtaining An Operating License In Dubai 

March 20, 2023
UK Binance Halts GBP Deposits And Withdrawals
Crypto Exchanges

UK Binance Halts GBP Deposits And Withdrawals

March 15, 2023
Coinbase Wallets Will No Longer Support XRP, BCH, XLM And ETC
Crypto Exchanges

Coinbase Discontinued Accepting Trading For BUSD

March 14, 2023
OkCoin Exchange USD Deposits Suspended
Crypto Exchanges

OkCoin Exchange USD Deposits Suspended

March 13, 2023
Coinbase Wallets Will No Longer Support XRP, BCH, XLM And ETC
Crypto Exchanges

One River Digital Asset Management Is Purchased By Coinbase For An Undisclosed Amount

March 6, 2023
CoinEx Crypto Exchange Is Being Sued By The State Of New York For Failing To Register
Crypto Exchanges

CoinEx Crypto Exchange Is Being Sued By The State Of New York For Failing To Register

February 23, 2023
Huobi Set to Launch Hong Kong Licensed Local Exchange, Expanding Global Footprint
Crypto Exchanges

Huobi Set to Launch Hong Kong Licensed Local Exchange, Expanding Global Footprint

February 21, 2023
FTX Japan Crypto Exchange Will Start Accepting Withdrawals From Feb.21
Crypto Exchanges

FTX Japan Crypto Exchange Will Start Accepting Withdrawals From Feb.21

February 20, 2023
Coinbase Wallets Will No Longer Support XRP, BCH, XLM And ETC
Crypto Exchanges

Will Coinbase Profits Drop With Regulatory Challenges And Crypto Staking?

February 20, 2023
Load More
  • Trending
  • Comments
  • Latest
OKX: An all-in-one trading platform that supports cryptos, derivatives, staking, and lending

OKX: An All-in-one Trading Platform That Supports Cryptos, Derivatives, Staking, And Lending

December 27, 2022
Airdrop Scam Alert: Arbitrum Community Warns Against Fake Arbitrum Airdrops

Scam Alert: This Email Can Drain Your Crypto and NFT Wallet

January 21, 2023
Crypto Airdrops: Are They Really Safe? "The Ultimate Guide"

 A Step-By-Step Guide To Understand Arbitrum’s (ARB) Token Airdrop

March 17, 2023
HappyMiner

Earn Passive Income Cloud Mining With HappyMiner

March 19, 2023
Bitcoin ATM Rise Or Fall: In Less Than 60 Days, More Than 400 Machines Went Offline

Bitcoin ATM: How to use them?

1
All You Need To Know about Defi (Decentralized Finance)

All You Need To Know About DeFi (Decentralized Finance)

1
Robinhood enables the Web3 Wallet beta accessible to 10,000 users

Robinhood enables the Web3 Wallet beta accessible to 10,000 users

1
Mastercard Introduces a New Tool to Prevent Crypto Fraud

Mastercard Introduces a New Tool to Prevent Crypto Fraud

1
Crypto.com Will Be Laying Off 20% Of Its Workforce In 2023

Crypto.com Is One Step Closer To Obtaining An Operating License In Dubai 

March 20, 2023
Airdrop Scam Alert: Arbitrum Community Warns Against Fake Arbitrum Airdrops

Airdrop Scam Alert: Arbitrum Community Warns Against Fake Arbitrum Airdrops

March 20, 2023
Bitcoin ATMs Manufacturer Has Shut Down Its Cloud Service Following The Hacking Of Its Users 

Bitcoin ATMs Manufacturer Has Shut Down Its Cloud Service Following The Hacking Of Its Users 

March 20, 2023
Bitcoin’s Best January In 10 Years, With A 39.6% Gain For The Month

Bitcoin Hits $28k As Unpredictability Surrounds Banks

March 20, 2023
Crypto Mufasa

© 2022-2023 CryptoMufasa.com
All Rights Reserved!

Navigate Site

  • Contact
  • Terms Of Service
  • Privacy Policy
  • Crypto Prices
  • Crypto Exchanges
  • Work With Us

Follow Us

No Result
View All Result
  • General News
  • Beginner Guides
  • Bitcoin News
  • Ethereum News
  • Altcoin News
  • NFT News
  • Web Stories
  • Work With Us

© 2022-2023 CryptoMufasa.com
All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In