- Binance has seen an increase in net reserves in its latest reserve proof.
- BNB continued its upward trend at press time.
The 15th Proof of Reserves released by Binance (BNB) in February showed an increase in users and exchange balances compared to January.
At the time of this writing, Bitcoin’s customer net balance was reported to be over 594.6 million, while the exchange’s net balance was approximately $609.4 million.
Compared to last month, customer net balance recorded 575.8 million won and exchange net balance recorded 597.6 million won.
Moreover, as a result of analyzing the Ethereum (ETH) balance, the net balance of customers and exchanges was found to be about 4.1 million to 4.3 million in February and about 4 million to 4.2 million in January.
Recently, Proof-of-Reserve (POR) has shown a trend of users transferring more major assets to exchanges. Notably, this is the 15th proof of holdings announced by the exchange since its founding.
Binance continues to dominate the exchange rankings.
CoinMarketCap’s comprehensive analysis of the exchange highlighted Binance’s continued dominance in the cryptocurrency market.
Examining trading volume over the last 24 hours, Binance emerges as the clear leader, boasting a trading volume of over $12 billion.
In contrast, Coinbase, the second largest exchange, recorded trading volume of about $2 billion during the same period.
Data also shows that Binance has received significantly more visits than any other vendor over the past seven days.
As of this writing, the platform has received over 14 million visits. Among the top 10 exchanges, the closest competitor managed around 5 million visits.
How much is 1,10,100 BNB worth today?
BNB’s bullish trend strengthens
AMBCrypto’s examination of BNB’s daily timeframe charts shows a consistent upward trend over the past few days.
The February 7 chart shows an increase of 1.52%, bringing the trading value of BNB to around $307. As of this writing, BNB continues to increase by 1.9%, trading at around $313.
This recent upward movement has also impacted the Relative Strength Index (RSI), which is close to 60 at the time of writing, indicating a strong bullish trend.
Source: Trading View