Bitcoin Exchange OKX Announces Sixteenth Proof of Reserve! Why is the Amount of BTC and ETH Decreasing? Here are the Details

In a recent announcement, leading cryptocurrency exchange OKX revealed the results of its sixteenth Proof of Reserve (POR) snapshot.

OKX's Sixteenth Proof of Reserve Reveals Changes in User Assets

The reserve snapshot provides insight into users' holdings on the platform, shedding light on changes since the last snapshot on January 25.

According to the latest Reserve data, significant fluctuations have been observed in users' holdings in various cryptocurrencies. Here are the key findings:

Bitcoin (BTC) Assets: Users' BTC holdings stand at 135,900, a decrease of 11,707 compared to the previous snapshot on January 25.

Ethereum (ETH) Assets: Data shows users' ETH holdings are 1.42 million, reflecting a decrease of 87,789 from the last snapshot.

USDT Assets: Users' USDT (Tether) holdings have increased significantly, with a total of 5.716 billion assets, marking a significant increase of 427 million since the last snapshot.

These findings provide valuable insight into the dynamic nature of cryptocurrency holdings among OKX users.

While there are decreases in BTC and ETH assets, the increase in USDT assets shows that investors have recently tended to sell their cryptocurrencies and switch to cash.

*This is not investment advice.