- Binance saw an increase in net positions in its latest Proof-of-Reserve.
- BNB continued to trend upward at the time of writing.
The 15th Proof of reserve released by Binance [BNB] for February, user and currency balances showed an increase compared to January.
Bitcoin’s net customer balance was reportedly over 594.6 million, while the exchange’s net balance at the time of writing was around 609.4 million.
A comparison with the previous month showed that the net customer and stock exchange balance amounted to 575.8 million and 597.6 million respectively.
Furthermore, an analysis of Ethereum’s [ETH] The balance showed a net customer and exchange balance of more than 4.1 million and 4.3 million in February, and approximately 4 million and 4.2 million in January.
The recent Proof-of-Reserve (POR) suggested a trend of users transferring more and more key assets to the exchange. Notably, this marks the 15th Proof-of-Reserve released by the exchange since its inception.
Binance continues to dominate the stock market rankings
An extensive analysis of the exchanges on CoinMarketCap underlined Binance’s continued dominance in the cryptocurrency market.
An examination of trading volume over the past 24 hours showed Binance as the clear leader, with more than $12 billion.
In stark contrast, the second largest exchange, Coinbase, recorded volume of around $2 billion during the same period.
The data also showed that Binance has attracted a significantly higher number of visits than its counterparts over the past seven days.
At the time of writing, the platform recorded more than 14 million visits. The closest competitor in the top ten fairs managed to achieve approximately 5 million visits.
How much are 1,10,100 BNBs worth today?
BNB’s bullish trend is strengthening
AMBCrypto’s examination of BNB’s daily timeframe chart showed consistent upward trends in recent days.
On February 7, the chart showed an increase of 1.52%, bringing BNB’s trading value to approximately $307. At the time of writing, BNB continued to rise by 1.9% and traded around $313.
These recent upward moves have also affected the Relative Strength Index (RSI), which at the time of writing was near 60, indicating a strong bull trend.
Source: trading view