Binance user assets surpass $100 billion, recent BNB performance astonishing

Binance announced the Proof of Reserves (POR) and the total value of user assets entrusted to Binance's custody surpassed $100 billion for the first time in early March. In addition to strong capital inflows, the rise in digital asset prices is also a significant factor. The recent trend of BNB has been remarkable as well, reaching as high as $639 last week.

Binance User Assets Surpass $100 Billion

Binance has announced the Proof of Reserves (POR) disclosure. Since November 2022, Binance has been disclosing the total user asset holdings through the POR system. In early March, the total value of user assets held in custody by Binance surpassed $100 billion for the first time. Apart from strong fund inflows, the increase in digital asset prices has also played a vital role.

In the report, Binance stated that they hold all user funds in a 1:1 ratio, along with additional reserves. Anyone can verify Binance's reserves using the POR system. The POR supports 31 digital assets and utilizes innovative solutions based on zero-knowledge encryption, demonstrating Binance's commitment to transparency in user funds.

Steady Growth in BNB Price

BNB has shown significant growth recently, rising from a low of $356 on 3/6 to a peak of $632. Binance's new coin mining activity on Lauchpool continues, and BNB Chain has announced an alliance plan for airdrops. Although BNB has fallen in line with the overall cryptocurrency market in the past two days, the historical high for BNB is no longer far off.

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