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HomeCrypto NewsShiba InuBinance holds Reserves of Over 87 Trillion Shiba Inu

Binance holds Reserves of Over 87 Trillion Shiba Inu

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According to data from CoinMarketCap, seven wallets had more than 87 trillion SHIB (over $816 million) in Binance reserves. However, the wallet’s balance could fluctuate over time.

There are around 56.9 trillion SHIB in the biggest wallet. It’s noteworthy that the information from CoinMarketCap only displays wallets with holdings worth more than $100,000.

Therefore, the overall Shiba Inu holdings on the exchange will be greater than this sum. 

By any standard, the overall SHIB value reflects a remarkable achievement of 1.2% of Binance’s total crypto holdings.

As previously reported, a competitor cryptocurrency exchange, Crypto.com, owns over $558 million in Shiba Inu. 

According to the study, the exchange holds more SHIB than Ethereum, accounting for approximately 20% of the overall reserves. 

As a result, Binance holds more SHIB as a reserve than any other exchange.

Vitalik Buterin was Surprised by these Statistics

Vitalik Buterin, the co-founder of Ethereum, claimed that, although amazed by SHIB’s market worth, he could not understand how someone could hold $10 million in Shiba Inu, seemingly taking a dig at the meme coin.

Even though the price of crypto assets has fallen this year, the outstanding value of Shiba Inu held by crypto exchanges suggests that the meme coin is still highly desired by retail investors. 

According to CoinGecko data, SHIB is trading 89.2% below its all-time high of $0.00008616 in October of last year.

The meme coin has more utility than ever, even though it might not provide holders with the millions of dollars in percentage returns it did last year. 

Surprisingly, this year the project released a card collection game. It is also developing its metaverse and working on a Layer 2 solution.

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