U.Today - Leading the crypto industry as the second largest exchange, as recognized by , OKX has provided an insight into its considerable reserves of widely known cryptocurrencies, in particular XRP and . This recent release of a emphasizes OKX's robust position on the crypto market.
The report discloses that OKX currently holds a substantial 138,584 BTC in its wallets, reflecting a valuation of approximately $3.78 billion at present market rates. Impressively, these reserves translate to a coverage of user assets amounting to 102%, underscoring the exchange's commitment to security.
This same level of coverage extends to user assets on OKX. The exchange's hot wallets contain a total of 176.162 million tokens, equivalent to about $92.89 million based on the prevailing prices. This positioning places XRP as the fifth-largest asset on OKX in terms of reserves, following Bitcoin, , and stablecoins USDT and USDC.
With an aggregate sum of $10.4 billion in total user assets, OKX solidifies its stance as a prominent player in the crypto domain. While securing second place in terms of assets, it trails behind the largest player, , which is estimated to hold about $59.827 billion.
The disclosure of such substantial reserves underscores OKX's role in facilitating crypto trading globally. However, it is important to remember a key principle in this market: "Not your keys, not your crypto," emphasizing the significance of individual control over one's assets in this dynamic industry.