Shiba Inu makes up biggest chunk of reserves on Indian Crypto exchange WazirX Shiba ShibArmy SHIBCommunity SHIB $SHIB ProofOfReserves
, a platform that tracks crypto assets, with the necessary information and details required to publish the report.WazirX is India's largest crypto exchange by volume and, as of now, by reserves. In total, it has reserves worth $286 million.
WazirX reserves feature a significant quantity of Shiba Inu, making up 19.07% of the exchange's holdings. A total of 6.09 trillion SHIB tokens valued at $54.56 million sit in WazirX's reserve, which is the largest holding by the crypto exchange.This is followed by Ethereum and Bitcoin, which make up 8.28% and 9.38%, respectively, of the exchange's reserves.It holds 1,356 BTC valued at $23.69 million and 20,057 ETH valued at $26.6 million. Dogecoin makes up 8.
In the wake of the FTX collapse following a significant liquidity crisis, several crypto exchanges published their proof of reserves in a bid to promote transparency.In its end-of-year report, WazirX indicated that 27% of first-time crypto buyers on the platform bought Shiba Inu, while men between the ages of 26 and 40 traded 50% of all SHIB tokens"moved" on the platform. Also, Shiba Inu was among the top tokens traded on the crypto exchange.
SHIB ranks as the 16th largest cryptocurrency, with a market cap of $4.9 billion, according to data from
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