In a recent announcement, OKX revealed its thirteenth reserve certificate, displaying an astounding total user asset worth of $14.5 billion as of the Nov. 23 snapshot.
The report’s most notable feature centres on the exchange’s guarantee—which stands at an incredible 104% coverage—that every XRP token owned by consumers is solidly backed by its own reserves. This guarantee includes a hefty 219,171,917 XRP tokens, which is equivalent to an astounding $134.8 million in value.
https://x.com/okx/status/1729704259162083762?s=20
When this data is compared to the results from October, an intriguing trend emerges. Over the course of a month, OKX added nine million more XRP tokens to its reserves than user holdings, which climbed by just 7.3 million tokens. This suggests that the exchange is taking aggressive steps to increase reserves over and beyond the organic increase in customer holdings.
The research also highlights significant changes in other digital assets, such as a spike in 3,008 BTC and around 60,160 ETH holdings. In the stablecoin space, USDT had a 280 million boost in OKX Wallet assets, but USDC saw a 1.73 million decline.
Importantly, OKX has committed to a 104% reserve ratio for XRP, which is higher than the 103% reserve ratios maintained by Ethereum (ETH) and Bitcoin (BTC) on the platform.
Although OKX is notable for having large holdings of XRP, consumers must recognise that exchanges are centralised. As the saying goes, “not your keys, not your crypto,” which highlights the necessity for investors to be cautious and prudent.
