Crypto.com is Relying on Shibu: Proof of reserves 
Crypto.com is Relying on Shibu: Proof of reserves 

Crypto.com is Relying on Shiba Inu : Proof of reserves 

The cryptocurrency exchange platform, Binance’s appealed for “proof of reserves” to all the rival companies. This had been taken into consideration by the platform crypto.com. This proof of stake shows the total amount of crypto assets with the company.

The proof of reserves also shows the total crypto investments and storage of these digital assets held at the crypto exchange platforms and crypto exchange company crypto.com has announced its primary assets reports with a third-party company audit.

 

Crypto.com is Relying on Shiba Inu : Proof of reserves 
source : coindesk.com

The platform crypto.com has to announce, This move helps the platform to be transparent on the working of the platform after the recent collapse of the FTX platform. The company behind crypto.com completed this third-party analysis with the help of a third-party company, Nansen, which is a blockchain analysis company.

The company, Nansen has created a dashboard for crypto.com in which they plotted all the digital investments and cryptocurrency assets of the company which comprises $3 billion of reserves and other assets of the platform itself and all the retail customers on the platform. 

These statics shows that crypto.com has been heavily relying on the investment option of Shiba Inu (SHIB), a digital asset that was made with the help of Ethereum technology but it was just made out of jokes of dodge coin.

The dogecoin coins were also made in the environment of crypto hype of other cryptocurrencies like bitcoins or Ethereum. The new CEO of Twitter Elon musk showed his trust and will to support the dodge coin. So, it was able to see a boost in dogecoin prices in recent years.

In the wake of the hype of dogecoin, the Shiba also witnessed teh hype in recent years and the Shiba was able to witness the hike in its prices extensively in recent years. The Shiba is still considered as the violated crypto assets and is considered to be traded mostly for the fast profits option in the crypto market. 

Crypto.com is Relying on Shibu: Proof of reserves 
source : coinmarketcap.com

As the chart shows crypto.com has invested around 20% of its total investments by crypto.com, which accounts for approximately roughly $558 million, out of the total assets of $2.88 billion of crypto.com. The company holds the largest investments in bitcoins with $872 million. The reason, given by the company for the major stakes in the Shiba is that the platform holds the customer’s asset balances in the promotion of 1:1. In this proportion the platform deepens its total customer acquisition with the platform.

Although the cryptocurrency Shiba is always in the rumors, Shiba is considered one of the most popular cryptocurrencies on social media. Shibas holds around 3.6 million followers on Twitter with a total market capitalization of $5.74 billion along with a trading volume of $347.9 million in the recent 24 hours of the market.