Bitget Releases July Reserve Proofs, BTC and ETH Reserve Rates at 454% and 171% Respectively

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Bitget Releases July Reserve Proofs, BTC and ETH Reserve Rates at 454% and 171% Respectively

Bitget2023/07/10 01:35

By:Bitget

Cryptocurrency trading platform Bitget has released its eighth Proof of Asset Reserves (snapshot taken on July 6 at 16:00 GMT), with BTC reserves at 454%, USDT reserves at 135%, ETH reserves at 171% and USDC reserves at 2604%. User BTC assets amounted to 2,311.23 coins, user ETH assets amounted to 1.12 million coins, and user USDT assets amounted to 346 million coins.

In previous news, blockchain analytics platform Nansen recently released a report on the changing landscape of CEX. According to the report, users need more transparency and protection from CEX to ensure the safety of their assets due to the multiple black swan events at the end of 2012. Among the mainstream centralized trading platforms, Bitget is one of only two platforms to make public the address of its protection fund wallet.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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In 2025, the stablecoin market shows strong signs of growth. Research indicates that the market cap of USD-pegged stablecoins has surged 46% year-over-year, with total trading volume reaching $27.6 trillion, surpassing the combined volume of Visa and Mastercard transactions in 2024. The average circulating supply is also up 28% from the previous year, reflecting sustained market demand. Once used primarily for crypto trading and DeFi collateral, stablecoins are now expanding into cross-border payments and real-world asset management, reinforcing their growing importance in the global financial system. More banks and enterprises are starting to issue their own stablecoins. Standard Chartered launched an HKD-backed stablecoin, and PayPal issued PYUSD. The CEO of Bank of America has expressed interest in launching a stablecoin once regulations permit (via CNBC). Fidelity is developing its own USD stablecoin, while JPMorgan Chase and Bank of America plan to follow suit when market conditions stabilize. Meanwhile, World Liberty Financial (backed by the Trump family) has introduced USD1, backed by assets such as government bonds and cash.

Bitget VIP•2025/04/25 06:05