Top 5 crypto exchanges by volume of confirmed reserves in October 2024

In 2022, the digital market was rocked by the collapse of one of the largest trading platforms, FTX, which led to a chain of bankruptcies of other well-known companies. Investor confidence in the crypto market has been undermined. To counteract the impact of this high-profile event, exchanges began publicly confirming the reserves of assets they hold on behalf of their clients.

The Proof-of-Reserved procedure involves searching for cryptographic evidence of funds, verifying ownership of CEX wallets, and audits by independent experts. This allows users to assess the financial position of exchanges and ensure the safety of assets.

Since 2023, crypto platforms have been publishing monthly reserve reports. Data on CEX’s current financial position can also be tracked in real time on industry monitoring sites.

The exchange stores most of its funds in Bitcoin – $38.49 billion (35.6%). Another $52.74 billion (48.8%) is distributed among the largest coins – Ethereum, Binance Coin and TRON. In assets Binance There are also cryptocurrencies from the top 100 by capitalization – Solana, Arbitrum, Optimism, Avalanche. In total, Binance’s portfolio contains 21 of the most stable and promising coins.

The second place in terms of confirmed reserves is occupied by OKX. According to monitoring data, in October 2024, the exchange’s wallets held $18.63 billion worth of cryptocurrencies. Of these, $18.51 billion are net assets.

More than half of customer funds are stored in Ethereum – $9.33 billion (50.05%). Bitcoin contains $7.7 billion (41.3%). The remaining reserves are distributed among the 13 most capitalized assets.

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Third place in the ranking of crypto exchanges with the largest volume of confirmed reserves belongs to Bitfinex. This exchange showed the provision of placed capital at $18.42 billion. Net assets amount to $14.47 billion.

Bitfinex follows a conservative investment strategy. More than 98% of client funds are held in the two largest cryptocurrencies – Bitcoin and Ethereum. The rest of the capital is distributed among the top coins – TRON, Solana, Avalanche, Polygon and others. In total, the portfolio includes 20 digital currencies.

The top 5 CEXs with the largest volume of confirmed funds also included:

• Robinhood. The digital wallets of the exchange store $13.24 billion worth of cryptocurrency. This is completely pure collateral.
• Bybit. The platform’s net assets are estimated at $10.03 billion.

Previously published on Crypto.ru cryptocurrency infographics with the best and worst returns for September 2024.

Editor-in-Chief

Vlad Krylov
journalist and crypto market expert