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Crypto.com's Reserve Holdings Revealed: SHIB as Second Largest Asset

Crypto.com discloses its proof of reserves, highlighting significant allocations in SHIB, BTC, and ETH, while CRO's price experiences a notable decline.
Published on 2022-11-12

Overview of Crypto.com's Reserve Holdings

Crypto.com has released its proof of reserves, providing transparency into its asset allocations. The exchange holds over $2 billion in total reserves, with Shiba Inu (SHIB) emerging as the second-largest asset, valued at nearly $570 million. Bitcoin (BTC) dominates the portfolio with $900 million, representing 30% of the holdings, while Ethereum (ETH) follows with $500 million, accounting for over 17%.

Stablecoins such as USD Coin (USDC) and Tether (USDT) each constitute just over 5% of the reserves, demonstrating a balanced diversification strategy.

CRO Price Movement and Market Impact

The native token of Crypto.com, Cronos (CRO), has experienced a significant price drop, falling 13% over the past 24 hours to $0.08146. This decline follows a broader market sell-off, with CRO's price plummeting from a local high of $0.09423 to a low of $0.0784.

Technical indicators reflect bearish sentiment, as the daily 9 and 20 EMA lines have crossed downward, and the RSI has dipped into oversold territory. This volatility underscores the risks associated with investing in cryptocurrencies, emphasizing the importance of thorough research and due diligence.

Investors are advised to remain cautious, as market dynamics can shift rapidly, impacting asset valuations and portfolio performance.

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