Shiba Inu: How much SHIB do Exchanges have in their Reserves?

Paigambar Mohan Raj
Source: Analytics Insight

Popular ticker platform, CoinMarketCap, has published detailed information on the reserves held by exchanges. To the community’s surprise, some exchanges even hold Shiba Inu (SHIB) in their reserves. SHIB is immensely popular among whales and even retail investors. The project has one of the most loyal and die-hard fan bases. But being an exchange means that the number of tokens in reserve has to be big. In SHIB’s case, the exchanges hold trillions of canine-themed crypto tokens.

Now has already revealed that 20% of its reserves are in SHIB. With that said, let’s take a look at…

Shiba Inu reserves among exchanges

Binance: Binance holds the highest amount of SHIB in its reserves among exchanges. The world’s largest exchange holds 56.92 trillion SHIB tokens, which is more than 10% of its supply, worth $518,579,685.90. SHIB trading volume is also the highest, going over $38.5 million.  

Source: CoinMarketCap

KuCoin: KuCoin holds around 4.23 trillion Shiba Inu tokens, worth around $38.5 million. The exchange is the fifth-largest SHIB market, and the token’s trading volume on the platform is $2.92 million.

Source: CoinMarketCap

Huobi: Huobi holds the least amount of SHIB among the major exchanges. Justin Sun‘s exchange holds 1.43 trillion SHIB, worth $12.9 million. The trading volume on Huobi is also on the lower end of the spectrum, at $570,000.

Source: CoinMarketCap

Other major exchanges, such as Coinbase and Kraken, do not hold any Shiba Inu tokens in their reserves.

SHIB’s price, on the other hand, is not showing any signs of recovery. At press time, the popular canine-themed crypto was trading at $0.00000910, up by 1.3% in the last 24 hours. The token is down by 8.6% over the last 30 days and down by 89.4% from its all-time high of $0.00008616.

Many hope that the Shibarium launch will bring in some positive movements for the token’s price. However, we do not have an exact date for the highly anticipated launch.