Bybit’s March 18 Proof of Reserves Shows Bitcoin Holdings Down, Ethereum Slightly Higher
According to Bybit, its 30th Proof of Reserves report recorded about 53,000 Bitcoin in user holdings and roughly 525,000 Ethereum, compared with the previous snapshot on February 26.
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Summary
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Terms & Concepts
Proof of Reserves: A verification method showing whether a crypto platform holds enough assets to match customer balances.
Snapshot date: The specific date when asset balances are recorded for a reserve report.
Ethereum: A blockchain network that supports smart contracts (self-executing blockchain code) and related digital assets.