Binance Addresses Market Concerns Over On-Chain Data Anomalies
Binance recently faced market concerns over on-chain data anomalies reported by third-party trackers Coinglass and DefiLlama.
The exchange responded to these claims, noting similar past discrepancies with DefiLlama. It stated that such events are temporary and usually resolved within 24-48 hours.
Binance encouraged users to verify their holdings directly through its proof-of-reserves page and suggested checking total balances on CoinMarketCap for added assurance.
The exchange pointed out that its assets, reportedly valued at over $100 billion, are subject to scrutiny due to the industry's ongoing transparency concerns. Binance has proposed an annual 'Withdrawal Day' to test asset authenticity, but skeptics question whether self-reported proofs suffice.