CoinMarketCap adds a new feature “Proof-of-reserve tracker” to support a lot of famous crypto exchanges

CoinMarketCap is the price-tracking website for crypto assets, there are a lot of visitors to check the price and crypto news. They have announced to launch of a new feature Proof of Reserves (PoR) to support a lot of exchanges to indicate their transparency to cryptocurrency reserves through a verifiable auditing practice.

CoinMarketCap launched a new tool on its platform to update financial insights on exchanges. That’s called the “proof of reserves (PoR) tracker” to monitor liquidity transparency over a specified period of time.

According to the announcement, the tracker details the total assets of the company, and its affiliated public wallet addresses, along with the balances, current price, and values of the wallets.

CoinMarketCap’s Proof of Reserves includes:

🔹The Total Asset

🔹Public Wallet Address Ownership

🔹Balance, Price & Value of Public Wallets

🔹Updated Every 5 Minutes!

CoinMarketCap reported that the PoR tracker will update the data every 5 minutes, with on November 22, their tweeting instructions for users on how to explore usage.

ref. Digital Lawrence on Twitter 

This new feature will support all trading Exchanges including KuCoin, Bitfinex, OKX, Bybit, Crypto.com and Huobi, Changpeng "CZ" Zhao, CEO and co-founder of Binance, retweeted the news from CoinMarketCap with a link to Binance's page, which some in the crypto community on Twitter called a "great increase in transparency." 

Read more: cointelegraph.com // CoinMarketCap