Lookonchain recently highlighted the large number of Shiba Inu (SHIB) coins stored on Gate.io, a well-known cryptocurrency trading platform, in light of the ongoing bankruptcy speculation.

The tweet showed the latest resources that the exchange owned, with a total amount of $1.44 billion allocated to six wallets. Noteworthy among these assets was Shiba Inu, which held 6 trillion SHIB tokens with an estimated worth of $52 million.

Concerns have been raised both by Gate.io's users and the wider crypto community due to reports of the exchange's financial instability. These worries have been exacerbated by the significant amount of SHIB tokens held in its asset portfolio, with people wondering what effect this could have on the token's value.

Gate.io's potential bankruptcy has been reported shortly after Hotbit decided to discontinue its central exchange operations. Investors with Shiba Inu tokens have been cautioned to move their funds from the exchange prior to June 21.

Shiba Inu Commands Sizable Holdings on Leading Exchanges

Exchanges that are highly ranked have substantial amounts of SHIB due to the large number of Shiba Inu investors on their websites. This year, we reported the data about the amount of Shiba Inu tokens held by Binance. The analysis indicated that there is more than ten times more SHIB on Binance than Gate.io.

Binance has been reported to possess 78.5 trillion SHIB tokens, valued at approximately $663 million, according to the updated Proof-of-Reserves report.

We also obtained an intriguing article concerning the amount of Shiba Inu held on Crypto.com. The report showed that SHIB tokens accounted for a greater fraction on the platform than Ethereum (ETH) coins. The exchange holds over $558 million worth of SHIBs. Additionally, Uphold's Shiba Inu balance is at a more humble amount of 921 billion SHIBs.

HYIPer.net » SHIB tokens' holdings by Gate.io amid bankruptcy speculation