Binance User Bitcoin Holdings Rise 16,349 BTC as ETH, USDT Balances Fall

Bitcoin was the only one of three major crypto assets covered in Binance’s latest Proof of Reserves figures to record an increase in user holdings. Meanwhile, Ethereum and USDT balances fell from the previous month.

The exchange’s 45th Proof of Reserves report showed customer Bitcoin balances at roughly 657,000 BTC as of Aug. 1. That represented a 2.55% increase from the July 1 snapshot, with holdings growing by 16,349 BTC.

Ethereum moved in the opposite direction. User holdings declined by 105,154 ETH, or 2.57%, leaving approximately 3.98 million ETH on the Aug. 1 snapshot.

USDT balances recorded the same percentage decline. Binance reported user holdings of about 32.9 billion USDT, down 2.57% from the previous month, or roughly 870 million USDT.

Source: Binance