A post by @WuBlockchain on X.
Binance User USDT Holdings Fall 7.95% in Latest Proof of Reserves
@WuBlockchain on X
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Binance's latest proof-of-reserves snapshot, dated October 31, shows user USDT holdings fell 7.95%, or 2,544,682,319 USDT, to 29,483,062,742 USDT, while user BTC holdings rose 0.52%, or 3,614 BTC, to 692,187 BTC. User ETH holdings declined 3.80%, or 144,217 ETH, to 3,654,919 ETH, and BNB holdings dropped 0.93%, or 401,669 BNB, to 42,638,276 BNB. The shift suggests users may be rotating out of stablecoins and ETH into BTC on the world's largest crypto exchange by volume, a pattern that can signal changing risk appetite or positioning ahead of market events. The divergence between rising BTC balances and falling USDT, ETH, and BNB balances is notable because proof-of-reserves data is closely watched as an indicator of user confidence and exchange health following past industry collapses. Market watchers will be looking at whether the next snapshot confirms continued USDT outflows or a reversal, and whether broader exchange reserve trends align with on-chain stablecoin flows.
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