Binance’s Ethereum holdings dips by almost 10% in latest proof of reserves

Binance has published its latest Proof of Reserves report, showing mixed results across major cryptocurrencies.

The exchange’s Ethereum holdings fell by nearly 10% between July and August snapshots, while Bitcoin reserves grew modestly. On the other hand, USDT maintained stable growth patterns during the same period.

Ethereum reserves face largest decline among major assets

The August report reveals Ethereum suffered the biggest percentage drop in Binance’s reserves. Holdings decreased from 5,051,997 ETH to 4,555,014 ETH between snapshots. This is a drop of 496,984 tokens over the one-month period.

Customer net balances for ETH now total 4,555,013.724 tokens. Binance maintains 4,585,489.832 Ethereum across its total reserves. The exchange splits these holdings between its main exchange balance and third-party custody solutions.

Exchange balances account for 4,247,127.566 ETH of the total reserves. Third-party custody services hold an additional 338,362.266 tokens. The current ETH ratio stands at 100.67% for customer protection.

Despite the monthly decline, Binance continues operating above full reserve requirements. The exchange maintains more ETH than customer deposits require. This buffer provides security for user funds during market fluctuations.

The drop comes during a period of mixed performance across crypto markets. While Bitcoin and USDT holdings grew, Ethereum faced selling pressure. Trading volumes and market dynamics influenced the reserve changes throughout July.

Bitcoin and USDT reserves show positive momentum

Bitcoin holdings moved in the opposite direction to Ethereum during August. Customer BTC balances increased from 573,997 to 591,164 tokens. The growth of 17,167 BTC equals a 2.99% rise month-over-month.

Binance now holds 608,639.998 BTC across all its reserve systems. The exchange maintains 582,539.624 Bitcoin in direct exchange balances. Third-party custody services store another 26,100.374 BTC for additional security.

The BTC ratio reached 102.96% for customer protection levels. This means Binance holds more Bitcoin than customer deposits require.

USDT reserves also posted gains during the same timeframe. Holdings climbed from 29,596,544,740 to 29,855,027,846 tokens. The increase of 258,483,106 USDT equals 0.87% growth.

Total USDT reserves now reach 30,533,445,782.942 tokens across the platform. Exchange balances contain 29,895,718,218.455 USDT of this amount. Third-party custody holds 637,727,564.487 tokens as backup reserves.

The USDT ratio stands at 102.27% for customer fund protection.

BNB token also gained ground with 150,257 additional tokens. Holdings rose from 39,642,367 to 39,792,624 BNB during August.

Both Bitcoin and stablecoin growth offset the Ethereum decline. The mixed results reflect different market pressures on various crypto assets.

Altcoins display varied performance across reserves

Beyond the major cryptocurrencies, Binance’s August report covers multiple altcoin reserves. USDC shows the highest ratio at 156.12% with customer balances of 5,222,594,860.954 tokens. Total USDC reserves reach 8,153,521,010.339 across exchange and custody systems.

Several meme coins posted strong ratios during the reporting period. DOGE maintains 110.03% coverage with 16,058,067,311.71 customer tokens. SHIB follows at 100.71% ratio covering 55,329,259,811,126.42 customer balances.

Litecoin came in at a 111.86% ratio for 7,475,024.23 customer tokens. The exchange holds 8,361,585.126 LTC total across its systems. Most LTC stays in exchange balances rather than third-party custody.

Several tokens maintain exactly balanced ratios near 100%. SOL achieves perfect 100.00% coverage for 22,433,596.408 customer tokens. LINK holdings come in at 100.11% while ARB is at 100.35% coverage levels.

Layer-one blockchain tokens show mixed results in the reserves. TUSD reaches 109.28% coverage with 13,358,773.865 customer balances. It maintains POL at a 108.50% ratio for 869,994,325.756 customer tokens stored.

XRP holdings were reported at a 102.96% ratio covering 2,675,009,691.312 customer balances. Total XRP reserves equal 2,754,245,698.695 tokens across the platform. FDUSD had the second-highest ratio for customer protection, at 109.22%.

The altcoin data shows Binance maintains adequate reserves across its full token range.

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