Binance Users Add 6,217 Bitcoin as Ether and Tether Balances Fall

Binance users added 6,217.116 Bitcoin (BTC) between Sept. 1 and Oct. 1, while their Ether (ETH), Tether (USDT) and BNB balances declined, shifting the composition of assets held on the exchange.

User BTC balances reached about 688,600 BTC, a 0.91% increase from the previous month. Ether holdings fell 4.61% to roughly 3.799 million ETH, a decline of 183,602.205 ETH.

Tether balances decreased 0.87% to about 32.03 billion USDT, down roughly 280 million USDT. BNB holdings fell 0.77% to approximately 43.04 million BNB, a decrease of about 334,200 BNB.

The changes show Bitcoin becoming more prominent in Binance users’ asset mix as the other balances declined. They do not directly measure buying or selling activity because Proof of Reserves data provides a snapshot of assets held for users at a specific time.

Binance’s October reserve data showed a 100.35% reserve ratio for BTC, alongside ratios of 103.88% for USDT, 100.00% for ETH and 100.47% for BNB. TokenPost previously covered the reserve ratios in Binance’s October report.