BINANCE RESERVES DROP ACROSS BTC, ETH, AND USDT
Binance has released its 41st Proof of Reserves snapshot, showing a decline in major user asset holdings. BTC, ETH, and USDT balances all moved lower compared to March.
User BTC holdings fell to 618,951 BTC, down 1.93% or 12,194 BTC. ETH holdings dropped 4.6% to 3.69 million ETH, while USDT balances declined 3.68% to $35.1B.
Despite the outflows, reserve ratios remain strong. BTC sits at 100.03%, ETH at 100.00%, and USDT at 105.62%, indicating full backing of user funds.
The trend suggests capital rotation or reduced exchange exposure as market uncertainty rises. Still, Binance continues to maintain overcollateralized reserves across key assets.
Are these outflows temporary positioning, or the start of a broader shift away from centralized custody?