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News

Binance Proof of Reserves October 2024 Highlights Key Asset Changes

October 8, 2024 - Around 2 mins mins to read

Key Points:

  • Binance Proof of Reserves October 2024 shows a 3.16% drop in USDT holdings, with BTC and ETH reserves also declining by 1.58% and 1.37%, respectively.
  • Despite drops in BTC, ETH, and USDT, Binance’s BNB reserves grew by 2.17%, according to the October 2024 proof of reserves.
Binance Proof of Reserves October 2024 reveals a 1.58% drop in BTC, 1.37% in ETH, and 3.16% in USDT holdings. However, BNB reserves grew by 2.17%.
Binance Proof of Reserves October 2024 Highlights Key Asset Changes

Binance Proof of Reserves October 2024 Shows Changes in Crypto Holdings

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Binance released its 23rd proof of reserves snapshot, reflecting that net user holdings of major leading cryptocurrencies, such as Bitcoin, Ethereum, and USDT, plummeted between September and October 2024. The reserves related to BTC fell by 1.58%, ETH by 1.37%, and USDT by 3.16%.

On the contrary, exchange BNB holdings jumped 2.17% from September through the end of October, thus showing the dynamic nature of Binance’s asset management strategy, according to Wu Blockchain.

Read more: Binance Trading Volume in Market Shares Falls to Lowest Level Since 2020

October 2024 Binance Proof of Reserves Highlights Asset Shifts

The user BTC assets in the Binance October 2024 reserves report fell by 9,577 BTC to 596k, while ETH was reduced by more than 61k tokens and USDT holdings by $698 million. On the contrary, BNB holdings rose by 882,454 tokens, marking a 2.17% growth. These changes hint at Binance’s asset strategy in these fluctuating times for the crypto market.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Author

William

In the fast-paced world of day trading, I've honed my skills for over six years using technical analysis tools and crafting short-term strategies. My expertise isn't from textbooks but from the trenches of online trading communities. I excel at reading chart patterns, applying technical analysis, and mastering risk management. "The market is about probabilities," I declare. As Editor at Coincu, I empower readers with the insights and strategies to conquer the dynamic world of day trading.