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 Shows Changes in Crypto Holdings
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.
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