Bybit has released its 24th Proof of Reserves snapshot, taken on June 19, revealing a mixed shift in user asset holdings.
Compared to the previous snapshot on May 23, user balances show increased confidence in core crypto assets, while stablecoin reserves notably declined.
BTC and ETH Holdings Climb
User Bitcoin (BTC) holdings rose by 884 BTC, a 1.67% increase, bringing the total to 53,906 BTC. Ethereum (ETH) holdings posted even stronger growth, jumping 6.09% with an additional 37,168 ETH, raising total user reserves to 646,987 ETH.
This uptick in BTC and ETH balances may signal growing user preference for core assets amid volatile market conditions and regulatory scrutiny around stablecoins and lesser-known tokens.
USDT Reserves See Major Decline
In contrast, USDT holdings dropped 7.44%, a loss of $386 million, reducing total Tether reserves to approximately $4.80 billion. The drawdown could reflect user withdrawals, swaps to other assets, or risk-off behavior tied to broader market uncertainty or geopolitical tensions.
Other Tokens: Modest Growth in MNT
Bybit’s native token MNT recorded a minor increase of 2.10%, rising from 475.5 million to 485.5 million.
Snapshot Summary – June 19, 2025 (vs May 23):
- BTC: ▲ +884 BTC (+1.67%)
- ETH: ▲ +37,168 ETH (+6.09%)
- USDT: ▼ –$386M (–7.44%)
- MNT: ▲ +9.99M MNT (+2.10%)
Kosta Gushterov
Reporter at Coindoo
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Source: https://coindoo.com/bybits-june-proof-of-reserves-btc-and-eth-rise-usdt-drops-sharply/