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Binance Hits Two-Year High in Bitcoin Reserves

Guavy AI Editorial Team
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BTC BNB
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Binance's Bitcoin reserves have reached a two-year high, according to data from CryptoQuant. The exchange now holds approximately 693,000 BTC, representing about 30% of the total Bitcoin balance held by major cryptocurrency exchanges.

This marks a significant increase since April, when Binance's Bitcoin reserves rose by around 77,000 BTC. Several factors could be contributing to this rise, including sales activity, security transfers, and acquisitions by Binance's Secure Asset Fund for Users (SAFU).

The exact reason for the increase is unclear, but it's evident that Binance's Bitcoin holdings have continued to grow over recent months.

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