Binance Proof-of-Reserve Report Shows Rising Bitcoin Demand and Falling Stablecoin Holdings

Binance has released its 45th Proof-of-Reserve report, covering data from August 1st. The report shows an increase in Bitcoin balances and a decrease in Ethereum and Tether balances.

The total Bitcoin holdings of Binance users have reached approximately 657,000 $BTC, a 2.55% increase compared to the previous report dated July 1st. This represents a growth of around 16,349 $BTC over the past month, demonstrating continued investor interest in Bitcoin.

On the other hand, Binance users' Ethereum balances have decreased by approximately 105,154 $ETH, accounting for a 2.57% drop compared to the previous period. Tether balances also saw a decline of around $870 million, representing a 2.57% decrease in user holdings.