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Binance Users Hoard More Bitcoin, Ditch Ethereum and USDT

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Binance has released its latest Proof of Reserves report, showing an increase in customer Bitcoin holdings. According to the data, user-held BTC rose by 16,349 units to approximately 657,000 as of August 1.

This marks a 2.55% growth from the previous month's snapshot. In contrast, Ethereum and USDT balances declined by 2.57%, with user-held ETH falling to around 3.98 million and USDT dropping to about 32.9 billion.

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