Binance's Reserves Surge Past 693,000 BTC Amid Market Uncertainty

Binance's reserves have reached a two-year high of over 693,000 BTC, according to CryptoQuant data published on Thursday.

This represents about 30% of the total bitcoins held on major platforms and is up from 77,000 BTC since the end of April.

The increase comes after a particularly active August, during which Binance recorded 15.7 billion dollars in net inflows, a record according to Binance Research.

Some analysts suggest that this increase may be due to potential sales, the SAFU fund, or a search for security following the Coldcard incident.