Binance Releases 33rd Proof of Reserves Snapshot

The report shows that users are increasing their Bitcoin exposure while Ethereum balances on the platform have dropped.

Proof of Reserves is Binance’s public commitment to transparency. By publishing these reports regularly, the exchange gives users a way to verify that their funds are fully backed. The data is captured using a snapshot of on-chain reserves matched against customer balances at a specific moment.

Bitcoin and USDT Balances Rise as Ethereum Sees Pullback

According to the new report, Binance users held 591,000 BTC as of August 1, an increase of 17,100 BTC since the July 1 snapshot. That marks a 2.99% rise in user Bitcoin balances, showing growing investor confidence in BTC despite recent price swings. This trend mirrors broader market sentiment, where institutional demand for Bitcoin is picking up amid speculation about global monetary shifts and potential ETF approvals.

Meanwhile, USDT holdings also saw a modest rise. Binance users held 29.85 billion USDT, up 258 million USDT from the previous month. This 0.87 percent increase signals continued use of the stablecoin as a go-to asset for trading, holding, and navigating volatility. USDT remains a critical part of crypto liquidity, serving as a bridge between fiat and digital markets.

However, Ethereum holdings tell a different story. User ETH balances on Binance dropped by 496,000 ETH in July, down 9.84 percent to 4.555 million ETH. This decline could reflect users moving ETH into staking platforms, DeFi protocols, or cold storage, as more investors seek yield or added security amid shifting market conditions.

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