Binance October Report Shows Bitcoin, Ethereum Decline as USDT Holdings Surge

The exchange’s reserves reveal reduced BTC and ETH positions alongside a sharp rise in Tether holdings, indicating shifting asset allocation.

BTC

ETH

USDT

189d ago

Summary

Binance’s October reserves report shows its Bitcoin holdings fell by about 570 BTC to 20,686 BTC, valued at approximately $69.54 million based on a price of $122,000 each. Ethereum reserves dropped sharply from 113 coins to 3. In contrast, USDT holdings more than doubled from 980 million to 2.08 billion, representing an increase of roughly 11 billion USDT.

Terms & Concepts

Reserves Report: A disclosure by exchanges detailing current cryptocurrency holdings, used to verify asset levels and transparency.
USDT (Tether): A widely used stablecoin pegged to the US dollar, designed to maintain a constant value of $1 per token.
BTC Holdings: The amount of Bitcoin an entity holds, often disclosed in reserve reports to indicate liquidity and market positioning.