Binance Proof of Reserves fall by $3.5B in 24 hours Binance Proof of Reserves fall by $3.5B in 24 hours
Binance's USD and BTC Proof of Reserves fall by $3.5 billion and 500 million, respectively, according to Glassnode data.
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Over the last 24 hours, the Binance USD (BUSD) and Bitcoin (BTC) Proof of Reserves (PoR) have fallen by $3.45 billion, and $472.86 million respectively — according to Glassnode data analyzed by CryptoSlate.
Within that same period. Binance PoR also witnessed approximately $1.86 billion in inflows of both USD Coin (USDC), and Tether (USDT). A margin decline in Ethereum (ETH) was also observed.
Binance’s PoR total USD currently sits below $40 billion, as can be observed below in the Glassnode chart below. This reveals a steep decline since the start of the year and a fall in PoR holdings of approximately $13.2 billion since Sept.
Binance witnessed a sharp fall in late Nov. in both BTC PoR holdings and exchange balance holdings. In late Nov., BTC PoR holdings were 555,261 BTC, while exchange holdings were 656,361 BTC.
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Josh O'Sullivan
Josh has been writing for a decade and is passionate about mainstream crypto adoption, bringing positive financial change to the masses through crypto and decentralized finance as a whole.
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