Binance Users Increase Bitcoin Holdings by 16,349 BTC as ETH and USDT Decline

Binance Users Increase Bitcoin Holdings by 16,349 BTC

In its latest Proof of Reserves report, Binance has revealed that users added a total of 16,349 BTC to their holdings over the month of August, bringing their total Bitcoin balance to approximately 657,000 BTC. This report, based on user balances recorded on August 1, 2026, also indicated a decline in Ethereum and Tether (USDT) holdings.

Bitcoin Accumulation Continues

The monthly report indicated a 2.55% increase in user Bitcoin holdings from the previous snapshot taken on July 1, where balances were approximately 640,651 BTC. This increase in Bitcoin holdings marks a consistent upward trend, as users previously added 25,838 BTC in May and 7,715 BTC in June.

Decline in Ethereum and USDT Holdings

Conversely, Binance users’ Ethereum balances experienced a significant drop of 2.57% since July, falling from around 4.08 million ETH to approximately 3.98 million ETH. This represents a decrease of 105,154 ETH.

Tether balances also saw a decline, dropping by 870 million USDT to approximately 32.9 billion USDT. This decline marks three consecutive months of decreasing USDT balances.

Understanding the Proof of Reserves Report

Binance’s Proof of Reserves methodology reported a reserve ratio of 100.25% for both Bitcoin and Ethereum, indicating the exchange holds more assets than the user liabilities at the snapshot time. For USDT, the ratio was reported at 103.62%.

While the Proof of Reserves provides a snapshot of user asset backing, it does not replace a full financial audit and does not reflect real-time trading activities. It gives insight into the account balances but does not delineate the movements of assets due to purchases, deposits, or withdrawals from external wallets.

Future Outlook

Binance has yet to announce a date for its next Proof of Reserves report. Historical patterns suggest the following report, likely to be based on balances recorded around September 1, 2026, could reveal whether the trend of increased Bitcoin holdings continues, along with potential further declines in Ethereum and USDT holdings. The market will be watching closely as changes in user behavior and asset distribution become more apparent.