Binance Proof of Reserves Shows Increase in User BTC and ETH Assets, Decrease in USDT Assets

On July 1, Binance released its 20th proof of reserves, showing a significant increase in user assets. User BTC holdings have risen by 4.01% since June 1, reaching 605,637 BTC.

Binance's 20th Proof of Reserves Shows Increase in User Assets, Two Addresses Accumulate 10,798 ETH

On July 1, Binance, the world's largest cryptocurrency exchange, released its 20th proof of reserves, showcasing a significant increase in user assets throughout the second quarter.

According to the latest proof of reserves statement, total user BTC holdings rose by 4.01% since June 1, reaching 605,637 BTC. This marks an addition of 23,667 BTC to the exchange's reserves over the past month. As of June 1, Binance held 581,970 BTC in its reserves, which have since seen a substantial increment.

Meanwhile, user ETH assets also experienced a 1.01% increase, totaling 4.711 million ETH. This indicates an addition of 46,686 ETH to the exchange's reserves over the past month. As of June 1, Binance held 4.664 million ETH in its reserves, which have seen a further increment since then.

However, user USDT assets experienced a decline of 2.54%, dropping to 21.51 billion USDT. This marks a decrease of 563 million USDT from the exchange's reserves over the past month. As of June 1, Binance held 22.07 billion USDT in its reserves, which have since seen a slight decrement.

Two Addresses Accumulate 10,798 ETH from Binance, Coinbase

In the past month, two new addresses have amassed 10,798 ETH from Binance and Coinbase, valued at around $32.54 million, with an average transfer price of $3,258. Notably, 4,472 of these ETH, worth $13.41 million, were withdrawn to an on-chain wallet within the past hour.

These addresses, possibly institutional, have staked 3,616 ETH to the Ethereum beacon chain. Moreover, they have also interacted with the decentralized exchange CowSwap, NFT marketplace OpenSea, and lending protocol Aave.

One of the addresses, known as 0x98…799F, has been active since December 2022 and currently holds 7,098 ETH. The other address, 0x05…a9FE, was created in May 2023 and has since acquired 3,700 ETH.

Buterin Transfers 100 ETH to 2077 Collective

In another notable transaction, Ethereum co-founder Vitalik Buterin, through his vitalik.eth address, transferred 100 ETH, worth approximately $300,000, to the multi-signature contract 0x82…a9FE at 19:44 UTC+8 today.

This transfer is believed to be a donation to the 2077 Collective, a community-driven organization focused on promoting Ethereum adoption. The collective aims to support projects and initiatives that advance the protocol's technology, ecosystem, and community.

The organization's name is a nod to the year 2077, which is featured prominently in the cyberpunk genre and signifies a distant future. 2077 Collective was established in 2022 by pseudonymous individuals and has since received contributions from various parties within the crypto space.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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