Binance Reports Shifting Cryptocurrency Holdings: Insights from June’s PoR Snapshot

Binance has released its 31st Proof of Reserves (PoR) report, offering a glimpse into the evolving distribution of crypto assets among its users. This latest snapshot reveals noteworthy fluctuations, including a decline in Bitcoin holdings and an increase in Ethereum holdings. Notably, USDT experienced a decrease as well. Binance remains one of the largest cryptocurrency custodians, with over $110 billion in reserves exceeding Coinbase’s $129 billion. 74% of Binance users hold a balance of stablecoins. As of June 1st, BNB fell slightly below the $650 mark.