Binance’s BTC reserves fell from 631,000 to 574,000 BTC since September 2024, yet unrealized profits surged due to rising Bitcoin prices.
Bitcoin currently trades at $118,816, contributing to Binance's record 60,000 BTC unrealized gains despite a steady drop in total BTC reserves.
Binance holds an additional 16,000 BTC in custodial wallets to support BTCB and meet tokenized Bitcoin liquidity demands on the BNB Chain.
Binance’s unrealized profit on its Bitcoin reserves has climbed to 60,000 BTC, marking an all-time high for the platform. Despite a steady decline in BTC reserves, the exchange continues to record growing unrealized gains amid rising Bitcoin prices.
Binance BTC Holdings Continue to Decline
According to on-chain insights shared by crypto analyst Darkfost, Binance's BTC reserves have decreased from 631,000 BTC in September 2024 to 574,000 BTC as of now. This reduction is attributed to gradual outflows from the exchange over recent months.
https://twitter.com/Darkfost_Coc/status/1947790775775072350
Although the overall reserve has fallen, Binance retains a separate allocation of 16,000 BTC in custodial wallets. These tokens are designated to back BTCB, Binance’s tokenized Bitcoin offering on the BNB Chain, and ensure adequate user liquidity.
Unrealized Gains Hit Record Amid BTC Price Surge
While reserves have been decreasing, Bitcoin’s market price has continued to rise, trading at $118,816 as of writing. Over the last 24 hours, the asset has gained 1.43%, with a 1.04% increase over the past week.
This upward trend in price has pushed Binance’s unrealized profit to a record 60,000 BTC, the highest the exchange has ever recorded. These gains reflect the rise in value of the BTC held since acquisition, rather than realized profit from sales.
BTC Reserve Trends Signal Market Behavior
Monitoring BTC reserve trends offers insight into investor behavior. Declining reserves may suggest users are moving their BTC off centralized platforms. This action can be interpreted as increasing holder confidence and reducing intent to sell.
Despite ongoing outflows, Binance's unrealized profit growth shows resilience in the platform’s long-term Bitcoin position. The continued accumulation of gains, despite fewer tokens held, reflects the strength of the current BTC market cycle.
