Binance has sold nearly three months' worth of profits into U, preparing for winter? 😲

It seems that every periodic reserve report reveals something interesting. I remember when the report was released in February, everyone found that Binance's excess reserves (i.e., its own funds) were nearly exhausted except for USDC. The big fish boss @bitfish1 pointed out that it was used for shareholder dividends, which is part of the profit accrued at the beginning of the year.

Today, Binance updated the May reserve report. Let's take a look at the changes in its own funds over the past three months.

🟢 $BTC: Increased by 9,729 coins ($963,171,000)

🟢 $ETH: Increased by 8,033 coins ($15,262,700)

🟢 $USDT: Increased by 324,667,715 coins

🟢 $BNB: Increased by 15,913 coins ($9,706,930)

🔴 $SOL: Decreased by 2,453 coins ($367,950)

🔴 $XRP: Decreased by 14,501,682 coins ($31,613,666)

🟢 $USDC: Increased by 1,696,637,283 coins

Aside from BTC and stablecoins, the reserves of other assets have barely increased and even decreased. Don't be fooled by ETH & BNB having an increase of nearly 10 million dollars; it should be noted that Binance's spot trading fees are charged according to the trading currency, so the actual amount is far more than that. It seems they have almost sold out, which is quite consistent with the current market situation — BTC stands out alone, but we don't know if we will still see a flourishing market.