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

It seems that every periodic reserve report reveals interesting insights. I remember in February, when it was announced, everyone noticed that Binance's excess reserves (i.e., Binance's own funds) were almost depleted except for USDC, and the big fish boss @bitfish1 pointed out that it was used for shareholder dividends, reflecting profits accrued at the beginning of the year.

Today, Binance updated the May reserve report. Let's take a look at the changes in their 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 hardly increased and some have even decreased. Don't be fooled by ETH & BNB having an increase of nearly $10 million; keep in mind that Binance's spot trading fees are charged based on the trading currency, so the actual figures are much higher. It seems that they have basically sold off most of it, which is quite consistent with the current market trend — BTC is standing out, but who knows if we will still see a flourishing market again.