Is Binance selling off nearly three months of profits in U to prepare for winter? 😲

It seems that every periodic reserve report reveals interesting insights. I remember the announcement in February when everyone noticed that Binance's excessive reserve portion (i.e., Binance's own funds) was almost depleted, except for USDC. Senior analyst Shen Yu pointed out that it was used for shareholder dividends and was related to the profit allocation made at the beginning of the year.

Today, Binance updated the May reserve report. Let's take a look at the changes in 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, reserves for other assets have hardly increased and some have even decreased. Even though ETH & BNB showed an increase of nearly $10 million, it's important to know that Binance's spot trading fees are charged based on the trading currency, so the actual amount is much more significant; it seems they have basically sold off most of it. This aligns well with the current market situation — BTC is standing out on its own, but it's uncertain if we will see a flourishing market again.