OKX’s July Proof-of-Reserves Shows Strategic Shift: $USDT Reserves Surge Amid BTC and ETH Adjustments

July closed on a strong note for the crypto market, with Bitcoin ($BTC ) posting solid 10.7% gains and Ethereum ($ETH ) surging an impressive 55% return. Behind the headlines, exchange giant OKX unveiled interesting shifts in its monthly Proof-of-Reserves report, revealing subtle but significant portfolio rebalancing among its user base.

As the world’s fifth-largest centralized exchange (CEX) by daily trading volume—topping $3 billion—OKX’s data offers a valuable lens into broader market sentiment and capital flows.

Key Highlights From OKX’s 33rd Proof-of-Reserves Attestation

Bitcoin (BTC) holdings declined by 3.34%

Ethereum (ETH) holdings dipped marginally by 0.11%

Tether (USDT) reserves surged 4.62%, adding nearly $400 million

This repositioning paints a picture of cautious users shifting some capital away from BTC while holding ETH steady and stacking stablecoins as a buffer against market volatility.

Bitcoin Holdings Drop Reflects Growing Self-Custody Trends

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