#ETHRally 1. Ethereum Supply & Reserves

Notable drop in user-held ETH: In its 33rd Proof of Reserves report (August 7, 2025), Binance revealed that users’ Ethereum balances fell by about 9.8%—a decline of nearly 496,000 ETH, bringing holdings down to 4.5 million ETH. Despite this, Binance maintains a reserve ratio of 100.67%, ensuring full backing of user deposits with a slight surplus.